3 ms·
It definitely makes sense to not hire for a certain period to see how this salary bump impacts the company as a whole. Anecdotal mention: https://open.buffer.c
by phantom_oracle 9y ago
It definitely makes sense to not hire for a certain period to see how this salary bump impacts the company as a whole.
Anecdotal mention: https://open.buffer.com/layoffs-and-moving-forward/ https://open.buffer.com/layoffs-and-moving-forward/
Fast Hiring at that salary level is probably why SV startups burn through money so quickly.
I doubt they will see major performance boosts with the salary increase. If they don't, it indicates the team is already working optimally OR salary increases don't always translate to increased performance. If they do, do they then start asking themselves why performance was so average (relatively)?
- mjmahone17 9y agoOr they stop seeing a bunch of their employees interviewing with Bay Area companies. For a team of 55, losing 5 key people to higher Bay Area salaries could cost tens of millions of dollars in lost opportunity. In that context, bumping everyone’s salaries even 30% (say on average 60k*55 = 3.3 million) is not such a big deal. Especially if revenue and income over the past year grew a lot more than that.