How PB Fintech Pays
A0–A9 career bands across ten Indian cities and the UAE arm, four ESOP schemes with a 150% share-price hurdle, incentive-heavy frontline pay, and FY25 executive totals dominated by option-exercise perquisites.
Band Hierarchy
PB Fintech publishes no band catalogue, title-to-grade dictionary or dual-track framework. A0–A9 is an evidence-labelled research ladder built from public PB Fintech role names, salary observations and the FY25 top-remuneration list; IC and management tracks converge at the top because disclosures are management-heavy.
Compensation by Band — Gurugram / Delhi NCR
Low / high annual estimates. City values apply a transparent location factor against the Gurugram baseline; they are negotiation ranges, not a PB Fintech salary policy.
| Band | Title | Base | Variable | Total CTC | ESOP |
|---|---|---|---|---|---|
| A0 | Trainee / Advisor 0–1 yrs | ₹2.4L – ₹3.6L | 10–35% | ₹2.7L – ₹4.8L | — |
| A1 | Senior Advisor / Floor Support 1–3 yrs | ₹3.0L – ₹5.0L | 10–30% | ₹3.4L – ₹6.5L | Selective |
| A2 | Team Lead 2–5 yrs | ₹5.5L – ₹12.0L | 8–20% | ₹6.2L – ₹14.0L | Selective |
| A3 | Assistant Manager 3–7 yrs | ₹10.0L – ₹20.0L | 8–15% | ₹11.0L – ₹24.0L | Selective |
| A4 | Manager / Senior Product Manager 6–10 yrs | ₹18.0L – ₹32.0L | 10–20% | ₹21.0L – ₹40.0L | Selective |
| A5 | Engineering Manager / Senior Manager 8–14 yrs | ₹25.0L – ₹45.0L | 12–25% | ₹31.0L – ₹62.0L | Selective |
| A6 | Associate Director / AVP 10–17 yrs | ₹32.0L – ₹60.0L | 15–30% | ₹42.0L – ₹85.0L | Selective |
| A7 | Director / Vice President 13–22 yrs | ₹40.0L – ₹75.0L | 20–40% | ₹55.0L – ₹1.3Cr | Selective |
| A8 | SVP / EVP / Business CEO 16–25+ yrs | ₹70.0L – ₹2.5Cr | 25–60% | ₹1.1Cr – ₹5.0Cr | Selective |
| A9 | Group CEO / Executive Director / Board 20+ yrs | ₹0 – ₹3.5Cr | Named | ₹60.6Cr – ₹641Cr | Selective |
Total Compensation Range by Band
Total CTC in Gurugram / Delhi NCR. The A9 board band is excluded because FY25 realized totals (up to ₹641.32Cr) are ESOP-exercise events that would make the employee-band scale unreadable.
Footprint & City Differentials
FY25 disclosures name ten Indian operating cities and a material UAE operation through PB Fintech FZ LLC and Policybazaar Middle East. PB Fintech publishes no city-level headcount or pay bands; the factors below are a transparent model against the Gurugram baseline.
Modelled City Factors vs Gurugram
| Location | Status | Factor | Pay posture |
|---|---|---|---|
| Gurugram / Delhi NCR | Headquarters | 1.00× | Corporate and operating centre; the salary baseline market. |
| Bengaluru | Domestic market | 1.08× | Named operating city in FY25 disclosures; modelled technology-talent premium. |
| Noida | Domestic market | 0.98× | Delhi NCR operating market; exact site-level headcount is not disclosed. |
| Mumbai | Domestic market | 1.05× | Named operating city; modelled financial-services premium. |
| Hyderabad | Domestic market | 0.97× | Named operating city; location differential is modelled. |
| Pune | Domestic market | 0.97× | Named operating city; location differential is modelled. |
| Chennai | Domestic market | 0.95× | Named operating city; location differential is modelled. |
| Kolkata | Domestic market | 0.88× | Named operating city; location differential is modelled. |
| Kochi | Domestic market | 0.90× | Named operating city; location differential is modelled. |
| Bhubaneswar | Domestic market | 0.84× | Named operating city; location differential is modelled. |
| Dubai | International arm | 1.00× (AED) | Verified UAE group operation through PB Fintech FZ LLC and Policybazaar Middle East. |
| Abu Dhabi | International arm | 1.02× (AED) | Verified UAE market; city-level workforce size is not disclosed. |
H-1B / US visa data
No defensible US H-1B/LCA employer match was located for PB Fintech, Policybazaar, Etechaces or related entity names in the public sources searched. This is a negative finding — "no verified match", not proof that no affiliate has ever filed — and it is consistent with the absence of a material US employee operation in the disclosed footprint.
