Hire internationally using Carta Offer Letters

What’s new

Total Comp customers can now send Offer Letters in 140 international currencies.

Get started 

How do I send an Offer Letter in a non-USD currency?

1. Navigate to the Current Offers page and click “Create Offer.”

2. In the “Compensation” section, select the currency for the candidate’s Offer Letter to be created in, regardless of the candidate’s location. 



3. Candidates will be able to view their Offer Letter in the selected currency on the Offer Letter. 


What’s next?

Over the next few weeks, Carta Offer Letters will provide candidates with the ability to view their complete Offer Letter in their local currency and USD using currency conversion at the time the Offer Letter is published. This includes their benefits, Offer Summary, as well as the Compensation Projection chart. 

Learn more

Visit the Carta Offer Letters resource center for more details.

Have additional questions about Carta Offer Letters? Reach out to your Account Manager or contact our Support Team.

Private Dilution Report (Beta)

What's new?

Private dilution reports can be run on Carta.

How does it work?

Private company administrators will be able to run a dilution report that will provide them with diluted shares, average trading prices, and supporting tabs to back out the incremental shares tab. 

In this initial release, the following inputs will be available:

  1. Average and weighted average trading prices, including the ability to add Fair Market Values on weekends and holidays
  2. Diluted shares
  3. Supporting tabs to help users recalculate their incremental shares tab

In the future, Carta will also support:

  • Pre stock split values in dilution reports
  • Weighted average shares outstanding (WASO)

What do I need to do to get started?

To participate in the beta and receive early access to this report, please reach out to us at 718@carta.com.

International Bands and Total Cash Compensation Data for Customer Success

What’s new?

We have two exciting updates now available in Carta Total Comp. You can now use: 

  • International salary and equity adjustments on the Plan and Bands pages
  • Total cash compensation benchmarks for the Customer Success job area

International adjustments

Users will now be able to view salary and equity benchmarks on the Bands page based on adjustments from our US benchmarks. In this initial release, users will have access to adjustments for 45 countries.

How do I see international adjustments?

You can view international adjustments by:

  1. Visiting the Plan page and scrolling down to International Market Adjustments. This section will show you suggested adjustments for salary and equity across 45 countries. These suggested Adjustments are based on Carta data and our knowledge of local market practices.
  2. You can override these suggested adjustments to better match your company’s comp philosophy. Click into them to edit, and save your new adjustment by clicking the check box.
  3. Visit the Bands page to view the adjusted salary & equity benchmarks. Find any of the 45 countries by selecting it from the Location dropdown.

Total cash compensation benchmarks for Customer Success

Carta will now provide total cash compensation benchmarks for the Customer Success job area. Total cash compensation is defined as base salary plus target variable compensation. 25th, 50th, and 75th percentile data are accessible on the Bands page. No other benchmarks have changed in this update.

How do I see total cash compensation benchmarks for the Customer Success job area?

You can view Total Cash Compensation benchmarks for the Customer Success job area by:

  1. Visiting the Bands page and selecting “Customer Success” under Area. 
  2. Select “Total Cash” for compensation type.
  3. This will allow you to view total cash compensation bands for levels 1 - 11 for the Customer Success job area.  

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:

  1. Visiting the Plan page and clicking on the "Update available" link in the Active Plan window.
  2. Navigating to the Bands page and clicking on "Update" 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.

Learn more

Have additional questions? Reach out to your Account Manager or contact our Support Team.

What’s next?

Carta Total Comp is working on updated salary and equity benchmarks for all job areas and specializations.

Set up and send your first Offer Letter with a few clicks

What’s new?

We're introducing an easy way for new Carta Total Comp users to send their first offer letter in just a few clicks. With our new guided onboarding experience, you can get the most out of CTC immediately.

The setup guide will be marked as complete for users with Offer Letters already set up. 

Get started 

You must have "Full Admin" permissions to set up Offer Letters.

  1. Navigate to the Offer Letters page and click “Get started.”
  2. Complete the guided onboarding experience to personalize your Offer Letter for your company.

  3. Once you complete your setup, all Admins, Area Leads, and Recruiters will be able to draft, preview, and send Offer Letters. 


Learn more

Visit the Carta Offer Letters resource center for more details.

If you have additional questions about Offer Letters? Please reach out to your Account Manager or contact our Support Team.

