How Fanatics Pays
Fanatics' reconstructed P1 to IC6 professional and technical ladder and M1 to M3 leadership tiers priced across 22 markets, private RSU-style equity vesting 25 percent then monthly at a contested private valuation, no disclosed CEO pay or pay ratio, and a $174,474 FY2025 H-1B median.
Band Hierarchy
No public Fanatics source discloses numeric bands, grade codes, salary structures, promotion gates or an enterprise-wide job architecture. The ten bands priced on this page are a reconstruction from live job titles, employee-submitted level labels, certified H-1B filings and the official leadership roster, and they are explicitly not Fanatics grade codes. The hourly frontline population is described here but deliberately kept out of the priced ladder.
Professional ladder — P1 coordinator and associate
Technical ladder — IC2 through IC6
Management ladder — M1 through M3
Executive
Disclosed executive layer
Track divergence
Hierarchy qualifications and legacy structures
- Fanatics has never published a grade or band chart. Every band code on this page is a research label invented for comparison, so quoting P1 or IC5 to a Fanatics recruiter will not connect to anything internal.
- Levels.fyi labels such as SWE I, II, III, Senior, Staff and Senior Staff are external market conventions applied to submitted offers. They are useful signals about where a package sits in the market, not evidence of an internal Fanatics grade code.
- Fanatics has accumulated businesses and workforces through transactions including Lids, Topps and Mitchell & Ness alongside European operations. No public source describes how legacy grades, bonus plans or equity awards were harmonised, so pay should be expected to vary by business unit, acquired entity, worker category and legal employer.
- Roughly 7,000 of the 22,000-plus workforce are part-time, seasonal, contractor or temporary. Any figure presented as a Fanatics-wide median is really a statement about which worker categories were counted, and the Levels.fyi $163,699 median counts almost none of them.
- A current Senior Manager, Compensation requisition explicitly owns annual compensation planning, merit increases, bonus planning and calibration. That confirms a formal cycle exists but discloses nothing about its month, effective date, off-cycle process, merit budget or market-correction history.
- The executive band E1 is a market model, not a disclosure, and is excluded from the range chart. There is no Fanatics chief executive row in the ladder at all, because no element of Michael Rubin's compensation has ever been published.
Peer-level mapping
| Band | Archetype | Peer mapping | Caveat |
|---|---|---|---|
| P1 | Coordinator / associate / junior specialist | Reads as an early-career professional entry grade, the equivalent of a large-cap L3 or E3 business role, one step above the hourly frontline population and one step below a graduate engineer. | External equivalence only. Fanatics publishes no grade code, and a coordinator title at Commerce, Collectibles and Betting & Gaming can sit in three different labour markets at the same nominal level.New York model median of a $55,000 to $85,000 base range. The bundle's $76,000 median total has been rebuilt from components: its residual implied about $3,200 of equity at a band where the same bundle records no routine grant, so equity is set to zero here. |
| IC2 | Engineer I / analyst / specialist | Equivalent to a graduate or first-promotion engineer at a large technology employer. Levels.fyi reports about $124,000 of total compensation for Software Engineer I across Fanatics' United States sites. | The $124,000 figure is a blended national sample, not New York, and equity eligibility at this band is described as selective rather than automatic.New York model median of a $95,000 to $145,000 base range, with the annualised equity taken as one quarter of the bundle's $0 to $40,000 modelled grant envelope. |
| IC3 | Engineer II / senior analyst / PM II | A mid-level engineer or product professional. Levels.fyi reports about $173,000 of total compensation for Software Engineer II, and the Indian equivalent at 2.96 million rupees and the United Kingdom equivalent at £95,925 both sit at this band. | The United Kingdom decomposition of £79,785 base plus £5,969 stock and £10,171 bonus shows equity is a small share of the package outside the United States at this level.New York model median of a $125,000 to $180,000 base range. The $10,000 annualised equity is consistent with the $8,300 Levels.fyi observed at the adjacent Software Engineer III point and sits inside the bundle's $20,000 to $100,000 grant envelope. |
| IC4 | Senior engineer / SWE III / senior PM | The senior individual-contributor terminal grade at most employers. Levels.fyi reports $178,000 total for Software Engineer III as $156,100 base plus $8,300 stock and $13,900 bonus, and $232,200 for Senior Software Engineer as $185,000 base plus $29,200 stock and $18,000 bonus. | Fanatics uses both the Roman-numeral and the Senior naming convention, and the two observations differ by $54,000 of total pay, so confirm which label the requisition carries before benchmarking an offer.New York model median of a $150,000 to $205,000 base range. Certified H-1B records support the base: a $174,173 Jacksonville median and a $172,900 San Mateo senior data engineer. |
| IC5 | Staff / principal / lead | A staff-level technical leader owning a domain rather than a team. Levels.fyi reports $248,000 to $256,000 of total compensation on roughly $201,000 to $204,000 of base, with unusually large variation between cities. | City variance is the dominant effect at this band: an observed Jacksonville Staff Software Engineer package can sit materially below a San Mateo or New York one for the same title, and a Jacksonville Staff Product Manager was certified at only $104,541.New York model median of a $180,000 to $240,000 base range, with annualised equity taken as one quarter of the bundle's $100,000 to $300,000 grant envelope. |
| IC6 | Senior staff / distinguished | A senior staff or distinguished expert with enterprise-wide technical scope, the individual-contributor equivalent of a director. Levels.fyi reports $335,800 total as $249,200 base plus $41,000 stock and $45,600 bonus. | The Fanatics sample at this band is sparse and skewed by whoever chose to submit, so the $335,800 point should be read as one credible observation rather than a market median.New York model median of a $220,000 to $300,000 base range. The $51,000 annualised equity and $57,000 bonus track closely to the observed $41,000 and $45,600 decomposition. |
| M1 | Manager / senior manager | A first or second-line people manager. Levels.fyi reports a $400,000 median for Software Engineering Manager, which sits far above the modelled band and is the clearest small-sample upper-tail risk in the whole dataset. | Do not benchmark to the $400,000 point without checking the sample. It is drawn from a handful of submissions and is inconsistent with both the Glassdoor director range and the certified visa record for information-systems managers.New York model median of a $135,000 to $230,000 base range, the widest spread of any band because manager scope varies enormously between Commerce, Collectibles and Betting & Gaming. |
| M2 | Director / senior director | A multi-team or whole-function leader. Glassdoor puts Fanatics director total pay at $186,000 to $293,000, and current senior-director postings disclose base alone at $195,500 to $307,000 depending on function and location. | The posting evidence is the strongest anchor on the ladder because it is official and geography-specific, but it states base only and omits the bonus and equity that make up the rest of the package.New York model median of a $185,000 to $300,000 base range, cross-checked against the $195,500 to $307,000 senior-director posting range. |
| M3 | Vice president / senior vice president | An enterprise or divisional functional head. Glassdoor puts the typical Fanatics vice-president total-pay range at $211,000 to $387,000 and Indeed reports a $265,500 average. | Both third-party ranges almost certainly understate the band, because neither captures private equity value and this is the first level where the grant, not the cash, is the dominant term.New York model median of a $220,000 to $400,000 base range with a 30 to 60 percent target. Annualised equity is one quarter of the bundle's $500,000 to $3,000,000 grant envelope, the widest on the ladder. |
| E1 | EVP / C-suite / business-unit CEO | A named-executive-equivalent layer. At a listed peer this cohort would appear in a Summary Compensation Table; at Fanatics it appears only on a leadership web page with no figure attached to any name. | Every number in this row is a research model built from executive market data, not a Fanatics disclosure. It is excluded from the range chart because a $5.5 million median would compress every employee band into a single line.New York model median of a $350,000 to $800,000 base range with a 50 to 150 percent target and a $2,000,000 to $20,000,000 modelled grant envelope. No Fanatics executive pay figure exists in the public record. |
Critical evidence warning
This page mixes three very different qualities of evidence and the difference matters more at Fanatics than at a listed employer. Official evidence is limited to job postings with disclosed base ranges, the benefits and leadership pages, government WARN and gender-pay records and certified labour condition applications. Reported evidence comes from employee-submitted salary databases with real selection bias: the Fanatics samples are small, technology-weighted, concentrated in the United States and in one case internally inconsistent, since the Indian Senior Software Engineer median of 6.262 million rupees exceeds the Staff point of about 4.57 million. Everything else on this page is modelled, meaning a New York anchor multiplied by a city factor and an exchange rate inside a planning envelope. A modelled cell is a planning aid and must never be quoted back as a Fanatics salary band. Where a figure genuinely does not exist in the public record, this report says so instead of interpolating one.