No material PB Fintech employee operation was verified in United States (New York, Dallas, SF Bay Area, Seattle, Atlanta, Edison/NJ, Chicago); United Kingdom (London); Australia (Sydney, Melbourne); New Zealand (Auckland); Germany (Frankfurt, Munich); Netherlands (Amsterdam); Sweden (Stockholm); Singapore; Saudi Arabia (Riyadh); Canada (Toronto); South Africa (Johannesburg). Compensation is intentionally not fabricated for those markets, and no housing, per-diem or tax-equalization policy is publicly disclosed for temporary mobility.
Variable Pay & Incentives
No definitive PB Fintech formula is public. Target percentages are modelled ranges: frontline sales/service roles carry monthly or quarterly incentives that can exceed the stated band, while leadership targets follow board/committee-set scorecards.
Likely Mechanism by Band
| Band | Modelled target | Likely mechanism | Evidence |
|---|---|---|---|
| A0 | 10–35% of base; sales upside can exceed | Monthly/quarterly frontline sales incentives plus periodic performance pay Public job posts establish incentive-heavy frontline roles, not a common corporate formula. | Modelled |
| A1 | 10–30% | Individual/team sales or service scorecard No audited payout history. | Modelled |
| A2 | 8–20% | Individual rating plus team/business outcomes No company-wide formula disclosed. | Modelled |
| A3 | 8–15% | Annual/periodic individual and business performance No company-wide formula disclosed. | Modelled |
| A4 | 10–20% | Annual target bonus with business-unit and individual modifiers No payout realization data located. | Modelled |
| A5 | 12–25% | Leadership scorecard: product, growth, quality and people outcomes No payout realization data located. | Modelled |
| A6 | 15–30% | Functional/business scorecard plus individual outcomes No payout realization data located. | Modelled |
| A7 | 20–40% | Strategic milestones plus business and individual performance No payout realization data located. | Modelled |
| A8 | 25–60% | Board/committee-set leadership target; named proposals support high opportunity Proposed executive packages imply roughly 33–50% of fixed pay. | Modelled |
| A9 | Named terms | Shareholder/board-approved fixed, variable and equity realization Alok Bansal's FY25 variable pay was ₹60.36 lakh; equity perquisite dominated his total. | Audited |
Disclosed Named-Executive Anchors
- Alok Bansal FY25: salary/allowances ₹93.91L, variable pay ₹60.36L, PF ₹21,600 — plus a ₹246.43Cr ESOP exercise perquisite.
- A disclosed proposed package for Alok Bansal set fixed remuneration near ₹1.548Cr with variable opportunity near ₹0.774Cr — about 50% of fixed.
- A disclosed proposed package for Sarbvir Singh set fixed remuneration near ₹1.884Cr with variable opportunity near ₹0.628Cr — about one-third of fixed.
Calculation inputs — payout history is not disclosed
The likely stack is company/business performance — revenue, contribution margin, renewal/persistency quality, strategic milestones; individual performance — appraisal rating and role-specific goals; frontline sales/service — conversion, productivity, quality/compliance, persistency, customer metrics; leadership — business-unit/functional scorecard, strategic delivery and people outcomes. Frontline job posts indicate recurring incentives, but no single monthly/quarterly/annual payout architecture is published and no defensible company-wide payout-vs-target history was found for FY24–FY26, so realization is recorded as not publicly disclosed rather than inferred from profitability.
