Compensation Study
The "Compensation Study" report offers a unique, data-driven look at salaries, demographics, and compensation packages within the African startup ecosystem. It aims to promote transparency by providing concrete data on what employees and founders are earning, what benefits they receive, and the demographic makeup of the founding teams.
This detailed study by Briter Bridges, a business intelligence company and Timon Capital, a venture capital firm, was based on a survey of 48 companies across four key African countries (Ghana, Kenya, Nigeria, South Africa) and analysis of the demographics of 1,079 co-founders.
The report addresses the lack of accessible and comparable compensation data in African tech, a significant barrier for both local and international companies when setting competitive salary benchmarks. It provides a foundation for more informed conversations about fair compensation and talent retention.
Key findings and data points:
- The analysis reveals stark gender and ethnicity disparities: only 17% of the 1,079 co-founders analysed were female, and only 13% were expatriates.
- The report provides specific salary bands for various roles (e.g., Sales Associate, Junior Engineer, Senior Engineer, and CEO) across the four focus countries, highlighting regional compensation differences. For instance, the data shows that 60% of CEOs surveyed have a total compensation above $60,000.
- It details which roles are most likely to receive equity or stock (e.g., Board Member, CFO, CTO) and provides an overview of common employee benefits offered (e.g., Health Insurance, Overtime Pay).
- The study explores the demographic profiles of co-founding teams, categorising them by gender, ethnicity (Local vs. Expat), and schooling.
Download the full "Compensation Study" report now to access essential data for salary benchmarking, understand the demographic landscape of Africa's startup leadership, and drive more transparent and equitable compensation practices.