Compensation by Band — New York
Low / median / high annual values at 1.00× base and 1.00× total-compensation factors versus New York. Total equals base plus bonus plus annualized equity.
| Band | Title | Base | Variable | Total TC | Equity |
|---|---|---|---|---|---|
| P1 | Coordinator / associate / junior specialist 0-3 years · modeled | $60K – $81K | 4% | $73K $62K – $84K | — |
| IC2 | Engineer I / analyst / specialist 1-4 years · modeled | $102K – $138K | 10% | $137K $116K – $158K | $5K |
| IC3 | Engineer II / senior analyst / PM II 3-6 years · modeled | $129K – $175K | 12% | $180K $153K – $207K | $10K |
| IC4 | Senior engineer / SWE III / senior PM 5-9 years · modeled | $151K – $205K | 16% | $218K $185K – $251K | $12K |
| IC5 | Staff / principal / lead 8-13 years · modeled | $179K – $242K | 18% | $278K $236K – $320K | $30K |
| IC6 | Senior staff / distinguished 12-18 years · modeled | $221K – $299K | 22% | $368K $313K – $423K | $51K |
| M1 | Manager / senior manager 7-14 years · modeled | $155K – $209K | 20% | $248K $211K – $285K | $30K |
| M2 | Director / senior director 12-20 years · modeled | $206K – $278K | 25% | $340K $289K – $391K | $38K |
| M3 | Vice president / senior vice president 15-25 years · modeled | $264K – $357K | 45% | $600K $510K – $690K | $150K |
| E1 | EVP / C-suite / business-unit CEO 18+ years · modeled | $489K – $661K | 100% | $5.50M $4.67M – $6.33M | $4.35M |
Total Compensation Range by Band
Total compensation in New York across the employee bands. Proxy-disclosed executive cohorts are excluded so the employee bands stay readable.
Global Footprint & Pay Arbitrage
Fanatics reports more than 80 offices and facilities worldwide but names only seven key offices. Everything else in the footprint table is an observed hiring market, an operating-footprint assumption or an explicit model-only selector, and the table labels which is which on every row.
Office and market catalogue — calibration factors versus New York
| Location | Likely office profile | Presence | Base | TC |
|---|---|---|---|---|
New York United States · USD | Anchor market and the first-named official key office. Corporate, product, commercial and group leadership roles sit here, and it carries the two highest disclosed H-1B filings in the record at $225,000 each for senior product management. | Official key office | 1.00× | 1.00× |
Jacksonville United States · USD | Official key office and the historic operating hub, with a large commerce and operations presence. It also carries the widest occupational spread in the visa record, from a $174,173 Staff Software Engineer median to a $49,566 staff accountant. | Official key office | 0.78× | 0.78× |
San Mateo United States · USD | Official key office and the only market priced above the New York anchor. It is the technology and data centre of gravity, with certified filings from $116,646 for a Data Scientist II to $250,000 for a senior data engineering manager. | Official key office | 1.10× | 1.10× |
Tampa United States · USD | Official key office covering operations and corporate roles. The Florida WARN database records 286 affected employees on a phased Riverview-area schedule running March to July 2026 after a November 2025 notice. | Official key office | 0.79× | 0.79× |
Boulder United States · USD | Not one of the seven official key offices but clearly evidenced in job and visa data, including a $141,960 senior cloud engineer filing. Priced close to the anchor because Colorado technology pay sits near coastal levels. | Observed hiring market | 0.94× | 0.94× |
Los Angeles United States · USD | Observed in current salary postings for entertainment, brand and technology roles. Not an official key office, so the premium over New York reflects market pricing rather than a confirmed Fanatics pay zone. | Observed hiring market | 1.04× | 1.04× |
Frisco, TX United States · USD | North Texas operating footprint, modelled from the regional market and Fanatics hiring data rather than from a confirmed office. No certified visa record was retrieved for this worksite. | Operating footprint | 0.86× | 0.86× |
Las Vegas United States · USD | Betting, events and retail market relevant to Fanatics Betting & Gaming, where postings commonly add an equity award and remote or home-office support on top of the annual bonus. Priced from market data, not a confirmed office. | Operating footprint | 0.82× | 0.82× |
Louisville United States · USD | Lowest-priced United States market in the model and the one most representative of fulfilment and distribution geography. The corporate factor shown here does not describe hourly warehouse pay, which is set against local minimum-wage and logistics markets instead. | Operating footprint | 0.70× | 0.70× |
Hyderabad India · INR | Official key office and the only confirmed Indian site, opened with an initial engineering focus. Employee records show 2.96 million rupees total at Software Engineer II and 6.262 million at Senior, with a Staff point near 4.57 million that inverts the ladder on a tiny sample. | Official key office | 0.23× | 0.23× |
Bangalore India · INR | Model-only selector retained for Indian market comparison. No major Fanatics office was confirmed here, and the 0.26 factor is a market premium over Hyderabad rather than an observed Fanatics pay position. | Model only | 0.26× | 0.26× |
Manchester United Kingdom · GBP | Official key office and the major United Kingdom operating centre. Fanatics International Ltd is also the legal entity behind the only mandatory pay statistic Fanatics publishes anywhere, its annual gender pay gap filing. | Official key office | 0.63× | 0.63× |
London United Kingdom · GBP | Observed corporate and commercial hiring market carrying a roughly 14 percent premium over Manchester, but not listed among the seven official key offices, so treat the premium as market pricing rather than a published Fanatics zone. | Operating footprint | 0.72× | 0.72× |
Berlin Germany · EUR | European commerce footprint. Compensation is modelled from the German market; no Fanatics posting range or visa record was retrieved to calibrate it directly. | Operating footprint | 0.65× | 0.65× |
Mannheim Germany · EUR | Retained as a model-only selector for the German operating region. A major employee hub here was not independently confirmed, and the discount to Berlin is a secondary-city market assumption. | Model only | 0.58× | 0.58× |
Paris France · EUR | Observed against a current Fanatics job range within the European commerce footprint, which is why it prices slightly above Berlin despite a smaller confirmed presence. | Observed hiring market | 0.67× | 0.67× |
Tokyo Japan · JPY | Official key office; Fanatics Japan opened with a dedicated local team. The 0.62 factor reflects a Japanese market where cash dominates and the equity component of a global offer is unusually hard to price locally. | Official key office | 0.62× | 0.62× |
Toronto Canada · CAD | Observed event and retail hiring, but a major corporate hub was not confirmed. Priced from the Canadian technology and commercial market against the New York anchor. | Operating footprint | 0.74× | 0.74× |
Sydney Australia · AUD | Australia sits in the Fanatics commercial footprint but a major Sydney employee office was not confirmed. Only three sparse Glassdoor submissions exist, covering a marketing coordinator, a business development manager and a data engineer between A$67,000 and A$84,000. | Market model only | 0.72× | 0.72× |
Auckland New Zealand · NZD | Included for regional coverage with no confirmed Fanatics office. The factor is a New Zealand market position relative to New York, carrying the widest evidence caveat of any row in this table. | Market model only | 0.64× | 0.64× |
Singapore Singapore · SGD | Asia-Pacific coverage selector with no confirmed Fanatics office. It prices as the highest-cost non-United States market in the table, level with Jacksonville, on Singapore market data rather than Fanatics evidence. | Market model only | 0.78× | 0.78× |
Dubai United Arab Emirates · AED | Middle East coverage selector with no confirmed Fanatics office. Local packages are typically gross of income tax but net of an end-of-service gratuity accrual, neither of which is modelled here. | Market model only | 0.72× | 0.72× |
Official Fanatics material confirms only seven key office locations against more than 80 offices and facilities, so the footprint table deliberately over-represents markets Fanatics itself has never named. Read the presence column before the numbers: an official key office row and a market-model-only row look identical in the pricing grid but are separated by the entire difference between company confirmation and market inference.
