Compensation Types

Pave’s compensation benchmark includes two types of compensation: cash and equity.


Within cash, we break it down into:

  • Base Salary: The fixed cash component of total compensation
  • Variable: Variable includes commissions and bonus. The variable components represents “on target earnings”, or the amount if the individual/team/company hits their goals, not the actual payout amount. 
  • Total Salary: The sum of Base and Variable components


Within equity, we break it down into:

  • Total Gross Value of All Grants: Calculated as the total number of granted shares multiplied by the most recent investor (preferred) price from a company's most recent round of funding.
  • New-Hire Grant: The amount of equity received in the employee's first grant.
  • Total Equity Percentage of All Grants: Calculated as the total number of granted shares divided by the current fully-diluted share count for a company
  • Last Refresh Grant: The amount of equity an employee received in their most recent grant, as long as the most recent grant isn't the employee's first grant (which would be their "New-Hire Grant").
  • Unvested Equity: The amount of equity “left on the table” if the employee were to leave the company.

All equity is shown as a USD cash equivalent and a percentage of the total equity associated with a company. When calculating the cash value of equity we use the company's most recent preferred price from their last round of funding, multiplied by the number of shares granted to an individual; if applicable we subtract the exercise price. In short, we use the net value of the grant.

Note: If you have only connected cash data from your HRIS or payroll system, then you will only be able to see cash benchmarking data. If you’ve only connected equity data from your cap table system, then you’ll only be able to see equity data.