Share Offer Letters via a link

What’s new

CTC customers can now send Offer Letters to candidates with a simple URL link if they are not using Carta’s candidate acceptance flow. This will allow companies to send Offer Letters to candidates via an existing email thread with a candidate or additional signatory tool of their choosing. 

Get started 

How do I send an offer letter via link?

  1. Navigate to the Offer Letters page
  2. Draft, preview, and save an offer letter by clicking “Create new offer”.

 3. Once you have saved your offer letter, click “Copy link”, the URL can be pasted and shared to grant access to the published Offer Letter.

 

Learn more

Visit the Carta Offer Letters resource center for more details.

Have additional questions about Carta Offer Letters? Reach out to your Account Manager or contact our Support Team.

Send an Offer Letter directly from the Bands page

What’s new

All CTC customers can now save time by seamlessly previewing and sending Offer Letters straight from the Bands tab. 

  • Companies who have configured the required settings for Offer Letters send Offer Letters faster with pre-filled job and compensation package details .
  • For companies who have not configured Offer Letter settings, a preview of an Offer Letter with a recommended compensation package will be provided. Admins can always quickly configure Offer Letters settings in the Settings tab. 

Get started 

How do I send an Offer Letter from the Bands page?

Here’s how to get started: 

1. Navigate to the Bands page.




2. Click on the Job Breakdown for a particular Role.


3. Click “Create offer” to be shown a preview offer letter with a recommended compensation package based on your company’s Plan information, specific for that Role.


4. Companies who have already configured the required Offer Letter settings will be redirected to the “Create New Offer” page with pre-filled salary and Role information.


Companies who have not configured the required Offer Letter settings will be shown a preview of an Offer Letter for the specific Role. Admins can click “Send your first offer” to be guided on how to configure the required Offer Letter settings before sending your company’s first Carta Offer Letter.

Learn more

Visit the Carta Offer Letters resource center for more details.

Have additional questions about Carta Offer Letters? Reach out to your Account Manager or contact our Support Team.

Notify Users of Insufficient Funds

What’s New

When a user’s bank account does not have sufficient funds to pay for the exercise via ACH, Carta will warn the user when reviewing the exercise. The user will have the option to change the selected bank account, lower the amount of options to exercise, or proceed with the exercise.

Additional improvements to the review exercise page better highlight key details of the exercise, reducing the need for scrolling. The UI also now explicitly states that the total represents a cost to the user.


Users choosing to proceed are then given a final message that an underfunded exercise may be canceled.

Who this affects

This feature is available to employees who have set up their ACH bank account on Carta through Plaid. 

How it works

Carta is using Plaid Balance to confirm the available balance of the associated bank account prior to submitting the exercise request. No account balance information is stored on Carta. This feature does not block users from submitting exercise requests, rather warns them about the potential risk of a canceled exercise.

What happens if the selected bank account doesn’t have enough money for the exercise? 
We now warn users that their account doesn’t seem to have enough money to cover the exercise cost. We allow them to proceed anyway, as they could potentially add funds to the account before Carta attempts to pull the funds. If it turns out there are insufficient funds, we will cancel the exercise.

How does Carta know how much money is in my bank account?
By connecting a bank account through Plaid, we can use Plaid’s APIs to retrieve real-time balance information at the time of the exercise request. Checking the accounts available balance represents the predicted balance net of any pending transactions. This type of information is often used to protect against overdrafts and non-sufficient funds fees. For more information on Plaid Balance, see here.

What if I manually connected my bank account?
Users can always connect their bank accounts manually instead of using Plaid. For these users we cannot know their available balance and they will not receive any warnings about insufficient funds.

Timing

  • 12/21/2022 - Released to 25% of users, with general availability by the end of January

How do I learn more or get help?

Visit Carta Support for more details on Exercising Using ACH and Setting Up Your Bank Account

New job specializations, quarterly refresh of equity benchmarks, and benchmark version selector

What’s new?

We have 3 exciting updates now available in Carta Total Comp. You can now use: 

  • Refreshed equity benchmarks
  • Benchmarks for 4 new specializations 
  • Benchmark version selector (Bands page)

View new job area specializations

Users will now be able to view and use new salary and equity benchmarks for the following specializations:

  • Office Management (within Administration) 
  • Recruiting (within HR) 
  • Digital Marketing (within Marketing)
  • Partnerships (within Strategy)

Note: Our sample size for new specializations  can be smaller than job area benchmarks, which could result in data volatility as we continue to update the data and grow our overall sample size. 