New York anchor medians — the basis of every modeled cell
| Band | Base | Stock | Bonus | Total |
|---|---|---|---|---|
| P1 | $70K | $0 | $3K | $73K |
| IC2 | $120K | $5K | $12K | $137K |
| IC3 | $152K | $10K | $18K | $180K |
| IC4 | $178K | $12K | $28K | $218K |
| IC5 | $210K | $30K | $38K | $278K |
| IC6 | $260K | $51K | $57K | $368K |
| M1 | $182K | $30K | $36K | $248K |
| M2 | $242K | $38K | $60K | $340K |
| M3 | $310K | $150K | $140K | $600K |
| E1 | $575K | $4.35M | $575K | $5.50M |
- New York is the anchor because it is the first-named official key office, it carries the group corporate, product and commercial population, and it holds the two highest disclosed United States wage records in the whole file at $225,000 each for a Fanatics Loyalty senior product manager.
- The seven official key offices are New York, Jacksonville, San Mateo, Tampa, Manchester, Tokyo and Hyderabad. Those are the only rows in the footprint table where the presence itself is company-confirmed rather than inferred.
- San Mateo is the only market priced above the anchor, at 1.10 times, and Louisville the lowest at 0.70 times, so the entire United States spread inside this model is a factor of 1.57 between the cheapest and most expensive market for the same band.
- Hyderabad at 0.23 times is the largest single arbitrage in the table, but it is also the market where the employee sample is smallest and least internally consistent, so it carries the widest planning error of any confirmed office.
- Bangalore, Mannheim, Auckland, Singapore and Dubai are retained purely as model-only or market-model-only selectors. No major Fanatics office was confirmed in any of them, and their factors are market positions rather than Fanatics observations.
Model rules
- Every city factor in this table is flat across the ladder. Checking the bundle's own local-currency tables confirms it: Jacksonville prices at 0.78 times the anchor at coordinator level and 0.78 times at vice-president level, and Hyderabad at 0.23 times at both ends. Because the compression is genuinely absent, no baseFactorTop or totalFactorTop is set on any location and nothing is interpolated by seniority.
- Base factor and total factor are identical in every market for the same reason. The bundle derived both from a single per-city cash calibration rather than from separate base and total evidence, so presenting them as diverging would manufacture a difference the sources do not support.
- Total compensation is rebuilt from base plus target bonus plus annualised equity. No employer benefit load, no notional pension value and no perquisite estimate is added anywhere, because employer cost is not pay and inflating a package by 8 to 15 percent of notional benefit value would make every band incomparable to a competing offer.
- All figures are calculated in United States dollars first and then translated at the single 26 August 2026 exchange-rate snapshot. They are not forecasts of future exchange rates, and a package priced in rupees, pounds or yen will move against the dollar figure shown here without anyone's pay changing.
- The hourly frontline population is excluded from the priced ladder entirely. Warehouse, retail and event pay is set against local minimum-wage and logistics markets that move in the opposite direction to corporate pay across these cities, and folding it into one interpolated factor would misstate both populations.
Variable Pay & Annual Cash Incentive
Fanatics confirms bonuses exist and publishes nothing about how they are funded, weighted or paid. Official benefits material references bonuses, many current postings name an annual bonus separately from base, observed offers show targets of roughly 13, 15 and 20 percent, and a live compensation-manager requisition covers bonus planning and calibration. Company, business-unit and individual weightings, the payout formula and the FY2024 to FY2026 attainment factors are all absent from the public record, so every target below is a research model.
| Band | Target | Mechanism | Recent payout |
|---|---|---|---|
P1 Coordinator / associate / junior specialist | 0-8% of base, modelled at 4% | Annual bonus where the role is bonus-eligible at all. Sales and operations roles in this band may instead run commission or spot incentives, which the annual figure would not capture. | Not publicly disclosed |
IC2 Engineer I / analyst / specialist | 8-12% of base, modelled at 10% | Annual bonus stated separately from base in postings. The lowest observed offer target anywhere in the record is 13 percent, which sits above this modelled band and suggests the model may be conservative for technical roles. | Not publicly disclosed |
IC3 Engineer II / senior analyst / PM II | 10-15% of base, modelled at 12% | Annual bonus. Observed offer targets of 13 and 15 percent both fall inside this range, making it the best-evidenced target band on the ladder. | Not publicly disclosed |
IC4 Senior engineer / SWE III / senior PM | 12-20% of base, modelled at 16% | Annual bonus. The Levels.fyi Senior Software Engineer decomposition shows $18,000 of bonus on $185,000 of base, a realised 9.7 percent, which is well under the modelled target and illustrates why target and realised must be kept apart. | Not publicly disclosed |
IC5 Staff / principal / lead | 15-20% of base, modelled at 18% | Annual bonus. One observed offer at this seniority reported a 20 percent target, at the top of the modelled range. | Not publicly disclosed |
IC6 Senior staff / distinguished | 20-25% of base, modelled at 22% | Annual bonus. The observed Senior Staff decomposition of $45,600 on $249,200 of base is a realised 18.3 percent, the closest match between model and observation on the technical ladder. | Not publicly disclosed |
M1 Manager / senior manager | 15-25% of base, modelled at 20% | Annual bonus, with operations and commercial managers potentially carrying a commission or store-and-facility performance element that is not publicly described. | Not publicly disclosed |
M2 Director / senior director | 20-35% of base, modelled at 25% | Annual bonus. Senior-director postings disclose base ranges of $195,500 to $307,000 but state the bonus only as a separate eligibility, never as a percentage. | Not publicly disclosed |
M3 Vice president / senior vice president | 30-60% of base, modelled at 45% | Annual bonus, and the first band where the equity award rather than the cash incentive is the dominant variable term. | Not publicly disclosed |
E1 EVP / C-suite / business-unit CEO | 50-150% of base, modelled at 100% | Modelled executive annual incentive. No Fanatics executive incentive plan, metric set, weighting or payout has ever been published. | Not publicly disclosed |
Frontline Hourly warehouse, retail, event and support (not priced on this page) | 0-5% of base, modelled at 4% | Where any variable pay exists it is likely a spot, attendance or seasonal incentive rather than an annual bonus. One Tampa operations employee reported bonuses capped near 5 percent and annual raises near 3.5 percent, a single anonymous answer that should not be extrapolated. | Not publicly disclosed |
Executive incentive targets — percent of salary
Employee payout timing and history
No company-wide payout factor, funding percentage or attainment history for FY2024, FY2025 or FY2026 was found anywhere in the public record, and no company-wide hike, freeze, cut or bonus announcement was published either. Target bonus is visible in a handful of individual offers; realised bonus is visible only in employee-submitted decompositions, and those show realised running well below modelled target at the senior individual-contributor bands. Benchmark target against target and realised against realised, never one against the other.