Equity — Four ESOP Schemes
ESOP 2014 and 2020 are legacy schemes with nominal ₹2 strikes; ESOP 2021 vests around a 20%-annually-over-five-years pattern; ESOP 2024 is performance-gated with a 150% share-price hurdle over four-to-eight years. About 455 employees (~2% of 22,329) received ESOPs in FY25 — meaningful breadth, not all-employee equity. No separate RSU, PSU or SAR plan was identified.
Pool Utilization & Accounting Load — FY25
Gross grants plus net availability can exceed an initial pool because lapsed or cancelled options recycle — do not subtract mechanically. The ~455 FY25 recipients decisively reject the idea that all employees routinely receive options.
Named Executive Grants — ESOP 2024
| Executive | Options | Exercise price | Vesting / hurdle |
|---|---|---|---|
| Yashish Dahiya | 3,88,889 | ₹1,557.52 | Four-year horizon extendable to eight; 150% hurdle plus performance and service |
| Alok Bansal | 1,61,764 | ₹1,557.52 | Four-year horizon extendable to eight; 150% hurdle plus performance and service |
| Sarbvir Singh | 4,90,196 | ₹1,557.52 | Four-year horizon extendable to eight; 150% hurdle plus performance and service |
At the ₹1,580.4 reference share price the simple intrinsic spread over ₹1,557.52 is only ₹22.88 per option — not the award's economic value. The 150% hurdle implies a far higher share-price threshold, and performance and service conditions still apply.
Recent Grant & Allotment Activity
| Date | Event | Quantity | Price | Detail |
|---|---|---|---|---|
| 05 Jun 2026 | Allotment on option exercise | 1,800 shares | Grant-specific | Post-allotment paid-up equity of 462,694,870 shares. |
| 23 Jan 2026 | Allotment on option exercise | 18,330 shares | Grant-specific | Allotment under employee stock option plans. |
| 12 Dec 2025 | ESOP 2021 grant | 18,782 options | ₹1,597.24 | 20% vesting annually over five years, subject to terms. |
| 06 Dec 2025 | Allotment on option exercise | 682,752 shares | Grant-specific | Material employee-option exercise allotment. |
| 02 Dec 2025 | ESOP 2024 grant | 3,511,256 options | ₹1,589.67 | Four-to-eight-year performance vesting with a 150% share-price hurdle. |
| 31 Mar 2025 | FY25 closing balance | 12,674,125 options | Multiple grants | Consolidated across ESOP 2014, 2020, 2021 and 2024. |
| FY2024-25 | Share-based payment expense | ₹213.68Cr | Fair value | Non-cash employee share-based payment expense recognized in FY25. |
Modelled Eligibility by Band
Shareholders rejected the 2026 ESOP amendment
The June 2026 postal ballot on a proposed ESOP change won 55.74% support — a simple majority that failed the special-resolution supermajority. The schemes stay active, but shareholders did not rubber-stamp an expansion of management's proposed equity design. Legacy ₹2-strike options and near-market performance options coexist, so grant count without strike and hurdle is a poor comparison unit.
Executive Compensation — FY2025
Chairman & Group CEO Yashish Dahiya. FY25 statutory totals are realization events: exercised options enter the remuneration table as taxable perquisites, so they are not clean recurring salary benchmarks.
Dividing Yashish's realized FY25 total by the ₹3.90L male employee median gives roughly 16,444x — deliberately not the headline ratio, because the numerator is a one-year option-exercise event, not recurring pay.
