Salaries and Appraisals take up immense mental and financial resources for any company. We don’t want to, and we have tried to design a structure that is simple-to-comprehend, easy-to-implement, transparent, and result-oriented.
RED Salaries
Levels and Monthly Salaries at RED
| Level | Fixed | Variable | Variable % | Total Salary | % Raise | Quarters to qualify |
|---|---|---|---|---|---|---|
| L1 | ₹40,000.00 | ₹4,000.00 | 10% | ₹44,000.00 | 0% | 0 |
| L2 | ₹60,000.00 | ₹6,000.00 | 10% | ₹66,000.00 | 50% | 2 |
| L3 | ₹85,000.00 | ₹12,750.00 | 15% | ₹97,750.00 | 48% | 2 |
| L4 | ₹120,000.00 | ₹18,000.00 | 15% | ₹138,000.00 | 41% | 2 |
| L5 | ₹160,000.00 | ₹32,000.00 | 20% | ₹192,000.00 | 39% | 3 |
| L6 | ₹200,000.00 | ₹40,000.00 | 20% | ₹240,000.00 | 25% | 4 |
| L7 | ₹240,000.00 | ₹60,000.00 | 25% | ₹300,000.00 | 25% | 4 |
| L8 | ₹285,000.00 | ₹71,250.00 | 25% | ₹356,250.00 | 19% | 4 |
Here’s how it works:
- Every Level has a Fixed and a maximum Variable Salary Component.
- The least payout for anyone is ₹44,000 (40,000 fixed and 10% variable).
- The Variable Component is defined by the financial performance of RED.
- If RED makes enough profits, everyone receives 100% of their Variable component.
- No profits, no Variable payout.
- Higher Levels have a higher Variable component because higher-ups The higher you go, the more you are responsible for the financial performance of RED.
- The percentage jumps between salary levels are higher at lower levels (50%, 48%, etc.), and decrease as you level up.
- Eligibility for the next Level depends on two factors:
- Successful achievement of personal responsibilities
- Consecutive Quarters of achieving those milestones Initial level-ups are faster, later ones slower. An L1 person becomes eligible for L2 in two quarters, whereas an L5 to L6 transition is eligible after 4 consecutive quarters of successful meeting of targets.
Responsibilities
RED is a team of generalists, and so we had to design unambiguous performance metrics. You pick two or more metrics like these:
- Manage projects of ticket sizes proportional to your salary. Higher your level, bigger the projects you manage.
- Make more Friends of RED. Bigger our network, more we learn and greater our impact.
- Submit more viable business plans every quarter. Adrenaline rush to evaluate new lines of work to keep us relevant, reduce risks and grow exponentially.
- Spin off new businesses / divisions out of RED. Find someone to head the new team and spin it off, while we focus on staying lean and the next experiment.
- Contribute to Business Development.
- Improve Digital Presence and Social Technologies.