Sales and special incentives
Fanatics runs commercial, partnership and sportsbook sales populations across three businesses, and postings for those roles frequently reference incentives, but no commission plan, accelerator, quota mechanic, draw arrangement or cap is published. Betting & Gaming postings are the ones that most consistently pair an annual bonus with an equity award, which suggests a different variable-pay architecture in that business, though no plan document confirms it.
Equity — RSUs, PSUs, Options & ESPP
Equity is the largest analytical gap in the Fanatics record and the largest risk in a Fanatics offer. Official benefits language grants it only where eligible, postings add it without valuing it, and offer data describes four-year vesting with a one-year cliff. The plan name, board approval date, authorised pool, utilisation, grant-price formula, refresh cadence, liquidity conditions and every executive grant are not publicly disclosed, and no 409A fair value or tender price has ever been published.
- There is no pool disclosure to report. Authorised shares, shares allotted, utilisation, remaining reserve, burn rate, dilution, trust structure, exercise history and current 409A or common-share fair value are all not publicly disclosed, and no Indian, United Kingdom or United States regulatory filing carries them because Fanatics is private in every jurisdiction.
- The only price marks in the record are private-market platform indications of roughly $41.60, $43.87 and $56.75 per share or unit in August 2026. The gap between the low and high screen is about 36 percent, and none of the three is a Fanatics-issued fair value, a tender price or an executable quote.
- Valuation direction has moved against holders. The last two disclosed marks are a $31 billion December 2022 financing and a reported $25 billion September 2024 tender discussion, so anyone whose grant was priced against the 2022 round was roughly 19 percent under water on the most recent reported liquidity event, before any illiquidity or transfer-restriction discount.
- Any annualised equity figure on this page is paper value at a stated valuation, not cash and not a promise of cash. Realised value depends on the award terms, the company valuation policy at grant, dilution from subsequent financings, transfer and repurchase restrictions and whether a liquidity event ever occurs, and no public IPO timetable exists to reprice against.
Valuation and price marks in place of a pool disclosure
Vesting — common reported employee schedule
This schedule is an employee-reported pattern reconstructed from offer submissions, not a published plan document. Vesting is only half of the question at a private company: shares that have vested may still be untransferable, subject to a company right of first refusal or repurchase, and worth nothing in cash until a tender or listing occurs. Ask for the award agreement, the share count, the valuation used to set the grant, the transfer and repurchase rules and the change-in-control definition in writing before assigning any dollar value to a Fanatics offer.
Eligibility by hierarchy level
- Official language is that equity is available where eligible, which is a narrower statement than a broad-based grant and implies a threshold Fanatics has never published.
- Evidence supports selective grants beginning around the IC2 and IC3 engineer bands and broader eligibility at staff, director, vice-president and executive levels. No band threshold, no minimum grant and no eligibility rule is disclosed anywhere.
- Hourly frontline, warehouse, retail and event roles show no routine equity in any source. Exception or recognition awards may exist but none is disclosed.
- Fanatics Betting & Gaming postings add equity to the annual bonus more consistently than Commerce or Collectibles postings do, which suggests business-level variation in eligibility rather than a single group policy.
- Nothing in the record describes refresh or evergreen grants, promotion grants, retention grants, performance-vesting awards or an option-exercise window after termination. Each of those is a material term that a candidate would have to negotiate blind.
Indicative annual grant value by band — New York
| Band | Annual value (USD) | Median |
|---|---|---|
| IC2 | $4K – $6K | $5K |
| IC3 | $8K – $13K | $10K |
| IC4 | $9K – $15K | $12K |
| IC5 | $23K – $38K | $30K |
| IC6 | $38K – $64K | $51K |
| M1 | $23K – $38K | $30K |
| M2 | $29K – $48K | $38K |
| M3 | $113K – $188K | $150K |
| E1 | $3.26M – $5.44M | $4.35M |
Annualized planning value (±25%), not the face value of every new-hire grant. Highlighted rows are disclosed grant-date stock awards.
Named executive target equity
| Executive | Target | Units / structure |
|---|---|---|
Michael Rubin Founder, chairman and chief executive officer | Not publicly disclosed | Founder ownership and annual compensation are different concepts. No grant, no instrument, no vesting term and no holding requirement has been published, and an ownership stake multiplied by a secondary-market screen would be unrealised paper value, not pay. |
Glenn H. Schiffman Director, executive vice president and chief financial officer | Not publicly disclosed | No equity grant, performance condition or change-in-control treatment is disclosed for the group chief financial officer. |
Business-unit chief executives Fanatics Commerce, Collectibles and Betting & Gaming | Not publicly disclosed | Whether divisional leaders hold group-level equity, business-unit tracking equity or a mix is not disclosed. Fanatics Collectibles and Fanatics Betting & Gaming have both raised capital at business level, which makes the question material and the silence conspicuous. |
Executive Compensation
Fanatics, Inc. is privately held and files no United States proxy statement, so no Summary Compensation Table exists. Chief executive salary, bonus, equity, perquisites and total compensation, every other officer package, the board fee schedule, the median employee and the CEO-to-median pay ratio are all not publicly disclosed. This page leaves the executive pay panel empty rather than estimating any of them.
These four rows exist to show the disclosure format a listing would eventually produce for Fanatics, not to estimate anything. The comparability limits are severe. All four figures are grant-date accounting values under Securities and Exchange Commission rules rather than realised pay, a single year's equity award can dominate a chief executive total, fiscal years differ, and the median-employee denominators range from $48,695 at NIKE to $180,276 at eBay purely because of workforce mix. That spread is the point: Fanatics combines a NIKE-shaped hourly retail and fulfilment population with an eBay-shaped technology population and a DraftKings-shaped sportsbook population, so no single peer ratio would transfer even if a Fanatics number existed. A peer chart with an invented Fanatics bar would be worse than an explicit absence, so there is none.
Named Executive Officers & Board
Fanatics' public leadership record is a roster of names and scopes with no compensation attached to any of them. The official leadership page identifies a group chief executive, a group chief financial officer who is also a director, four functional chiefs, three business-unit chief executives and one regional business chief executive.
Publicly identified senior leadership comprises Michael Rubin as founder, chairman and chief executive officer of the group; Glenn H. Schiffman as director, executive vice president and chief financial officer; Tucker Kain as chief strategy and growth officer; Toretha McGuire as chief people officer with a group and Commerce scope; Gregg Winiarski as chief legal officer; Andrew Low Ah Kee as chief executive of Fanatics Commerce; Matt King as chief executive of Fanatics Betting & Gaming; Mike Mahan as chief executive of Fanatics Collectibles; and Kelly Guo as chief executive of Fanatics China. Compensation for every one of these roles is not publicly disclosed. The chief people officer role is the one most directly relevant here, because it owns the pay architecture this report has had to reconstruct from the outside, and the existence of a Senior Manager, Compensation requisition covering annual planning, merit increases, bonus planning and calibration confirms that architecture exists internally in a form no public source describes.
Board compensation framework
| Element | Amount | Notes |
|---|---|---|
| Board composition | Not fully published | Michael Rubin is identified as chairman and Glenn H. Schiffman as a director on the official leadership page. The full roster, the committee structure, the independent directors and any investor-appointed seats are not published. |
| Annual cash retainer | Not publicly disclosed | No director fee schedule exists for a private corporation that files no annual director compensation table. |
| Meeting and committee fees | Not publicly disclosed | No committee chair retainer, attendance fee, lead-director premium or audit-committee premium is in the public record. |
| Director equity awards | Not publicly disclosed | No annual director grant, vesting term, holding requirement or deferral election is published, and no director owns disclosable public stock because none exists. |
| Compensation committee | Not publicly disclosed | Whether a compensation committee exists, who sits on it, whether it retains an independent consultant and what peer group it uses are all unknown. |
| Say-on-pay and compensation committee report | Not applicable | Both are public-registrant obligations. Fanatics holds no shareholder advisory vote on executive pay and publishes no compensation discussion and analysis. |
The absence here is structural rather than evasive: no United States private corporation is required to publish director compensation, and Fanatics publishes none. It matters for pay analysis because the compensation committee is normally the body whose disclosed peer group, consultant and pay-mix philosophy reveal how an employer thinks about pay at every level, not just at the top. With that layer invisible, the only Fanatics-authored evidence about its own pay philosophy is what appears in job postings and on the culture and talent page.
