Solvvy Interview Question

Tell me about a time or a project...

Interview Answer

Anonymous

Jun 3, 2021

Hello, We apologize for the experience you had throughout the interview process. It is unfortunate that we were not able to come to an agreement on an offer. To add further context: Being a start-up of ~50 people, we attempt to keep our compensation bands as wide as possible when planning for a role. These compensation bands are taken from industry compensation survey data leveraged by most start-ups of our size. These bands are determined by "level" i.e. L3, L4, L5 etc. and the bands tend to be pretty broad. When planning positions we tend to plan to a range of levels i.e. L3 or L4. Through the evaluation process of a candidate we suss out what level of contribution we feel they can make, slot them into a level and then use market data we have available to help advise us on the offers to make. In the scenario laid out above even if our band was $100K-$130K we would still proceed forward with a candidate within 20% of the top of that band. We may find out through the interview process that their skill-set justifies an up leveling of the role and hence an increase in potential offer. In terms of perks etc. Solvvy does have a 401K in place but we do not match at this time. Lack of 401K matching is a pretty standard across companies of our stage. I apologize if you were misled about our perks / benefits. We will try our best moving forward to ensure that candidates have this information available to them sooner in the process.