Insights for Carta Total Compensation
In order to communicate more information about the benchmark data in Carta Total Compensation, we are now providing several metrics to provide greater clarity around both our peer groups and individual benchmarks. This new information includes aggregate sample size data, benchmark confidence indicators, and more information about each job area/level (including details like complexity, autonomy, and scope).
Aggregate sample sizes in Total Comp
The Bands page now highlights the aggregate sample size to give you insight into the data that contribute to Total Comp’s benchmarks for a particular peer group.
How do I locate the aggregate sample size for a particular peer group?
- Navigate to the Bands page.
- Select your peer group.
- The aggregate sample size for said peer group will be listed under the selected peer group.
- This includes both the number of records as well as the number of companies which factored into the benchmarks for the specified peer group.
Carta provides confidence metrics for sample size, recency, and goodness of fit to understand Carta’s stated confidence in the benchmark for a particular band. Confidence metrics are calculated for the band (job area x level) across all peer groups.
- Sample size: The number of datapoints included in this benchmark.
- Recency: The relative proportion of newly effective datapoints underlying the benchmark.
- Goodness of fit: The accuracy of the model to predict benchmarks based on trends in the underlying data.
How do I find the benchmark confidence for a particular band?
You can find the benchmark confidence for a particular band either by:
- Navigating to the Bands page and hovering over the band to view the band level confidence tool tip.
- Navigating to the Bands page and selecting a role within the bands table to launch the Job Breakdown Modal.
Band Level Details
Band level details provide complete benchmark information all in one place. This includes percentile data for salary and equity, benchmark confidence metrics, and additional details about each job area/level.
- Band overview: High-level details for the selected band (area x level).
- Compensation breakdown: Visual breakdown of the salary + equity compensation for the selected band across all target percentiles.
- Benchmark Confidence: Visualization of Carta’s confidence in the underlying sample size, recency, and goodness of fit for a given benchmark.
- Band level details: Explainers covering the roles and responsibilities for the currently selected band (job area x level).
How do I enable Insights for Carta Total Compensation?
In order to access the new Insights functionality in Carta Total Compensation, you must first ensure your account is updated to the 2022-07-12 benchmarks. 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.
Carta Total Compensation will add the ability to define variable compensation programs and assign them to employees