Today, Tearsheet announced Carta as the winner of the 2023 Data Innovation Award in recognition of Carta Total Compensation—the first database of salary and equity benchmarks for helping venture-backed startups practice fair compensation in the U.S. and more than 40 countries.
Carta Total Compensation uses Carta’s own proprietary machine learning model to build benchmarks for roles in the U.S. based on equity and salary data from over 300,000 employees within Carta Total Compensation. The platform then uses data from non-U.S. employees to create geo-adjustments for non-U.S. markets.
“Over twenty percent of Carta’s mid-market companies have at least one international employee,” says chief product officer Vrushali Paunikar. “With an increase in remote work and more companies hiring internationally, we knew we had to use our database and our expertise to help customers provide fair equity and cash compensation as they scale. We are so grateful to Tearsheet for recognizing the value of the platform.”
Earlier this summer, Carta launched compensation data reports, giving leaders the ability to download reports that help them understand their equity pool runways, see which employees are paid above or below the market rate, and identify which are due for refresh grants. Customers can also use the product to create offer letters and total rewards statements.
Tearsheet's Data Awards are the fintech industry’s top awards program, recognizing and celebrating the best data products, services, and brands powering the modern financial system. The Data Innovation Award recognizes companies providing an innovative use of data, data sharing, or data aggregating that provides superior value to the end-user.
“As apps and institutions further integrate, data and data sharing have become the building blocks of modern finance,” says the team at Tearsheet. “Entire ecosystems are being built around financial institutions and fintechs that incorporate rich and impactful information about their customers.”
Carta is committed to providing data to help companies manage recruiting, hiring, and reductions in force. This year, Carta released a report on the State of Startup Compensation (H2 2022) with another report scheduled for this fall (H1 2023). The report offers market-wide insights from the same anonymized database used by Carta Total Compensation.
For customers interested in learning more about how to access international salary and equity adjustments, visit our support page here.