<aside> 🚧 Given the current economic conditions and our policy of not lowering salaries due to a compensation review, Ride Report has opted not to conduct a compensation review in 2023. We'll revisit this when the dust settles, but for now we are not raising (or lowering) salaries due to changes in the local job market.

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A candidate or employee who feels that the salary or equity for their role is not competitive can request a compensation review. A compensation review can also be requested by a hiring committee who feels that a compensation is failing to attract qualified candidates. Ride Report leadership may opt not to conduct a requested compensation review if one has already been conducted for the role in question in the past 12 months.

When performing a compensation review, Ride Report leadership will conduct a survey of salaries and equity compensation for equivalent roles using tools like Option Impact and, where appropriate, with input from company directors, advisors and consultants. Ride Report leadership will then update the compensation for the role as necessary.

Leadership will target 75th percentile salaries in the Portland Area, but may adjust this target based on the compensation data available. For example, leadership might decide that a different target percentile is more appropriate when considering compensation data for the entire Pacific NW region. All employees in the affected role will receive any salary or equity increases that result from a compensation review, regardless of who requested it. Salaries will never be decreased due to a compensation review request.

We also revisit our minimum salary during our compensation review to ensure it reflects the current market. Our minimum salary works as follows:

• Our minimum salary is currently set to $61,530, which was determined by selecting 100% of local median income as given by this Portland Housing Bureau report.
• If the 75th percentile salary for a new hire's role lies below our Minimum Salary, the minimum salary will be used instead.
• The salary minimum applies to the "base salary" offered for a role. An employee may still elect to trade for additional equity and end up with a salary below the minimum.
• On an employee's first year anniversary, they receive the higher of:
  • The 75th percentile salary plus $5,000 (less any salary equity trade) or
  • The salary minimum (less any salary equity trade)

<aside> ℹ️ If you are a manager at Ride Report, you can consult our internal technical guide on performing a compensation review here.

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