Regional heads and other officers
Fanatics publishes no compensation figure for any officer, no perquisite schedule, no severance or change-in-control arrangement, no deferred compensation record, no pension or retirement benefit for an executive and no employment agreement summary, because a private corporation files no proxy statement and no equivalent of a named-executive table. There is likewise no geographic executive compensation table, so the pay of any country or regional leader, including the chief executive of Fanatics China, is unavailable. The three business-unit chief executives are the most consequential gap: Fanatics Collectibles and Fanatics Betting & Gaming have each raised capital at business level, which makes the question of whether divisional leaders hold group equity or business-level equity a material one that no source answers.
Insider Trades — SEC Forms 3/4/5
There is no insider-trade ledger. Fanatics has no public ticker, so Securities and Exchange Commission Forms 3, 4 and 5 do not apply; it is not listed in India, so Bombay Stock Exchange, National Stock Exchange, Securities and Exchange Board of India insider-trading and substantial-acquisition disclosures do not apply; and it is not listed in Australia, so ASX substantial-holder and director notices do not apply. Individual executive option exercises and promoter or group share transactions are not publicly disclosed. What follows is the corporate liquidity and valuation record, which is the closest public analogue.
Reading guide
Benefits & Perks
Benefits are better evidenced than pay, because Fanatics publishes a culture and talent page listing what United States employees get even though it publishes no salary band. Everywhere else the evidence thins out fast: India rests on employee reports plus statutory baselines, the United Kingdom and Australia rest on government rules that would apply to any employer, and Germany, France, Japan, Canada, Singapore and the United Arab Emirates have no Fanatics-specific disclosure at all. Eligibility varies by legal employer, business and worker category, which matters more here than at most employers because roughly 7,000 of the workforce are part-time, seasonal, contractor or temporary.
United States
- Health — Medical, dental, vision, life and disability cover. Listed on the official culture and talent page as company-wide themes. Exact providers, premiums, deductibles, eligibility waiting periods and part-time thresholds are not published. [official]
- Health — Fertility coverage, adoption assistance and gender-affirmation care. All three are named explicitly on the official benefits page, which puts Fanatics ahead of most retail and logistics employers on disclosure even though no coverage limit is stated. [official]
- Retirement — 401(k) with matching described as robust. The match formula, vesting schedule, eligibility date and true-up policy are not officially published. Employee reports cluster around a 3 to 4 percent match but conflict with each other, so the formula should not be treated as verified. [official]
- Leave — Unlimited discretionary time off, maternity and paternity leave, compassionate leave. Unlimited discretionary time off appears in both official material and employee reports. Parental leave duration, pay percentage and service qualification are not published, and unlimited policies typically do not extend to hourly frontline populations. [official]
- Wellbeing — Employee assistance programme, mental health services and Wellhub. Named on the official benefits page. Wellhub is a fitness and wellbeing network benefit; the Fanatics tier, employee contribution and eligibility are not stated. [official]
- Education and family — Tuition reimbursement, student-loan assistance and childcare support. Three benefits that are unusual as a set and all named officially. No annual cap, repayment condition or eligibility rule is published for any of them. [official]
- Work pattern and discount — Hybrid working, summer Fridays and a 40 percent merchandise discount. Employee-reported rather than official. The merchandise discount is the benefit most consistently mentioned across reports and is the one most likely to extend to hourly and seasonal populations. [reported]
- Pay transparency — Geographic pay zones stated in live postings. Current United States postings commonly disclose a state-specific or zone-specific base range and list annual bonus and equity separately. Betting & Gaming postings additionally reference remote and home-office support. [official]
Global programs
- Development — Immersive onboarding, learning opportunities and mentoring. Named on the official culture and talent page. No budget, entitlement or eligibility rule is attached to any of them. [official]
- Development — Leadership coaching and career mobility. Officially referenced. Internal-mobility rules, minimum tenure before transfer and cross-business movement between Commerce, Collectibles and Betting & Gaming are not described. [official]
- Discount — Employee merchandise discount. Officially referenced and reported by employees at 40 percent in the United States. The rate outside the United States is not published. [official]
- Wellbeing — Wellness and employee-assistance programmes. Officially referenced as a global theme, with the detailed provider list published only for the United States. [official]
- Eligibility — Coverage varies by legal employer, business and worker category. Stated explicitly by Fanatics itself. With roughly 7,000 of the workforce part-time, seasonal, contractor or temporary, and with multiple acquired legal entities still in the group, this caveat does more work at Fanatics than the same sentence would at a single-entity employer. [official]
Benefit fields not publicly quantified
Exact providers, premiums, deductibles, the 401(k) match formula, eligibility waiting periods, vesting schedules, parental leave duration and pay percentage, private medical arrangements outside the United States, employer pension rates in the United Kingdom and Europe, Indian sum insured and National Pension System contributions, and every part-time or seasonal eligibility threshold are not publicly disclosed. Statutory baselines quoted for the United Kingdom, Australia, India, Germany, France, Japan, Canada, Singapore and the United Arab Emirates are the law applying to any employer in those markets and are not evidence of a Fanatics enhancement.
Performance Review & Pay Progression
Fanatics discloses that a compensation cycle exists and nothing about how it runs. A current Senior Manager, Compensation requisition owns annual compensation planning, merit increases, bonus planning and calibration, which is the only public confirmation of a formal process anywhere in the record.
Not publicly disclosed
Modeled promotion planning timeline
| Band | Years to next scope | Promotion hike | Status |
|---|---|---|---|
| P1 | 1-3 years to IC2 or a first management step, at a modelled 8 to 18 percent increase | Not disclosed | Modeled planning interval |
| IC2 | 2-3 years to IC3 at a modelled 8 to 15 percent increase | Not disclosed | Modeled planning interval |
| IC3 | 2-4 years to IC4 at a modelled 10 to 18 percent increase | Not disclosed | Modeled planning interval |
| IC4 | 3-5 years to IC5 at a modelled 12 to 22 percent increase | Not disclosed | Modeled planning interval |
| IC5 | 3-6 years to IC6 at a modelled 10 to 20 percent increase; the scarcest transition on the ladder | Not disclosed | Modeled planning interval |
| IC6 | Terminal individual-contributor band in the reconstructed ladder; no published progression beyond it | Not disclosed | Modeled planning interval |
| M1 | 3-5 years to M2 at a modelled 12 to 25 percent increase | Not disclosed | Modeled planning interval |
| M2 | 3-6 years to M3 at a modelled 15 to 30 percent increase | Not disclosed | Modeled planning interval |
| M3 | No published progression to the executive layer; movement to E1 is appointment rather than promotion | Not disclosed | Modeled planning interval |
| E1 | Not applicable | Not disclosed | Modeled planning interval |
The only progression evidence is a market timing framework, not Fanatics policy: roughly one to three years from the professional entry band to a first engineer or management step, two to three years from IC2 to IC3, two to four years to IC4, three to five years to IC5, three to six years to IC6, three to five years from manager to director and three to six years from director to vice president. Movement from vice president into the executive layer is appointment rather than promotion, and the frontline-to-professional transition is explicitly not automatic. Every one of these should be replaced with internal data before operational use.
