07 Dec Tech Writer’s Tribe Salary Survey Report: Components outside Salary
Do you know without being a manager, you can get other components?
Read this article generated from our Salary Survey Report (December 2024) to learn how other tech writers have been receiving components outside the fixed salary.
Highlights
- Definitions of components outside salary
- Perks by company
- Perks by role
- Perks by city
- Numbers in the survey
In the Nov 2024 Salary Survey conducted by Tech Writer’s Tribe, 30% of the respondents mentioned that their compensation includes components beyond the traditional salary. The value of components varies by role, type of company, and workplace location. The components are popularly known as Equity/RSUS/ESOPS/Stocks/Bonus.
Some Definitions of Components Outside Salary
Refers to cash or ESOPs one receives when joining (Joining bonus) a company or as a reward for some achievement.
Refers to a total ownership stake in a company. For example, 10% equity in a company gives you ownership of 10% of that company. It entitles you to get 10% of the company’s profits.
Refers to a single unit of the equity share. It is a financial instrument representing part ownership in single or multiple organizations.
Refers to a single unit of stock. A share of stock represents an equity interest in a company.
Refers to Employee Stock Option Plans (ESOPs) that let employees purchase company shares at a discounted price. It is considered good for potential profits.
Refers to Restricted Stock Units (RSUs) provided by a company to employees. It is considered as part of compensation. Employees can sell it after a vesting period or reaching a specific milestone.
The duration after which one can sell RSUs. Generally, a company sets it up for 3-4 years. For example, an employee is offered 5,000 worth of Stocks to be vested in 3 years. To avail the benefit of those stocks, the employee must stay in the same company for 3 years from the time the perks are received.
Let us see what the participants mentioned in the Salary Survey report.
Perks by Company
We cannot name the companies to save the privacy of the individual respondents. But primarily the MNCs offer such perks. Many start-ups also follow the same. Some companies provide stocks but unless those companies are listed, employees do not benefit.
Perks by Role
Some companies provide as per the seniority level where managers and senior individual contributors benefit. But in some companies, even the (junior) technical writer role is applicable for the benefit.
Perks by Location
- Bengaluru leads
- Hyderabad is ahead of others.
- Working remotely or from the office, these components can be part of your overall earning.
- Multiple companies offer such components.
- Graphic displays the percentage of tech writers getting components at multiple locations.
What do Numbers say?
The number of Stocks/Shares/RSUs/Equity varied. While some got as little as only 3 stocks, some reported getting up to USD 90,000 or INR 17 lakhs. Below are some numbers shared by the participants whose roles vary in the company.
Summary of Stocks/Shares/RSUs/Equity/Bonus
- 3-10,000
- Once or twice a year
- Some got it in multiple companies
- Some got it in the previous company
- Some got a mix of two or more benefits
- Some get every year
- Some get once in 3-4 years
Value Range of Stocks/Shares/RSUs/Equity
- 800-80,000 (USD)
- 40,000-17,00,000 (INR)
Conclusion
Irrespective of the designation that you earn, do not just be limited to the CTC offered. While some companies may offer such components on their own, with some you may have to initiate the discussion by asking – What’s beyond CTC or your take home? Start with the Joining bonus and move to ESOPs or other popular components.
For direct guidance, initiate a discussion with peers in Tech Writer’s Tribe WhatsApp group for technical writers.
James
Posted at 12:35h, 08 DecemberInsightful details. Helpful to understand how I should follow next.