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Setting the Standard for Salary Transparency in Tech

Wise's Commitment to Salary Openness for Software Engineers


Salary transparency in tech at Wise engineers

At Wise, salary transparency in tech is more than a principle; it’s a practice that sets them apart. By openly sharing salary ranges for Software Engineers, Wise builds trust, promotes fairness, and supports financial well-being. Here’s why this is a game-changer for potential employees:

The Benefits of Salary Transparency at Wise

  1. Building Trust and Fairness: Salary transparency eliminates the guesswork and suspicion often associated with compensation. By clearly outlining salary ranges for Junior Software Engineers and Software Engineers, Wise demonstrates its dedication to equitable pay. This openness reassures employees that compensation is based on objective criteria and market standards, fostering a culture of trust and fairness.

  2. Empowering Career Growth: Understanding the financial progression within a company is crucial for career planning. Wise provides a detailed breakdown of salary ranges for different career levels, enabling employees to set realistic career goals. For instance, a Junior Software Engineer in Estonia can see a clear path from earning between €35,000 - €46,000 to advancing to a Software Engineer role with a salary range of €64,000 - €88,000. This transparency motivates employees to strive for excellence and progression.

  3. Attracting Top Talent: In the tech industry, attracting and retaining top talent is a significant challenge. By being upfront about salary ranges, Wise positions itself as an attractive employer for skilled Software Engineers. Potential candidates are more likely to apply to a company where compensation expectations are clear, reducing the time and effort spent on negotiations and fostering a positive recruitment experience.

  4. Promoting Financial Well-being: Clear salary information helps employees plan their finances more effectively. Whether it's budgeting for day-to-day expenses or making long-term financial decisions, knowing one's earning potential is invaluable. Wise's transparent salary structure supports employees' financial well-being, contributing to their overall job satisfaction and stability.

Salary Ranges at Wise:

Junior Software Engineer - Career Level 1:

  • Estonia: €35,000 - €46,000

  • UK: £45,000 - £60,000

  • Hungary: 800,000 - 1,150,000 HUF (monthly)

  • Singapore: SGD 81,600 - SGD 108,000

  • USA: $115,000 - $145,000

Software Engineer - Career Level 2:

  • Estonia: €64,000 - €88,000

  • UK: £80,000 - £115,000

  • Hungary: 1,500,000 - 2,200,000 HUF (monthly)

  • Singapore: SGD 147,000 - SGD 204,000

  • USA: $170,000 - $260,000

Senior Software Engineer - Career Level 3:

  • Estonia: €64,000 - €88,000

  • UK: £80,000 - £115,000

  • Hungary: 1,500,000 - 2,200,000 HUF (monthly)

  • Singapore: SGD 147,000 - SGD 204,000

  • USA: $170,000 - $260,000

Staff Software Engineer - Career Level 4:

  • Estonia: €88,000 - €105,000

  • UK: £110,000 - £150,000

  • Hungary: 2,100,000 - 2,550,000 HUF (monthly)

  • Singapore: SGD 204,000 - SGD 276,000

  • USA: $240,000 - $300,000

Principal Software Engineer - Career Level 5:

  • Estonia: €98,000 - €120,000

  • UK: £140,000 - £180,000

  • Hungary: 2,350,000 - 2,900,000 HUF (monthly)

  • Singapore: SGD 258,000 - SGD 330,000

  • USA: $300,000 - $400,000

Scope of Roles at Wise:

Junior Software Engineer: Seeks out, delivers, and maintains small projects or surface-specific tasks with help from more experienced Engineers.

Software Engineer: Self-directed, prioritizes work to maximize team impact, and participates in defining and delivering team projects.

Senior Software Engineer: Delivers on product-level vision, tasks, and problems, and assists in scoping and executing impactful team work.

Staff Software Engineer: Influences tribe-level product and engineering goals, leads impactful work across teams, and aligns work to maximize impact for Wise.

Principal Software Engineer: Shapes and delivers on company-level engineering/product vision, influences key engineering directions, and raises the bar for engineering practices.

Salary transparency in tech at Wise not only benefits employees but also encourages other companies to adopt similar practices. This commitment to openness enhances its reputation and builds trust among customers and peers.

Impact on Wise, Peers, and Customers

Wise's transparency extends beyond internal benefits; it positively impacts peers and customers as well. By setting a benchmark for openness, Wise encourages other companies to adopt similar practices, contributing to a more transparent and fair industry. For customers, knowing that Wise values and fairly compensates its employees enhances the company's reputation, fostering greater trust and loyalty.

In conclusion, Wise's transparent approach to salary ranges for Software Engineers is a testament to its commitment to fairness, growth, and employee well-being. This practice not only benefits Wise but also sets a positive example for the industry, reinforcing the company's position as a leader in innovation and ethical business practices. Find more: https://wise.jobs/engineering-career-map/?ref=blog.pragmaticengineer.com

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