FarmBot Inc

FarmBot Inc

Documentation for the way we do business

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Compensation

Pay formula

To help us achieve pay equity, we have adopted the following formulas that apply to all of our team members:

Hourly Rate = Role Base Rate x Seniority Multiplier x Experience Multiplier + Location Adjustment

Annual Salary = Hourly Rate x 2,000

The Role Base Rate is determined by the table below:

Role
Base Rate

C-Level Executive

$40/hour

Lead Software Developer

$37/hour

Lead Hardware Engineer

$37/hour

Software Developer

$33/hour

Hardware Engineer

$33/hour

Designer

$30/hour

Warehouse Worker

$24/hour

The Seniority Multiplier is 1.0 (no effect) for team members consistently with us for under 1 year, 1.1 for those with us for over 1 year, 1.2 for over two years, and 1.3 for over three years.

The Experience Multiplier is subjective and can range from 1 to 1.3.

The Location Adjustment is used to account for the cost of living in the team member's area. It is calculated using the Cost of Living Plus Rent Index provided by the Numbeo database. It is +$0 for index values 0-32, +$1 for 33-65, +$2 for 66-98, and +$3 for 99-130.

Examples

For a C-Level Executive who has worked with us for over three years, has a medium level of experience, and lives in San Luis Obispo, the pay formulas work out as follows:

Hourly Rate = $40/hour (base) x 1.3 (seniority) x 1.15 (experience) + $2 (location) = $61.80/hour

Annual Salary = $61.80/hour x 2,000 = $123,600

For a software developer who has worked with us for 1.5 years, has a medium level of experience, and lives in Portland, the pay formulas work out as follows:

Hourly Rate = $33/hour (base) x 1.1 (seniority) x 1.15 (experience) + $2 (location) = $43.75/hour

Annual Salary = $43.75/hour x 2,000 = $87,500

For a warehouse worker who is just starting, has a medium-low level of experience, and lives in San Luis Obispo, the pay formulas work out as follows:

Hourly Rate = $24/hour (base) x 1.0 (seniority) x 1.1 (experience) + $2 (location) = $28.40/hour

Annual Salary = $28.40/hour x 2,000 = $56,800

Benefits

FarmBot Inc offers generous benefits to all salaried employees.

Benefit
Provider and Plan
Company Contribution

Medical

United Healthcare Select Plus Gold 250 plan

90% for employees and dependents

Dental

Principal Dental 1500 UCR 90 with Orthodontia

90% for employees and dependents

Vision

Principal Vision 10/25/150

90% for employees and dependents

Life

Guardian $50,000 Basic Life

90% for employees