Ranking these as "CEO pay" without stripping the option-exercise perquisite would be nonsense: on recurring cash PB Fintech's executive terms sit in the broad listed-platform zone; on realized FY25 equity it is an extreme outlier.
| Group | Median — Men | Median — Women |
|---|---|---|
| Employees other than board/KMP | ₹3,90,000 | ₹3,37,500 |
| KMP other than board | ₹1,27,36,000 | Not disclosed |
| Board | ₹51,00,000 | ₹42,00,000 |
Role mix can drive the employee-median gap; no adjusted gender-pay analysis controlling for band, role, tenure and location is published.
Executive Directors, Board & Top Employees
FY25 statutory remuneration (Annual Report p.243 and AGM materials). Bars show disclosed totals; the salary / variable / perquisite split beneath each name separates recurring cash from realization.
Independent Director Remuneration — FY25
| Director | Total |
|---|---|
| Nilesh Sathe | ₹54L |
| Kaushik Dutta | ₹48L |
| Veena Mankar | ₹44L |
| Lilian Leong | ₹40L |
| Dhruv Shringi | ₹26.90L |
| Gopalan Srinivasan | ₹22.40L |
| Kitty Agarwal | ₹0 |
Highest-Paid Non-Board Employees — FY25
This disclosed top-ten list is the reality check for the A6–A8 model: associate-director product and technology roles land around ₹84–86L while senior functional and SVP roles run roughly ₹78L–₹1.70Cr.
Founder Trades & ESOP Exercises
Normalized promoter/founder disposals from exchange disclosures and contemporaneous market reporting. All major events were disposals — no takeover-style substantial acquisition was identified, and PB Fintech has no US SEC Form 3/4 obligation.
| Date | Person | Shares | Price | Approx. value | Evidence |
|---|---|---|---|---|---|
| 29 May 2026 | Yashish Dahiya Disposal — Exchange-disclosed founder sale. | 26,00,000 | ₹1,751 | ₹455.26Cr | Observed |
| 29 May 2026 | Alok Bansal Disposal — Founder sale; aggregate with Yashish was about ₹665.38Cr. | 12,00,000 | ₹1,751 | ₹210.12Cr | Observed |
| 26 Jun 2025 | Yashish Dahiya + Alok Bansal Aggregate disposal — Aggregate founder transaction; individual split not normalized. | 50,50,000 | ₹1,821.5 | ₹919.86Cr | Observed |
| 17 May 2024 | Yashish Dahiya Disposal — Approximate block-deal value; reports differ slightly by execution price. | 54,00,000 | ₹1,325.15 | ₹715.58Cr | Observed |
| 17 May 2024 | Alok Bansal Disposal — Approximate shares/value derived from the reported block sale. | 29,70,000 | ₹1,325.15 | ₹393.57Cr | Observed |
Company-level ESOP allotments (682,752 shares on 6 Dec 2025; 18,330 on 23 Jan 2026; 1,800 on 5 Jun 2026) announce equity issued on vested-option exercise. They do not identify the exercising employees and are not insider trades — they sit in the equity activity log unless a named designated-person disclosure exists.
Benefits & Perks
Audited BRSR coverage figures are separated from observed job-posting benefits and undisclosed plan terms. Individual employee reports of food coupons, cab transport or hybrid work are not enough to claim universal eligibility.
India
- Provident fund: employer contribution disclosed at 12% of basic salary; gratuity covers 100% of eligible permanent employees.
- ESI covers 26% of permanent employees, reflecting statutory wage-eligibility thresholds rather than a universal plan.
- Health, life and accident insurance coverage is disclosed in the BRSR, but carrier, sum insured and plan design are not public.
- Parental leave: employee reports commonly cite up to 26 weeks maternity and about 7 days paternity; no company policy document was located. Parental return-to-work was 100% (men) and 96% (women).
- Learning: in-house induction, product/process refreshers, external paid courses and certification programs are disclosed.
- Wellbeing spend was 0.63% of revenue in FY25, up from 0.51% in FY24.
- Food coupons, transport, NPS contribution, phone/internet allowance, relocation and sabbatical policies are not publicly disclosed at a reliable group-wide level.
