SalaryΒΆ
Everyone at Bitmazk earns the same.
We don’t know for how long we will be able to hold up this philosophy but as long as we have less than 50 employees we are quite sure that everyone’s work will be equally important to the company’s success.
This means that if you want to have a pay-rise, everyone will get a pay-rise and obviously that has to be earned, otherwise we would probably go bankrupt quickly.
We have a formula that determines how we handle pay-rises.
In simple words it goes like this: Every time we have one more month worth of total salaries in the bank, we get a S$100 pay-rise.
To be more precise, here are some variables:
- starting salary - the first salary when the company was founded
- payrise count - the number of pay-rises that have been given when we will get the next pay-rise
- total salary - equals starting salary * number of employees
- payrise amount - we set this to S$100
In order to get a pay-rise, the equity of the company (cash in the bank plus outstanding invoices) must equal:
(total salary + (payrise amount * payrise count * number of employees))) * payrise_count
This is at the beginning of the month, after all of last month’s outstanding payables and salaries have been paid.
Example:
- Pay-rise count: 1
- Starting salary: S$4,200
- Employees: 3
- Total salary: 3 * S$4,200 = S$12,600
- Necessary equity: (S$12,600 + (S$100 * 1 * 3)) * 1 = S$12,900
| Employees | Salary | Total salary | Payrise count | Payrise amount | Necessary equity |
|---|---|---|---|---|---|
| 3 | 4200 | 12600 | 1 | 100 | 12900 |
| 3 | 4300 | 12900 | 2 | 100 | 26400 |
| 3 | 4400 | 13200 | 3 | 100 | 40500 |
| 3 | 4500 | 13500 | 4 | 100 | 55200 |
| 3 | 4600 | 13800 | 5 | 100 | 70500 |
| 3 | 4700 | 14100 | 6 | 100 | 86400 |
| 3 | 4800 | 14400 | 7 | 100 | 102900 |
| 3 | 4900 | 14700 | 8 | 100 | 120000 |
| 3 | 5000 | 15000 | 9 | 100 | 137700 |