Pay Transparency: Coming to a Job Posting Near You

Pay Transparency: Coming to a Job Posting Near You

Pay Transparency: Coming to a Job Posting Near You

By Adam Stoffel, Head of Operations at Caravel Labs

A growing number of states in the US are adopting legislation requiring employers to disclose compensation information earlier in the interview and hiring process. Washington state, home to Caravel Labs’ corporate headquarters, recently passed SB5761, which requires employers with 15 employees or more to disclose wage or salary ranges in job postings. Previously, companies were only required to disclose pay information after making a job offer. 

The push for pay transparency comes amid the recognition that women in the United States are still earning 30% less than men and that economic inequality affects 99% of the global population. At Caravel Labs, each of our job postings includes clear information about salary ranges. This is straight forward for us because we have an equitable pay and compensation plan that we apply universally to every employee in the company. 

Details about our pay and benefits are always available to every employee and job applicant (even when it’s not required by law) and are the result of our company’s compensation philosophy, which is:
  • Do good, do well: anyone who believes in our mission should feel that our compensation is on par with any other prospective employer

  • All team members are equal partners in the company and share in its wealth

  • Equal pay for equal work anywhere in the world

Compensation packages at Caravel Labs include several components: 
  • Base salary: An employee’s base take-home pay, determined by their pay level

  • Equity awards: Stock and stock option awards provide you with an ownership opportunity in the company

  • Bonuses: We pay bonuses annually to all company employees based on favorable company performance

  • Benefits and social protections: Our benefit packages are designed to suit our employees in every location where we operate that provide world-class health, wellness, time-off, and retirement savings options

  • Training: Every employee in the company is eligible to spend up to $1000 USD per calendar year on training expenses

Pay levels at Caravel Labs are determined and recalibrated annually for each job role. We don’t use discretionary pay bands; every employee in the same role in the same geography is paid the same amount. Additionally, we only apply a location differential to early-stage job levels. Early-stage pay levels are calibrated to be competitive for top talent in the local market. Mid- and senior-level roles at the company receive equal pay no matter where in the world you work. 

At Caravel Labs, we recognize that in today’s post-pandemic environment, we are competing for a global talent pool which can readily work remotely for many of the most recognized employers in the tech industry. We are committed to making our hiring and compensation practices equitable and attractive to all prospective candidates. 

If you’re a technologist who is committed to sustainability and social impact, please connect with us via our careers page.