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How does the 10% profit share work? Do they take 10% of profits and divide them equally among all employees? Contractors? Full time? Part time? Interns? Does
by rexreed 6y ago
How does the 10% profit share work?
Do they take 10% of profits and divide them equally among all employees? Contractors? Full time? Part time? Interns?
Does someone know how the profit share works?
- ativzzz 6y agoTypically you can either give everyone the same percent or say you set aside 10% of your profit and divvy it up proportional to people's salaries
- rexreed 6y agoYes but how is it being done in this case?
- 1123581321 6y agoIt is entirely based on time employed, up to a cap: "You’re eligible to participate in profit sharing after two years of working at Basecamp. You’ll accrue one share per month starting on your second anniversary at Basecamp, and you’ll max out your shares at 10 years. We calculate shares based on months of tenure so there’s no unfair cliff between being hired in December vs January."
- rexreed 5y agoSo they just add up all the employee months and split the profit equally per employee month?