- What do I get out of it?
If someone you have referred into the system starts to accumulate Booked Effective Time (BET) with a project you are eligable for a proportion of that when it comes to realisation.
The current referral bonus rate is set at 1%
e.g. Someone you refer attaches to a project and over a period of several months accumulates 500 hours of effort
- The time has been agreed with the project as effective and is a line entry on their accounts.
- The project reaches the point where it receives investment which requires that the accounts are dealt with.
500 hrs at a standard rate of $200ph equals $100,000 of equity that is due to be given to the person who has done the work.
At that point a further 1% of the value is credited to whoever referred them in (you)
$100,000 x 1% = $1000. If you were referred into the system then you get $990 and the person who referred you gets $10
If the individual should decide to 'cash out' at that point rather than take the equity stake then the calculation is slightly different.
Early exit of the equity is at 50% of face value so the individual is due to be given $50,000 - 1% that goes to you.
They get $49,500 and you get $500, if you were referred into the system then the person who referred you gets $5 and you get $495.
(You may want to encourage the person to take the equity rather than the cash value!)