Pay progression evidence
Modelled promotion increases run 5 to 15 percent from frontline into a professional role, 8 to 18 percent from professional into an engineer or first management step, 8 to 15 percent from IC2 to IC3, 10 to 18 percent to IC4, 12 to 22 percent to IC5, 10 to 20 percent to IC6, 12 to 25 percent from manager to director and 15 to 30 percent from director to vice president. The one Fanatics-specific data point that exists cuts against the top of those ranges: a single Tampa operations employee reported annual raises capped near 3.5 percent and bonuses near 5 percent. That is one anonymous answer from one business in one market and should not be extrapolated to corporate or technical bands, but it is the only realised progression figure in the entire public record.
H-1B / LCA Visa Footprint — United States
Certified labour condition applications are the only government-verified wage evidence about Fanatics, and they are useful as a United States base-pay floor rather than as a package. Entity naming is the main complication: Fanatics files under multiple legal employers, and the databases aggregate them differently, which is why the same fiscal year can produce different medians on different sites.
Dataset summary
| Dataset | Result | Interpretation |
|---|---|---|
| H1BData.info, Fanatics Retail Group Fulfillment LLC, FY2025 | 37 salary records at a $174,474 median | Distribution reported as 22 percent above $200,000, 51 percent between $150,000 and $200,000 and 27 percent between $100,000 and $150,000. Exact quartiles were not exposed on the retrieved page. |
| MyVisaJobs aggregated sponsor profile, 2025 | 43 labour condition applications and four permanent-labour certifications at a $169,748 average | Aggregates multiple Fanatics legal entities, so it is not directly comparable to the single-entity sample above. |
| MyVisaJobs aggregated sponsor profile, 2024 and 2023 | $173,251 average in 2024 and $145,021 in 2023 | Volume was not consistently reported for either year, and period and entity definitions differ between years. |
| H1BGrader and MyVisaJobs, FY2026 through 18 August 2026 | 29 labour condition applications, 10 approved I-129 petitions, zero denials, and a median reported as either $165,000 or $150,037 | The two profiles disagree on the median. Both are recorded here rather than picking one, because the discrepancy is itself the finding. |
| Employer-wide percentile approximation | P25 approximately $148,000, median $174,474, P75 approximately $204,000 | The median is observed; the quartiles are interpolated within the published salary buckets and are planning-only figures. |
City-level H-1B wage history
| City | P25 | Median | P75 | Records |
|---|---|---|---|---|
Employer-wide FY2025 sample Fanatics Retail Group Fulfillment LLC across all worksites; quartiles interpolated from published buckets. | $148K | $174,474 | $204K | 37 |
San Mateo, CA Filed under the Fanatics Inc entity rather than the fulfilment entity, which is why the median sits below the employer-wide figure despite the highest city factor in the model. | $145K | $144,726 | $145K | 2 |
Jacksonville, FL Staff Software Engineer filings. The same city also produced a $104,541 Staff Product Manager and a $49,566 staff accountant, which shows how wide the occupational mix is at one worksite. | $174K | $174,173 | $174K | 2 |
Boulder, CO A single senior cloud engineer record, which is the only certified wage evidence supporting Boulder's presence in the footprint table. | $142K | $141,960 | $142K | 1 |
New York, NY Two Fanatics Loyalty senior product manager records at $225,000 each, filed in December 2025 and therefore likely on FY2026 determination timing. These are the highest disclosed wages in the file. | $225K | $225,000 | $225K | 2 |
All-years aggregates. P25/P75 are rounded reconstruction values marked modeled; medians and record counts are the stronger fields.
Selected title / worksite records
| Title | Worksite | Proffered wage | Notes |
|---|---|---|---|
| Senior data engineering manager | San Mateo, CA | $250,000 | The highest single certified wage in the record and the clearest evidence that the manager ladder in the Bay Area runs well above the modelled New York M1 band. |
| Senior product manager, Fanatics Loyalty | New York, NY | $225,000 | Two records at the same wage, filed December 2025. They sit above the modelled M1 base and near the modelled M2 median. |
| Staff Software Engineer | Jacksonville, FL | $174,173 | Median of two records. Against the modelled IC5 New York base of $210,000 and Jacksonville's 0.78 factor, the model would predict about $164,000, so the certified wage sits slightly above the model. |
| Senior data engineer | San Mateo, CA | $172,900 | Consistent with a senior individual-contributor band rather than a staff one, and below what the 1.10 San Mateo factor would predict for IC4. |
| Data Scientist II | San Mateo, CA | $116,646 | The lowest technical record in the file and a useful floor for the IC3 band, sitting below the modelled New York IC3 base of $152,000 despite the higher city factor. |
| Staff Product Manager | Jacksonville, FL | $104,541 | A staff title at less than half the wage of the staff engineer in the same city, which shows that the staff label does not carry a consistent pay level across job families. |
| Staff Accountant | Jacksonville, FL | $49,566 | Included deliberately. It is a reminder that a sponsor-level median is a function of occupational mix, and that Fanatics sponsors well outside the technology population. |
Reading the data correctly
- H-1B wages are base salary only. They exclude equity, annual bonus and benefits entirely, so a certified wage is a floor for the cash half of a package rather than a total-compensation figure.
- Entity naming drives most of the apparent inconsistency in this section. Fanatics files under several legal employers and each database aggregates them differently, which is why one FY2025 median is $174,474 and another FY2026 median is reported as either $165,000 or $150,037.
- A certified labour condition application is an employer attestation about a proffered wage, not proof that the role was filled, that the person started or that the wage was ultimately paid. Amendments and withdrawals also remain in the data.
- Sample sizes at city level are tiny: two records in San Mateo, two in Jacksonville, one in Boulder and two in New York. Treating any of those medians as a city benchmark would be a mistake.
- Common reported occupations are software developers, information-systems managers, information-technology project managers, data scientists, quality-assurance and test roles and business-intelligence analysts. The visa record therefore describes a narrow technical slice of a 22,000-person workforce and says nothing about the frontline population.
Key Nuances & Insights
Salary evidence at Fanatics is actually reasonable: job postings disclose base ranges, the visa record certifies wages and employee databases decompose packages. The unknowable part is equity, where grant instrument, strike or grant price, dilution, vesting exceptions and liquidity determine realised value and none of them is public. A candidate who negotiates hard on base and accepts an unexamined grant has optimised the half of the package that was already visible.
The three disclosed marks run $18 billion in August 2021, $31 billion in December 2022 and a reported $25 billion at the September 2024 tender discussion. Anyone whose grant was priced against the 2022 round was roughly 19 percent under water on the last reported liquidity event before any illiquidity discount, and the three August 2026 private-market screens disagree with each other by about 36 percent, so there is no single number to mark against.
Commerce, Collectibles and Betting & Gaming compete for entirely different people. Betting & Gaming postings pair an annual bonus with an equity award far more consistently than the other two, which points to a different variable-pay architecture in that business. A warehouse supervisor, a trading-card product leader and a sportsbook engineer should never be forced onto one salary curve.
Roughly 7,000 of the 22,000-plus workforce are part-time, seasonal, contractor or temporary, and the hourly warehouse, retail and event population is priced against local minimum-wage and logistics markets that move differently from corporate pay across the same cities. The bundle's own New York frontline model is $34,000 to $50,000 of base with a 0 to 5 percent variable target and no routine equity. Folding that into the corporate curve would misstate both populations.
Most multinational bundles in this corpus show offshore markets far below the anchor at junior bands and much closer at senior ones. Fanatics does not: Jacksonville is 0.78 times the anchor at coordinator level and 0.78 times at vice-president level, and Hyderabad is 0.23 times at both ends. That is a property of how the source calibrated cities rather than a discovered fact about Fanatics pay, so treat the senior-level offshore cells as the least reliable in the table.
