The IAVI compensation philosophy is based in pay for performance. This foundation supports our business strategy to prioritize resources and energize our focus on advancing the development of safe, effective, accessible, preventive HIV vaccines for use throughout the world.
Our Total Reward Philosophy seeks to:
- Provide employees with rewards that are most valued by them;
- Differentiate individual rewards based on employee performance;
- Encourage and recognize experimentation, entrepreneurship and innovation;
- Influence our work culture and align it to our business objectives;
- Reward employee contributions for achieving strong results against agreed, measurable goals;
- Keep a prudent balance between employee rewards and use of donor funds;
- Establish pay levels for positions on the basis of their external competitiveness with relevant labor markets and their relative internal value, and
- Provide salaries that are within =/- 15% of IAVI market proxy data:
- in the 50th percentile of industry market data for R&D positions
- in the 75th percentile of not-for-profit market data for all other positions.
Total compensation at IAVI includes:
- a base salary, adjusted periodically based on an employee's performance;
- the potential to earn extra compensation from a bonus pool based on organizational performance against annually agreed objectives, and
- a comprehensive benefits package including medical, group life insurance, travel/accident, sickness/disability insurance, paid time off, and retirement plans.