As described in https://forum.opencraft.com/t/raises-for-2018/285, every year I review the financials to see if we can apply raises, and if so by how much. The way we handle raises is by applying them at the team level, rather than individually. Everyone who has been at OpenCraft for the whole year being reviewed get them, i.e. here 2020 – and not just to those who ask, or target it specifically. It avoids some politics, and makes it a team effort, with a team reward.
So, how much?
It has been a strange year, but as noted in the https://forum.opencraft.com/t/2020-retrospective-2021-outlook/765, it has been a good year for online education, and we benefited from it at OpenCraft. It has also been a difficult year, with a lot of work and many changes – so I’m glad we are able to provide a significant raise, of 10%.
The idea with providing such a large raise, compared to other companies (the average is usually around 3%), is that it’s a way to share some of the benefits with those who have been contributing to OpenCraft’s growth for a long time, and helped making it what it has become today.
How to get it?
If you have been in the team long enough to benefit from it, i.e. joined (or re-joined ) before January 1st 2020, you don’t have anything to do to benefit from it - it will start applying in your next invoice, retroactively to cover all hours done since January 1st. It is based on your previous hourly rate plus 10%, rounded to the nearest integer. If there is something wrong with this when you review your January invoice in a couple of weeks though, let me know.
For reference, here is the history of raises in recent years, along with the links to the relevant forum posts (from the time the forum started existing ) :
Of course, nothing is certain, and even if the perspectives for 2021 look bright currently, we’ll still need to be careful, especially given the scale of the investments we’ll be doing, as described in the 2021 outlook document. We’ll need to keep a close eye on overhead, to make sure we spend our internal time well, keep the cell overhead and sustainability under control, and be ready to adapt if circumstances change.
But for now, things look good, so we should enjoy it! This is our common accomplishment - Kudos everyone.