Aeqium Blog

A compensation philosophy is one of the key elements of a thorough compensation management plan. A well designed compensation philosophy describes a company's approach to determining and providing pay and benefits to its employees. It also serves as a framework for how the company rewards its employees for the contributions that they make to the organization.

Total compensation or “TC” as it’s colloquially (and somewhat sarcastically) referred to across the tech industry, is a term referring to the sum total of all of the monetary compensation that an employee receives in a given year. In tech company circles, it has become a common term that allows employees at different companies to compare their compensation and determine whether they’re being paid a market rate. 

The world’s three most famous consulting firms, Bain & Company, the Boston Consulting Group (BCG), and McKinsey, have recently made a number of compensation market adjustments – their largest in years. What’s going on here? 

In uncertain macroeconomic environments, there are many important decisions that you and your team need to make regarding comp. Here are a few tips for how to navigate compensation and team building in the event that we’re in for an extended downturn.

With more and more pay transparency laws coming into effect, compensation and people operations teams need to be prepared for what they need to publish and what the impacts will be for candidates and employees alike. To maximize the opportunity that this creates (and minimize the downside), take the steps below to make sure that you’re prepared. 

Compensation bands are an integral part of a great compensation program. Compensation bands simplify decision-making, prevent salary compression, and ensure pay equity. They’re an important tool as you level up and ensure that your comp plan is effective. If you don't have bands in place yet, here are some tips on how to get started.