> ## Documentation Index
> Fetch the complete documentation index at: https://docs.ibbe.services/llms.txt
> Use this file to discover all available pages before exploring further.

# compensation & levelling framework

## Purpose

To define fair, consistent, and transparent compensation bands for every level in the organization. Bands are reviewed annually by Treasury and People and Culture.

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## Levelling Structure

| Level | Title                   | Band      |
| :---- | :---------------------- | :-------- |
| L1    | Fellow                  | Entry     |
| L2    | Senior Fellow           | Mid       |
| L3    | Partner                 | Senior    |
| L4    | Director                | Lead      |
| L5    | Assistant Group Partner | Principal |
| L6    | Group Partner           | Executive |
| L7    | Executive Council       | Apex      |

***

## Compensation Components

Every employee's total compensation is made up of:

1. **Base Salary** — Fixed monthly salary within the band
2. **Performance Bonus** — Paid annually, based on performance review outcome
3. **Benefits** — Health insurance, provident fund, gratuity (as applicable by law)
4. **Equity / ESOPs** — Available from Director level and above (defined separately)

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## Band Philosophy

* Bands overlap slightly between levels to reward high performers at lower levels
* Compensation is reviewed annually in Q4 and updated from January 1
* Mid-cycle adjustments are permitted only upon promotion
* Salary bands are confidential between employee, their manager, and People and Culture

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## Annual Compensation Review

Every year in Q4:

* Treasury reviews company financial position
* People and Culture proposes band adjustments based on market benchmarks
* Chief Partner approves final bands
* Employees are notified of any changes by December 15 for the upcoming year

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## Performance Bonus Scale

| Performance Rating   | Bonus                     |
| :------------------- | :------------------------ |
| Exceptional          | 20% of annual base salary |
| Exceeds Expectations | 12% of annual base salary |
| Meets Expectations   | 6% of annual base salary  |
| Below Expectations   | 0%                        |

**Owner:** Treasury (Director of Financial Planning) in coordination with People and Culture