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Compensation

If you skipped the first couple of sections and went straight here, we don't blame you.

We realise that compensation and benefits are a crucial part in deciding where to work. We’re in a fortunate position to be backed by some of the best investors in the world who also believe in this. They know that to convince the best people in India to work with us, we need to pay them well.

Time is of the essence in an early stage startup and we are certain that being totally upfront about compensation saves time for both you and us. The following sections tell you what to expect if you end up working at Even.

Our compensation framework

With Even, our goal is to make a top of market offer to all of our team members, both for the cash and equity components.

Any start up is only as good as the people who choose to work there and we know that in most cases, the market actually undervalues the very best people. So, no, we don't think we're being too generous.

We also believe in fairness and transparency and so in that spirit, here is our existing framework:

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ESOP refers to Employee Stock Ownership Plan

Non-engineering role outline

Non technical rolesSalary (CTC)ESOP (first 20 hires)ESOP (post 20 hires)
Junior Associate
₹12l per year
0.05%
0.025%
Associate
₹18l per year
0.1%
0.05%
Manager
₹24l per year
0.2%
0.1%
Team lead
₹36l per year
0.35%
0.175%
C-level
Aim to be top of market
1% and above
0.5% and above

Engineering roles

Technical rolesSalary (CTC)ESOP (first 20 hires)ESOP (post 20 hires)
Engineer (I)
₹16l per year
0.1%
0.05%
Engineer (II)
₹24l per year
0.15%
0.075%
Senior Engineer (III)
₹36l per year
0.25%
0.125%
Engineering Lead (IV)
₹48l per year
0.5%
0.25%
Engineering Director
₹60l per year
0.75%
0.375%
C-level
Aim to be top of market
1% and above
0.5% and above

It's important to note that, to the best of our knowledge, our offers are at the top of the market for all of our roles. At the same time, if you currently have a cash compensation package (excluding ESOPs and RSUs) that is better than what we offer, do let us know and if we make you a final offer, we'll beat the cash component by 10%. We also have a clearly defined framework on how the ESOPs are managed for our team:

ESOP Variables

NameEven Policy
Vesting Schedule
4 year vesting, with 25% vesting every year, a 1 year cliff and monthly vesting after the cliff
Leaver Clauses
Same as founder leaver clauses and as employee friendly as possible
Strike Price
Discount on price per share on the last round
Exercise Period
As long as legally possible
Post vesting Clawback provisions
None unless proven criminal damage or breach of contract

In addition to these frameworks, there are a few things we keep in mind when making an offer to work at Even:

We will pay for you to get legal advice before you sign

Employment offers can be complicated and it can feel like you’re signing up to something you don’t fully understand. You end up asking your friends for advice and, while that is a good idea, for such a big decision we feel you should be fully informed.

If we make you an offer to work at Even, we will reimburse you up to ₹10,000 to get legal advice from a lawyer of your choosing, particularly when it comes to the ESOP part of the offer. This is also regardless of whether you choose to take the offer or not.

Ideally you’d choose a lawyer with experience of working with technology start ups and we’d be happy to suggest some names. The only provision being you wouldn’t be able to use Trilegal, as they are our company lawyers and we want to avoid any conflict of interest.

Negotiations suck

When we make you an offer, we are making what we consider to be the first and best offer. We've spent a lot of time trying to ensure that our offers are some of the best in the market. If you're applying for a role where our compensation package is already outlined, you can assume that will be our offer.

The only time we could make a better offer is if you have provided us with evidence that you earn more at your current place of work, at which point our offer will be your current package plus 10%.

If you're applying for a role where we haven't yet outlined our standard offer (for a team leadership role for example), you can assume that if we do make you a final offer, it will be the very best one we can afford.

We understand people have different levels of risk tolerance

Although we don’t really negotiate once we make an offer, we do realise not everyone is in the same situation in their lives, particularly when it comes to risk.

With that in mind, we do allow for team members to trade off between the cash and equity part of any offer we make. This can be up to 20% in either direction.

For example, if we make an offer of 24l in cash and 36l in equity options, you would be able to get up to 20% more cash (24l + 4.8l = 28.8l) for 20% less equity (36l - 7.2l = 28.8l) or up to 20% less cash (24l - 4.8l = 19.2l) for 20% more equity (36l + 7.2l = 43.2l). Either way, the decision is entirely up to you.