- 10x Ascend — a company that negotiates on behalf of software developers and data science professionals — has officially launched out of beta
10x Ascend is a company that works with software developers, cybersecurity experts, and data science professionals negotiate for better job offers. The company was founded by Michael Solomon and Rishon Blumberg — two entrepreneurs who started out by managing talent in the music industry such as Vanessa Carlton, The Clarks, and Cherry Poppin’ Daddies. From there, they started working with technology freelancers via 10x Management. And recently, they moved into working with full-time engineers, according to TechCrunch.
Blumberg told TechCrunch that often times prospective hires do not feel comfortable asking for what they feel would be good enough compensation including salary, equity, flexibility, vacation time, benefits, etc. And in most cases, there is no one representing the employee’s interests in the discussions. But recruiters represent the employers.
“Even though technologists are data-driven people who work in data-driven environments, they don’t negotiate that much,” said Blumberg via TechCrunch. 10x Ascend can either get involved in the negotiations or advise prospective hires on strategies such as counter-offers.
10x Ascend is spinning out of a beta program that was set up by 10x Management. So far, 10x Ascend already helped nearly 50 senior tech executives negotiate their job offers by increasing their compensation by an average of 35% and in some cases even 100%. 10x Ascend generates revenue by collecting 6-8% of the first-year salaries. The percentage average is even lower for high-level jobs. The company also requires a $3,500 retainer. And 10x Ascend also built a Lifestyle Calculator to help people determine priorities such as salary, work-life balance, equity, annual bonuses, etc.
Blumberg also pointed out that having a third-party enables the prospective hires to essentially have a scapegoat.
“They can say, ‘That was my stupid advisor,’ ” added Blumberg via TechCrunch. “We’re happy to be the bad cop.”
And some employers have been grateful to have 10x Ascend since it helps them set up packages that are more likely able to attract and retain talent.
Some of the companies that 10x Ascend successfully negotiated with include Facebook, Gemini, Attune, Microsoft, Square, Ubisoft, Instacart, HSBC, Google, Salesforce, and Coinbase.
