What are budget ranges and how are they determined?
Budget ranges represent what a candidate is recommended to use when budgeting a full time salary for a specific term of time. The range provides guidance values from junior to senior. It is up to the contributor to provide evidence of where they are on the budget range in terms of their seniority.
Current: The budge range is calculated looking at the tasks and skills of a specific role and then looking at the market value of that type of role. Engaged community members define these initial budget ranges.
Mid term future: A community governance solution could be added that helps with ensuring the roles are well defined and market data is available to inform the voters. The community then can vote on the lower and upper budget ranges.
Long term future: Budget ranges represent the base salary of contributors and an impact bonus could be introduced to incentivise contributors or other community members to maximise their impact whilst being a full time contributor. Governance is needed to oversee the allocation of impact bonus values and to use sensible values.