In July of 2022 FarmBot Inc implemented a 4-day work week for all employees. For the same pay, the “Full-time” expectation was lowered from 5 days/40 hours to 4 days/32 hours per week, with every Monday becoming a part of the weekend.
To help us achieve pay equity, we have adopted the following formulas that apply to all of our team members:
FarmBot Pay Formulas:
Hourly Rate = Role Base Rate x Seniority Multiplier x Experience Multiplier + Location Adjustment Annual Salary = Hourly Rate x 2,000
Role Base Rate is determined by the table below:
|Lead Software Developer||$37/hour|
|Lead Hardware Engineer||$37/hour|
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.
Experience Multiplier is subjective and can range from 1 to 1.3.
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.
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
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|