December 18, 2014

Everybody gets a raise

IMG_4477

I just posted on our pay increases for entry level employees. Those have been in place for a couple of months. Starting 2015 we’re going to be putting in place a new compensation package for our restaurant managers and assistant managers as well. 2015 is going to be a good year to work at Clover. We’re going to be paying significantly more than we’ve ever been able to in the past. If you’re not interested in this stuff skip this post. If you work at Clover or are thinking about joining our team you’re going to want to pay close attention. This is what you will get paid to change the world in 2015.

MANAGER PAY

We’re breaking restaurants into tiers based on sales volumes. Base pay will be set by tier. Managers will then receive a quarterly bonus based on their year over year sales increase for that quarter. And on top of the quarterly bonus there will be an end of year bonus based on performance. The end of year bonus potential will grow the longer you’ve been at Clover. Here’s an outline of the structure:

BASE SALARY BASED ON SALES TIER
Tier 1 up to $500,000 sales $40,000/ yr
Tier 2 $500,001 to 1,000,000 sales $45,000/ yr
Tier 3 $1,000,001 to $1,500,000 sales $55,000/ yr
Tier 4 $1,500,001 to $2,500,000 sales $65,000/ yr
Tier 5 Above $2,500,000 sales $75,000/ yr

 

+ BONUS #1: QUARTERLY BASED ON QUARTERLY SALES PERFORMANCE
Ramping restaurant (first 3 years): equal to year over year sales increase
e.g., 18% year over year growth will result in 18% bonus for quarter

 

Ramped restaurant (older than 3 years): equal to 160% of year over year sales increase
e.g., 10% year over year growth will result in 16% bonus for quarter

Bonus is calculated as a percentage of the pay for the quarter in question.
For new restaurants without previous year sales, budget numbers will be used.

 

+ BONUS #2: END OF YEAR BONUS BASED ON PERFORMANCE
First year as a Clover manager Bonus potential 10%
Second year as Clover manager Bonus potential 15%
Third year as Clover manager Bonus potential 20%
Fourth year as Clover manager Bonus potential 25%
Fifth year as Clover manager Bonus potential 30%

 

SCENARIOS

So if you’re running a restaurant at Clover in 2015 that had 2014 total sales of $800,000, and you generate 2015 sales in the first quarter that are 18% higher than the previous year, you would be earning:

Tier 2 Base Salary of $45,000 + Quarterly bonus 18% of your base for that quarter (18% x 45,000/4 = $2,025). At the end of the year if you continue to perform at that level (18%) for the entire year, your total comp would be your base ($45,000) + your quarterly bonuses ($45,000 x 18% = $8,100) + your end of year bonus, which could be as high as 10% your first year as a manager at Clover ($45,000 x 10% = $4,500) up to 30% in your 5th year as a manager at Clover ($45,000 x 30% = $13,500).

Your total compensation for 2015 in this scenario would be $57,600 (if you were a first year manager at Clover) up to $66,600 (if you were a 5+ year manager at Clover). In 2014 the compensation for this same manager with the same performance would have been $47,250 – 51,750. This represents a 22% increase on the low end of the range, and a 29% increase on the high end of the range.

It takes some math to unpack, but compared to other compensation programs I’ve looked at this is something super transparent. And if you take the time to do the math you can see why I’m so excited. I’m going to get to pay some of my managers 20-30% more next year! That’s amazing.

