Target Market Percentiles
Carta Total Comp will now show target data for the 25th, 50th, and 75th salary and equity percentiles.
How do I change my target market percentile for my compensation bands?
You can update your target market position to use the new percentiles either by:
- Visiting the Plan page and clicking on the "Create plan" button in the Active Plan window. The Create Plan window contains a section called “Market position by job area” where you can specify your target salary and target equity percentiles.
- Visiting the Bands page and clicking “Edit” under Target criteria. Once in edit mode, you can change the target market position by selecting the Percentile dropdown.
Market Position by Job Area
Carta Total Comp users will now be able to set their organization's target market positioning by element of compensation (salary + equity) and job area to make sure they're getting a view of market competitiveness that supports their overall talent strategy.
How do I update my Plan to define my market position by job area?
You can update your existing compensation philosophy by:
- Visiting the Plan page and clicking on the "Create plan" button in the Active Plan window.
- Under "Market position by job area" you will see a table containing your default salary + equity positioning.
- Select the "+" icon to create additional market positions by job area.
- Each additional market position will allow you to specify the job area, target salary percentile, and target equity percentile.
How does Market Position by Job Area affect the Employee Scorecard?
The compa-ratio is a quick way to compare an employee's compensation to your plan's target rate for a given job area, level, and location. A plan that specifies a market position for a job area adjusts the target rate for all employees in said job area. These changes can be previewed by selecting the “Save and preview plan” button on the Create Plan page.
Benchmarks version 2022-01-21
- Our market estimates now include measures of the 25th and 75th percentile by job area, level and peer group.
- We've updated the Salary bands for all job areas to reflect market changes and improvements to our benchmarking model.
How do I update my plan to use the new benchmarks version?
You can update your compensation plan to use the latest benchmark versions either by:
- Visiting the Plan page and clicking on the "Update available" link in the Active Plan window.
- Navigating to the Bands page and clicking on the "Update" bubble in the top left.
You will have the opportunity to preview the new plan with the updated benchmarks version and assess their impact on your scorecard before accepting the new plan.
We will be expanding our benchmarks to include salary and equity data for the following Engineering Specializations: DevOps, Frontend, QA, and Software Engineering.