Current senior-director requisitions disclose base ranges of $195,500 to $307,000 depending on function and location, which is official, geography-specific and better evidence than any third-party estimate on this page. They also state base only, listing annual bonus and equity as separate eligibilities without values, so they anchor one component and leave the other two open.
The modelled Senior individual-contributor target is 16 percent, but the observed Levels.fyi decomposition shows $18,000 of bonus on $185,000 of base, a realised 9.7 percent. At Senior Staff the observed $45,600 on $249,200 is 18.3 percent against a 22 percent target. No company-wide payout factor for FY2024 to FY2026 exists anywhere, so benchmark target against target and realised against realised.
Levels.fyi reports a Hyderabad Senior Software Engineer total of 6.262 million rupees above a Staff point of about 4.57 million. That is small samples, different grant timing and role or entity mix, not a reversed hierarchy. It is the clearest single illustration of why employee-submitted data at this sample size is directional evidence rather than a benchmark.
Levels.fyi reports a $400,000 median for Software Engineering Manager, far above the modelled M1 band of $165,000 to $330,000 and inconsistent with both the Glassdoor director range and the certified visa record for information-systems managers. It is a handful of submissions from people who chose to report. Quoting it in a negotiation without checking the sample will not survive contact with a recruiter.
Because Fanatics International Ltd exceeds the United Kingdom reporting threshold, Fanatics must publish a gender pay gap. It widened from a 23.3 percent median hourly gap in 2023-24 to 24.1 percent in 2024-25 with a 31.1 percent mean gap, a 60.7 percent median bonus gap and women falling from 24.0 percent to 21.0 percent of the upper quartile. The bonus gap moving three times as fast as the hourly gap points at bonus eligibility and seniority distribution rather than at rates for the same job.
Businesses and workforces arrived through transactions including Lids, Topps and Mitchell & Ness alongside European operations, and no public source describes how legacy grades, bonus plans or equity awards were harmonised. Check which legal entity is on the offer letter, because the plan documents, benefit eligibility and equity treatment may all differ from the group-level picture.
The state database records 218 affected employees on a Jacksonville schedule running April to August 2024 after a January 2024 notice, and 286 on a Riverview and Tampa-area schedule running March to July 2026 after a November 2025 notice. Trade press separately reported just over 100 corporate roles eliminated in February 2024, under 1 percent of the workforce. Both official key offices in Florida therefore appear in the reduction record inside two years.
No public matched-cohort data proves that joining Fanatics laterally pays more than being promoted into the same level internally. Given geography-sensitive posting ranges and competitive hiring across three businesses, a lateral premium is plausible, but it remains an inference and should be tested against a real competing offer rather than assumed.
A current Senior Manager, Compensation requisition owns annual compensation planning, merit increases, bonus planning and calibration. That is proof of an internal architecture with ranges, a merit budget and a calibration process, all of which exist and none of which is published. The reconstruction on this page is an outside view of a structure Fanatics itself operates in detail.
Research control
Fanatics sits between three peer sets and matches none of them cleanly. Against digital-marketplace peers like eBay its technology pay is broadly competitive at the senior individual-contributor level, with an observed $232,200 Senior Software Engineer total and a $335,800 Senior Staff point, but it cannot offer listed-company liquidity or an employee stock purchase plan. Against sports-betting peers like DraftKings its Betting & Gaming business competes for the same engineers and, uniquely inside Fanatics, routinely pairs equity with the annual bonus in postings. Against consumer and sports-brand peers like NIKE its workforce shape is closest of all, dominated by hourly retail and fulfilment employees, which is why NIKE's $48,695 median employee is the most instructive peer number on this page even though it says nothing about a Fanatics engineer. The honest summary is that Fanatics pays market cash for United States technology talent, offers illiquid equity at a valuation that has fallen between its last two disclosed marks, and publishes less about pay than any listed peer in any of the three sets.
Evidence classification
| Label | Meaning | Examples and permitted use |
|---|---|---|
| Verified | An official Fanatics page or job posting, a government record such as a WARN filing, a gender pay gap disclosure or a certified labour condition application, or a primary SEC filing by a named public peer. | Quote directly with its date and scope. This is the only class that can be attributed to Fanatics or to a regulator. |
| Reported | Employee-submitted salary and offer records from Levels.fyi, Glassdoor, Indeed and Comparably, and anonymous employee answers. | Use as directional evidence with the sample size stated. Selection bias, stale grants and role or entity ambiguity are all present, and the Indian Staff-versus-Senior inversion shows what that looks like in practice. |
| Modeled | A New York anchor multiplied by a city calibration factor and an exchange rate, inside a stated planning envelope, with bonus taken from a modelled target and equity from a modelled grant range. | Use for planning and comparison only. Never present a modelled cell as a Fanatics salary band, because Fanatics publishes no bands at all. |
| Not publicly disclosed | The field genuinely does not exist in the public record, usually because Fanatics is private and files nothing that would carry it. | Shown as an explicit absence. An absence is a finding, and interpolating over it would convert a known unknown into a false certainty. |
Explicit “Not publicly disclosed” index
Known gaps and diligence before relying on a cell
- 1The hourly frontline population is excluded from the priced bands, in line with the one-ladder rule. Warehouse, fulfilment, retail, event and customer-support pay behaves differently across these cities from corporate pay, so it is carried in the career-levels, variable-pay and key-metrics narrative instead of being interpolated by a factor that does not fit it.
- 2No baseFactorTop or totalFactorTop is set on any location, because the source's own local-currency tables show a genuinely flat factor at every band in every city. Where the underlying calibration is flat, inventing a compression curve would be fabrication rather than refinement.
- 3Base factor and total factor are identical in every market for the same reason: the source derived both from one per-city cash calibration and did not evidence a separate total-compensation factor anywhere.
- 4Total compensation is rebuilt as base plus target bonus plus annualised equity so that the components reconcile. No employer benefit load, notional pension value or perquisite estimate is added, and at the P1 band the rebuild strips an implied equity residual the source itself says is not routinely granted at that level.
- 5The executive band E1 is retained in the ladder but marked chartExcluded and given a seniority of 11 while the employee bands stop at 9, so the executive figure cannot distort anything that describes real employee levels. Every number in that row is a market model; no Fanatics executive pay figure exists.
- 6Two source conflicts are recorded rather than resolved. The FY2026 sponsor median is reported as either $165,000 or $150,037 on different visa profiles, and the Hyderabad Levels.fyi Senior figure of 6.262 million rupees exceeds the Staff figure of about 4.57 million. Both are shown as they stand.
- 7Fanatics' expected 2026 revenue of about $13 billion is a company projection published on its own site, not an audited filing, and it carries no geographic split, so no regional revenue panel appears on this page.
- 8Headcount is a single official figure with no time series. There is no public quarterly headcount schedule, no attrition rate and no city-level breakdown, so the headcount trend shown here is three anchored points rather than a series.
- 9Bangalore, Mannheim, Auckland, Singapore and Dubai carry no confirmed Fanatics office. They are retained as explicitly labelled model-only or market-model-only selectors and should not be read as evidence of a Fanatics presence.
- 10Founding year, legal fiscal year end and a formally stated corporate headquarters were not established by the source bundle, so none is asserted in the metadata line.
FX rates used — 1 USD equals, snapshot 2026-08-26
Single-date conversion layer for comparability; it ignores payroll-date FX, tax, purchasing power, benefits valuation and hedging. Compensation intelligence, not legal, tax, investment, immigration or employment advice.
