Our top priority is building a team of extraordinary people, and setting them up to do meaningful, high-impact work. As an early-stage and quickly evolving startup, we know folks come to Hex for unique opportunities, the people, culture – but compensation is an essential piece of the decision-making puzzle, too. This is why we have invested in comp packages that include:
We want everyone at Hex to be confident that they’re being paid fairly and proactively at every step of their employment journey while also ensuring our comp strategy is right-sized for us. Things will evolve, but as they do, we’re committed to continuing with comp strategies that are competitive, equitable, proactive, and right-sized.
We love data at Hex! We use market data from industry-leading and relevant sources (Pave, Option Impact, VCs) to create comp bands within each team. Comp bands distinguish between seniority, complexity, and scope of expected work.
For cash comp bands, right now, we benchmark to the 75th percentile of peer companies (funding, valuation, revenue, etc) in tier 1 (SF, NYC) markets.
For equity bands we look at comparable data, indexing on dollar value of grants, and managing to an overall dilution budget.
Twice a year (end of H2 and end of H1, roughly), we run internal compensation reviews with Leads to determine whether we should be making any in-band or promotion adjustments.
We also review market-data against our comp bands, and when warranted, we adjust our bands to remain market-competitive. When our internal comp bands increase, we proactively give raises to folks in that band during our internal comp review process. This helps us ensure that that we’re keeping up with industry comp trends and our team is getting paid competitively as the market evolves.
As part of the role kick-off process, Hiring Managers work with Recruiting + Leadership to determine the scope and expectations of the new role. Once that is decided, we align the seniority of role to the relevant hiring comp bands.
Each cash comp band has a hiring comp band and an internal comp band. Hiring comp bands are the narrower and make up the lower half of the band, while our internal comp band is wider and includes the hiring comp band + an additional upper range of cash compensation. We do this to help drive more pay equity among peers in the hiring process and also allow room for more in-band cash comp growth overtime.
We use benchmarking data to set competitive new hire equity grants so all employees have ownership and upside in the impact and value that they are creating at Hex.
To help us retain and reward employees beyond their initial 4-year vest, we have a few Equity Refresher Programs to reward employees when they hit impact milestones during their tenure.