Our compensation philosophy

• We aim to pay fairly
• Each role in the company is paid relative to the local market value for that role
• Team members in the same role won’t necessarily be paid the same, however, we are working actively to not have a gender pay gap
• Excellent performers may be awarded an increase. Being in a role for a long time does not in itself warrant an increase.
• Other adjustments may be made where the job has grown and/or includes more responsibility or where market rates have changed.

Our benefits philosophy

• Benefits — just like product features — are a big investment for Bonnet. What we invest in should depend on who we want to attract and retain, and where we see the biggest ROI.
• We aim to design benefits packages that are broadly ‘equal’ for all employee groups. But creating 100% equal benefits is neither possible nor desirable/relevant in all location. Please understand that some benefits may be:
  • rolled out in the UK only
  • accessible only to certain employees

Salary reviews and benchmarks

As of August 2022, we are reviewing salaries twice a year (June/July and December/January).

In line with our compensation philosophy, our main goal is to make sure we’re paying fairly, so we use updated industry benchmarks with each review.

We review against relevant companies, which usually doesn’t include companies from Consulting, FMCG or places like Facebook, Google etc.

You do not need to do anything - our goal is to keep your compensation at an appropriate level without you having to ask. You will only hear about salary changes if there has been a change in your pay, not if it is staying the same.

Given we have more frequent pay reviews now, this statistically means that it’s more likely that your pay won't change with each review. We don't want people to feel disappointed that their pay isn't increasing twice a year, as this isn't realistic.

Salary review process

1. Eltje kicks-off the process by getting up-to-date industry benchmarks
2. The results will be discussed with Patrick and Eliot
3. To determine any rises, we look at the market rate for each level, as well as performance, responsibilities and progress against KPIs