How do I see benchmarks for the additional specializations?

You can view benchmarks for the Digital Marketing specialization by:

  1. Visiting the Bands page and selecting “Marketing” under Area. Once the marketing job area is selected, you can select the digital marketing specializations by selecting the Specialization dropdown.

  1. This will allow you to view salary/equity bands for levels 1 - 7 for the Digital Marketing specialization.  
  2. The above process can be followed for each of the new specializations.

How do benchmarks for the additional specializations 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. The compa-ratios for an employee assigned to the Administrative (Office Management), HR (Recruiting), Marketing (Digital Marketing), Strategy (Partnerships) specializations will now be calculated using the target compensation for the specialization not the job area.

Use refreshed equity benchmarks version 2022-12-20

What changes can I expect from these benchmarks?

We have updated equity benchmarks for all job areas and specializations. These benchmarks are a reflection of the current market, characterized by limited fundraising, a slowdown in hiring, and a potential decrease in some company valuations. As a result, these benchmarks show decreases in target equity compensation. This is due to having a higher concentration in earlier stage valuations and more junior level roles. Equity benchmarks across mid-to-late stage companies and more senior level roles are flat to slightly above our previous benchmarks. Looking forward to 2023, assuming the overall environment remains the same, we would anticipate continued volatility and potential decreases in equity benchmarks.

How do I update my plan to use the new benchmarks version?

You can update your compensation plan to use the latest benchmark versions in one of two ways: 

  1. Navigating to  the Plan page and clicking on the "Update available" link in the Active Plan window.

  1. 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.

View the current market without affecting your Scorecard

Carta is focused on providing your business with the latest market compensation data. We understand that your plan is tied to a point-in-time, making your benchmark version an integral part of your compensation philosophy. We also understand that viewing future versions can help in understanding the current market, headcount planning, and more. Carta is excited to announce that you can now access the latest compensation benchmarks without updating your Plan. 

The Bands page will now default to Carta Total Compensation’s latest benchmarks. However, regardless of what is selected on the Bands page, the Scorecard will remain associated with your selected Plan’s benchmark. Users can easily toggle between the latest benchmarks and those associated with their compensation plan using the Benchmark version dropdown. How do I toggle the Bands page to display the benchmark associated with my Plan?

  1. Visit the Bands page and click the Benchmark version dropdown. 
  2. Select “Default Plan” to view the Bands page using the benchmark associated with your compensation plan. 

What’s next?

Carta Total Comp is working on international geo-adjustments.

Show employees their bonus programs in their Total Rewards Statement

What’s new

Variable Compensation Programs are now automatically reflected in an employee’s Total Rewards Statements for all Carta Total Compensation customers. 

Give employees complete visibility into their total compensation 

Show employees all the bonus programs that have been assigned to them in their Total Rewards Statement.  

  1. Enable employees to see a complete picture of their compensation, including any variable programs that you’ve assigned to them 
  2. Save time with variable compensation programs automatically attached to your employees’ Total Rewards statements, with no additional manual work on your end 

Get started 

How do I create a Variable Compensation Program and reflect it in my employees’ Total Rewards Statement?

You can get started with VCP in seconds. Here’s how to get started: 

  1. Navigate to the Plan page.
  2. Variable Compensation Programs can be found on the bottom half of the page.
  3. Click “Create variable compensation program” to be guided through the process of creating your first variable compensation program.
  4. Once you have created a variable compensation program(s) and assigned those to the correct employees, they will automatically be shown in an employee’s Total Rewards Statement. 

Learn more

Visit the Carta Total Rewards resource center for more details.

Have additional questions about Total Rewards Statements? Reach out to your Account Manager or contact our Support Team.

On-demand educational content for employees with Tax Advisory

What's new

Employees who have access to Carta Tax Advisory through their employer now have access to on-demand educational content in their Carta portfolio. As an employee, you have the ability to re-watch your company’s recorded webinar, as well as view chapters of key concepts about your equity. The video chapters cover topics such as exercising your option, selling your options and other important topics.


Who this affects

This feature is available to employees who have access to Carta Tax Advisory through their employer. Employees will be able to view their company's recorded webinar once it has been completed.

Where to find it

As an employee, navigate to the Learn section of the Tax Advice page in your Carta portfolio. If you have any additional questions, please schedule a session with an Equity Tax Advisor.

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