Source register — 25 sources
| S01 | Fanatics Inc. corporate site, Officially Licensed Everything · Fanatics, Inc. · 2026-08-27. Company scale: 22,000-plus employees, 900-plus sports properties and 2,000-plus retail locations. |
| S02 | Fanatics Inc. Leadership page · Fanatics, Inc. · 2026-08-27. Group, business-unit and regional leadership roster used for the executive layer table. |
| S03 | Fanatics Inc. Culture & Talent page · Fanatics, Inc. · 2026-08-27. Employee mix, bonus references, equity where eligible, 401(k), wellbeing and leave benefits. |
| S04 | Fanatics Inc. Global Footprint page · Fanatics, Inc. · 2026-08-27. More than 80 offices and facilities, and the seven named key offices. |
| S05 | Fanatics Inc. Michael Rubin profile page · Fanatics, Inc. · 2026-08-27. 22,000-plus employees, 80 offices and approximately $13 billion expected 2026 revenue. |
| S06 | Fanatics careers and current job postings · Fanatics, Inc. · 2026-08-27. Disclosed base ranges, geographic pay zones, annual bonus and equity eligibility, including the $195,500 to $307,000 senior-director range. |
| S07 | Levels.fyi Fanatics salaries and role pages · Levels.fyi · 2026-08-26. United States, India and United Kingdom level anchors, package decompositions, the $163,699 overall median and the four-year vesting pattern. |
| S08 | Glassdoor Fanatics salary pages for the United States, India, United Kingdom and Australia · Glassdoor · 2026-08-26. Director and vice-president ranges, frontline ranges and the three sparse Australian submissions. |
| S09 | Indeed and Comparably Fanatics salary and employee-answer pages · Indeed, Comparably · 2026-08-26. The $265,500 vice-president average and the single Tampa operations answer on raises and bonuses. |
| S10 | Fanatics Senior Manager, Compensation job description · Fanatics, Inc. · 2026-08-27. Confirmation that annual compensation planning, merit increases, bonus planning and calibration exist as a formal internal process. |
| S11 | H1BData.info, Fanatics Retail Group Fulfillment LLC, FY2025 · H1BData.info, from Department of Labor disclosure data · 2026-08-26. 37 salary records, the $174,474 median and the salary-bucket distribution behind the quartile approximation. |
| S12 | MyVisaJobs Fanatics visa sponsor profile · MyVisaJobs · 2026-08-18. Annual labour condition application counts, 2023 to 2025 salary averages, job-family mix and I-129 approvals. |
| S13 | H1BGrader Fanatics sponsor profiles · H1BGrader · 2026-08-18. FY2025 and FY2026 salary summaries, and the FY2026 median conflict recorded in the caveats. |
| S14 | Gender Pay Gap Service filing for Fanatics International Ltd · UK Government · 2025-04-05. 2023-24 and 2024-25 median and mean hourly gaps, median bonus gap and pay-quartile distribution. |
| S15 | FloridaCommerce WARN database · State of Florida · 2026-08-27. The 2024 Jacksonville schedule of 218 affected employees and the 2025-26 Riverview and Tampa-area schedule of 286. |
| S16 | Fanatics Explores Tender at Discounted $25 Billion Valuation · Bloomberg Law · 2024-09-25. The reported employee-share tender discussion of roughly $75 million to $100 million at a $25 billion valuation. |
| S17 | Nasdaq Private Market, Forge and Hiive Fanatics pages · Nasdaq Private Market, Forge Global, Hiive · 2026-08-26. The three conflicting private-market price indications of roughly $41.60, $43.87 and $56.75. |
| S18 | NIKE 2026 proxy statement · U.S. Securities and Exchange Commission · 2026-07-15. Elliott Hill FY2026 total compensation of $36,340,876, a $48,695 median employee and a 746:1 ratio. |
| S19 | DraftKings 2026 proxy statement · U.S. Securities and Exchange Commission · 2026-04-01. Jason Robins 2025 total compensation of $22,621,941, a $79,256 median employee and a 285:1 ratio. |
| S20 | eBay 2026 proxy statement · U.S. Securities and Exchange Commission · 2026-04-01. Jamie Iannone 2025 total compensation of $28,463,890, a $180,276 median employee and a 158:1 ratio. |
| S21 | Vivid Seats 2026 proxy statement · U.S. Securities and Exchange Commission · 2026-04-01. Lawrence Fey 2025 total compensation of $9,351,904 and the November 2025 chief executive appointment. |
| S22 | Superannuation guarantee rates and National Employment Standards · Australian Taxation Office and Fair Work Ombudsman · 2026-07-01. The 12 percent 2026-27 super guarantee, four weeks annual leave and parental leave settings. |
| S23 | Workplace pension auto-enrolment guidance · UK Government and The Pensions Regulator · 2026-08-27. The 3 percent minimum employer contribution on qualifying earnings and the statutory maternity pay baseline. |
| S24 | Provident fund and statutory benefit guidance · Employees' Provident Fund Organisation, India · 2026-08-27. Indian provident fund, gratuity and statutory leave baselines used in the India benefits region. |
| S25 | Foreign exchange mid-market rate snapshot · Reuters, Wise, XE, MTFX and Wall Street Journal FX pages · 2026-08-26. The single FX snapshot applied to every local-currency conversion on this page. |
Recent News & Workforce Trend
Fanatics publishes no quarterly headcount schedule, no attrition series and no pay announcements, so the timeline below is assembled from official company statements, two state WARN filings, a mandatory United Kingdom pay disclosure, private-market reporting and the certified visa record. It is the record of events that bear on pay rather than a corporate news feed.
This is three anchored points, not a series. Fanatics is private and publishes no audited employee schedule, no quarterly headcount and no attrition rate, and no public source provides a city-level or business-unit breakdown. The two Florida WARN schedules totalling 504 affected employees across 2024 and 2026 are the only quantified workforce reductions in the record, and both fall at official key offices.
A $325 million round. It is the earliest of the three disclosed valuation marks and the baseline against which the later decline is measured.
A $700 million round and the high-water mark. Employee grants priced against this valuation are the ones most exposed to the subsequent decline, and a financing price for preferred capital is not a price at which an employee could sell common stock.
The Florida WARN database records 218 affected employees on a phased schedule running April to August 2024 following this notice, at one of the seven official key offices.
Trade press reported the cut as under 1 percent of the workforce against a company-wide denominator of around 22,000. No compensation, severance or band-level detail was published.
Bloomberg Law reported Fanatics exploring an employee share tender of roughly $75 million to $100 million at a valuation about 19 percent below the December 2022 mark. Participation limits, final size and execution terms were not fully public, and no individual seller or share count was verified.
Fanatics International Ltd reported a 24.1 percent median hourly gap and a 31.1 percent mean gap for 2024-25, up from a 23.3 percent median in 2023-24, with a 60.7 percent median bonus gap and women falling from 24.0 percent to 21.0 percent of the upper pay quartile while making up 49.3 percent of the lower quartile.
The Florida WARN database records 286 affected employees on a phased schedule running March to July 2026 following this notice. With the 2024 Jacksonville schedule, both Florida key offices appear in the reduction record inside two years.
Fanatics Loyalty filings, likely on FY2026 determination timing, and the highest disclosed wages anywhere in the Fanatics record. They sit above the modelled New York manager base and near the modelled director median.
Aggregated sponsor profiles record 29 labour condition applications and 10 approved I-129 petitions with zero denials through 18 August 2026, against 43 applications in 2025. The two profiles disagree on the FY2026 median, reporting either $165,000 or $150,037.
Nasdaq Private Market, Forge and Hiive showed roughly $41.60, $43.87 and $56.75 per share or unit. None is a company-issued 409A fair value, a tender price or an executable quote, and the spread between them is wider than most annual equity refreshes.
Official company material across the corporate, global-footprint and chief-executive pages, covering more than 80 offices and facilities and roughly 15,000 full-time employees. The revenue figure is a company projection rather than an audited filing and carries no geographic split.
A current Senior Manager, Compensation requisition owns annual compensation planning, merit increases, bonus planning and calibration. It is the only public confirmation that a formal internal pay architecture exists, and it discloses none of its ranges, budgets or dates.