5 min read
XOOR prioritizes ensuring the well-being and contentment of our team members, who we consider part of our family. For that reason, we offer our collaborators the choice of being paid in either US dollars or cryptocurrencies. We acknowledge that this benefit is highly valued in Argentina and contributes to our staff's professional development by providing them with financial stability.
In addition, when using this payment method, we try to be clear when it comes to informing the amount of the salary, increases, and the general conditions.
If you want to know more details about how and when we pay, we invite you to read on. We will also tell you about the benefits of being paid with these currencies and everything about workers compensation in Argentina; we will also share with you some recommendations to answer when you are asked about your salary expectations.
In this article:
Every month, on the first working day, XOOR's accounting department asks all team members to review what they will be paid for that month. This is because sometimes we need to refund expenses for training, books, or business trips. Once we receive their approval, we proceed to make the transfers.
When do we pay? Generally, between the second and third working day of the month they receive their salary, although it may take up to the tenth.
The modality and the account in which they want to receive the compensation is decided by the individuals when they sign the contract upon joining the company. They can choose between dollars or cryptocurrencies and at that moment they must indicate the bank information.
It is important to note that collaborators can change the type of currency for payments as many times as needed. To do so, they just need to inform XOOR's accounting department one week before the end of the month.
How much do we pay? It depends on the role, the seniority, the responsibilities that the person will assume in the position. It also depends on whether the job is part-time or full-time and, finally, on the talent's level of expertise.
Being paid in dollars or cryptocurrencies has a major benefit of providing financial stability. In Argentina, inflation causes salaries to lose their value over time. However, with these payment options, that loss is reduced.
Additionally, receiving payment in these currencies allows for unlimited saving without relying on the informal market. Cryptocurrencies, in particular, can be a good option for trading if you have knowledge about it.
Finally, converting dollars or cryptocurrencies to any currency is easy, making it convenient for work and travel around the world without worrying about exchanging Argentine pesos for different currencies in different countries.
Typically, we define compensation as a monetary payment given to an individual in exchange for their services. It can be paid hourly, daily, weekly, monthly, or per task, depending on the job, company, and level of expertise. There are different types of compensation:
Salaried: People receive regular pay for their services based on an agreed time period.
Commission: People are compensated when they reach specific goals, such as selling a product or producing content.
Bonus: People receive an extra payment for doing well over a certain period of time.
However, it's important to note that “compensation” is different from “employee benefits”. Benefits are non-monetary perks that companies offer, such as sick or parental leave, paid vacations, accounting advice, training, etc. These benefits would otherwise incur a cost if an employee had to obtain them on their own.
"Expected salary" is the amount of money you hope to make in a job. When you're looking for work, recruiters might ask about your expected salary to see if they can afford to hire you.
The answer will depend on many factors, like the job market, the economy, and your skills and experience.
When determining your expected salary, it is important to consider not only your own resume, but also the labor demand related to your role or position. For example, if there is a shortage of IT engineers, they can ask for better salaries than other professions. However, even if there is a high demand for programming specialists, if the country's financial situation is bad, companies may not be able to pay what is paid in other parts of the world.
To figure out your expected salary, you can think about your monthly living expenses and add a bit extra for savings. You can also ask people on LinkedIn who work in similar jobs about the typical salary range. Or, if you know someone who works in HR, they might be able to help you find out what people get paid for the job you want.