Recent Posts

November 28, 2023
These sweet potato latkes date back to early days on the Clover food truck. They’re so yummy and the sweet potatoes lend them such a fun golden color. They’re probably the most popular item in our Hanukkah Meal Box, which you can get delivered on December 7th. Inside the box you’ll find: 
November 21, 2023
Hope everyone has a great Thanksgiving. We will be closed Thursday 11/23 at all locations. For our kitchen team, it will be a good chance to rest after prepping a ton of Brussels casseroles for our Thanksgiving Box : ) As for the days surrounding Thanksgiving, we’ll be open normal hours, except for CloverFIN (Financial District) and CloverHSC (Harvard Science Center) which will be closed tomorrow and Friday. CloverHSQ (Harvard Square) will be closing early (at 8pm) tomorrow. 
November 16, 2023
I’m not a big believer in multitasking (which, in my experience, is doing a bunch of things simultaneously and badly.) But there’s a lot going on at Clover right now, so I had to break my No Multitasking Rule on Wednesday. I asked Michele and Greg on our Finance team if they’d mind if I took myself off video during a meeting to review Accounts Payable. “I have to draw a cartoon Delicata Squash,” I explained, reasonably.
November 16, 2023
Some of you have been asking for a sides-only box – and it’s true, sides are the best part, aren’t they? We’re making a limited number of boxes with mashed potatoes, gravy, stuffing, cranberry sauce, and King Brussels’ Casserole. Each Sides Box serves 6-8 people and can be delivered to your door for 11/21 or 11/22. 
November 9, 2023
The moment you’ve waited for is here. Western Mass Brussels sprouts are back in the restaurants, which means the King himself has landed! What’s on this glorious sandwich and why is it the King of all seasonal sandwiches? A dijon-mayo spread, smoked Grafton cheddar, fried Brussels tossed with za’atar (a Middle Eastern spice blend), pickled red cabbage, and toasted hazelnuts.
November 6, 2023
On Friday we had a company meeting with all our leadership to talk about a decision we’ve made about the future of Clover. We are all focused on putting Clover on solid financial footing so we can continue to make the food you love for many years to come. COVID changed everything for restaurants like us. The way we eat, drink, work, and get together has shifted substantially and, while Clover has seen a steady recovery in sales…
October 29, 2023
Julia here. Today, October 29, is Clover’s birthday! 15 years of perfect pita, crispy chickpea fritters, countless sandwiches that cycle with the seasons, and of course the occasional birthday cupcake. How lucky are we? Although I’ve been working at Clover for a year and a half, this was my first week as CEO. I’m excited and honored to be stepping into this role. I’ve been a Clover enthusiast for a long time – since my first taste of a Blue Oyster Mushroom sandwich as a grad student in 2013. As COO and now as CEO…
October 26, 2023
If you stop by tomorrow (Friday 10/27) around 11am, you might be treated to a bit of Clover history in the form of a carrot cupcake with buttercream frosting. One per paying customer, while they last! And they may not last long : )
October 26, 2023
A bunch of you have been asking, and yes, we are doing a Thanksgiving Box menu again this year, with all the favorites from years past – Hubbard Squash glazed with maple-Sriracha butter, mashed potatoes, gravy, Ayr’s dad’s walnut-mushroom patè, stuffing – there’s even a limited run of Petsi pies. Free delivery to your door if you’re within 30 miles of us. Click here to reserve yours.
October 22, 2023
I’ve recently asked somebody who believes in Clover as much as I do to step into the CEO role. Julia Wrin Piper has been Clover’s COO for the past 18 months and will take over running the company day-to-day. I’ll be shifting my efforts to provide support for Julia and the team, work on growth opportunities, and pursue partnerships that will amplify Clover’s mission. I’ll remain a member of the Board of Directors and active as an advisor and mentor. Clover is facing a potent mix of opportunity and challenge right now and I know Julia is exactly the right person to lead the team through these twists and turns.
October 18, 2023
On 10/29 Clover will turn 15 years old. It’s been 15 years since we first pulled up a tiny white food truck to the MIT campus in hopes of testing a menu that could make a dent in global warming. Since then we’ve supported so many local farmers; had tons of adventures on board trucks and restaurants; and met tons of wonderful customers. And most of all we’ve made food. Lots and lots of food. In honor of our 15th birthday, we sent out a survey asking you about your favorite LONG-LOST MENU ITEMS. We’ve picked the top results and we’re going to bring them back for one day only – in the form of a Birthday Meal Box!
October 12, 2023
We’ll be pulling up the truck to two events this weekend (a Cornhole Tournament in Lincoln and an Oktoberfest event in Southie), both of which are open to the public! BTW, this photo is of the POV of a beautiful chickpea fritter sandwich, made by Ariel from CloverHSQ. I took it on board the truck, when I got to work one of the events a few weeks ago (a movie night in Southie).