Compensation dominates the income statement. With headcount comprising up to 70% of a company’s total operating expense, a tremendous amount of scrutiny is put on compensation. Not only is compensation a huge expense for a business, but it’s also one of the most sensitive and hotly contested topics. The interesting thing about compensation is that it often puts teammates at odds – managers stretch to land a top candidate, and compensation teams look to adhere to a prescribed budget. One of the key arbiters in these conversations is data that leaders reference when making compensation decisions.
However, compensation data (particularly in the enterprise) has been largely limited to self-reported survey data that lags markets by six, twelve, and sometimes even eighteen months. It’s also time-consuming to make sense of the date once received, as there are few standard ways of reporting (i.e., bands, geographies, etc.). As a result, teams make decisions based on data already stale the moment they receive it, limiting their ability to compete for the best talent while also hitting budget. This dynamic frustrates every stakeholder in a constant battle over priorities that seem at odds with each other, and there is no efficient path toward resolution. It was out of this frustration that Compa released its market data product.
Compa is pioneering a new approach to compensation market data, leveraging real-time offers data from application tracking systems. Compensation teams can now access real-time, relevant data across a network of participating companies to instantly detect market changes and help facilitate more effective compensation conversations. Founded by Charlie Franklin, an industry veteran with over a decade of experience as a compensation leader, alongside Joe Malandeuccolo and Taylor Cone, Compa’s mission is to make compensation fair and competitive for everyone. Since launching the product in May 2023, Compa has seen incredible growth and now counts a broad range of industry-leading enterprises as customers, including AirBnB, NVIDIA, Stripe, Instacart, Block, DoorDash, Autodesk, and more. We’re proud to invest in the company’s Series A alongside Storm Ventures and Base10 Partners. To learn more about Compa, visit their website at trycompa.com.