With startup investments reaching a record high and 14,000 new recognized startups getting added in 2021-22 alone. As a result, the demand for top talent has significantly shot up while the availability remains in short supply. As a result, we are witnessing a candidate-first market.
While this mega shift was happening, Spottabl has been busy with its platform-aggregated data to understand how much the compensation ranges have been impacted and what are some of the new industry trends emerging from it.
For early-stage startups, the report would provide clarity on the market trends to help them set competitive compensation and attract the best talent faster. For the growth stage and slightly more mature start-ups, it would help consistently analyze whether their internal salary benchmarking exercise is on the right track.
The data has been collated from 50,000+ applications, 1000+ recruitment partners, and 100+ product startup customers from the renowned VC portfolios on the Spottabl platform.
Note: The data collected for this study is based on Spottabl’s internal team’s research & has been verified by known and unknown sources.
Here are the top 4 takeaways from this report for all the CXOs, HRs, TA teams and startups:
– As the market is candidate-driven, it is very important for growth and late-stage startups to understand the industry benchmarking & keep themselves updated with the same
– Keep up to date with the new industry trends like adding ESOP elements and design their internal benchmarking accordingly
– Whenever a startup is exploring hiring for new roles/opening a new department, this can help them to understand what’s the industry standard & attract relevant talent
– This benchmarking also helps in the negotiation process with the candidates (especially for the candidates who are dedicatedly offer shopping)
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