UAE
- Visa sponsorship is explicitly included in public Policybazaar Middle East postings for some sales roles.
- Medical insurance is included in public UAE postings; plan and provider details are not disclosed.
- Sales incentives: postings show fixed salary plus incentives; upside can be a large fraction of cash pay.
- UAE statutory end-of-service rules apply, but PB Fintech-specific enhancements, housing, flights and school fees are not disclosed.
- UAE employees can be eligible under group listed-company ESOP schemes, but country-specific eligibility is not disclosed.
Group-Wide
- Career-development reviews covered 100% of permanent employees in FY25.
- Four ESOP schemes exist in the consolidated option note; grants are discretionary and not a universal benefit.
- Hybrid/remote policy, EAP provider, formal internal-mobility rules and sabbatical terms are not publicly disclosed.
Because no material employee operation was verified in the US, UK, Australia, New Zealand, continental Europe, Singapore, Saudi Arabia, Canada or South Africa, no PB-specific 401(k), pension, superannuation or PTO package is invented for those markets.
Performance, Progression & Headcount
PB Fintech discloses an annual appraisal with 100% review coverage and a 31-December joiner cutoff, but no rating scale, forced distribution or rating-to-hike matrix.
Modelled Promotion Timeline
| Transition | Typical Years | Promotion Hike | Evidence |
|---|---|---|---|
| A0 → A1 | 1–2 | Modelled 12–25% | Modelled |
| A1 → A2 | 1.5–3 | Modelled 12–25% | Modelled |
| A2 → A3 | 2–4 | Modelled 15–30% | Modelled |
| A3 → A4 | 2–4 | Modelled 15–30% | Modelled |
| A4 → A5 | 2–5 | Modelled 15–35% | Modelled |
| A5 → A6 | 3–6 | Modelled 18–40% | Modelled |
| A6 → A7 | 3–7 | Modelled 20–45% | Modelled |
| A7 → A8 | 4–8+ | Case-specific | Not public |
These ranges describe likely external-market movement, not PB Fintech policy. Internal promotions often trail lateral offers in fast-growing companies, but no lateral-vs-internal pay data is published.
Attrition by Segment — FY25
Headcount Trend
Permanent headcount grew 3,888 (+21.1%) across FY25. Parental return-to-work rates were 100% for men and 96% for women; retention rates were 90% and 76%. No group-wide salary freeze, cut or campus-offer revision was identified for FY25–FY26.
Key Nuances & Insights
PB Fintech publishes no band catalogue, title-to-grade dictionary or dual-track framework. The A0–A9 structure is a normalized model anchored to public role names, salary observations and the FY25 top-remuneration list.
A very large sales/service workforce coexists with meaningful listed-company options for a selective population — about 455 recipients against 22,329 permanent employees, roughly 2%. Equity is broad enough to matter, but it is not an all-employee benefit.
Frontline sales/service roles cluster around low fixed cash with heavy incentive upside; technology, product and management observations are materially higher and widely dispersed. Levels.fyi, Glassdoor and Indeed disagree on the same titles, so the model uses wide ranges instead of the most flattering source.
Legacy options include nominal ₹2 strikes while ESOP 2024 grants are near-market and performance-gated with a 150% share-price hurdle over four-to-eight years. Option count without strike and hurdle is useless.
Yashish Dahiya's ₹641.32Cr and Alok Bansal's ₹247.97Cr were ~99% ESOP exercise perquisites. On recurring cash the executive terms sit in the broad listed-platform zone; on realized FY25 equity, PB Fintech is an extreme outlier.
89.57% permanent turnover blends very different labour markets: contact-centre attrition of 57.93% (ex-infant), corporate functions at 26.12% and a high-performing core cohort at 12%.
PB Fintech FZ LLC and Policybazaar Middle East run local sales roles with visa and medical benefits. A simplistic India-to-UAE multiplier fails — frontline fixed pay can be AED 2,000–4,000 a month with substantial commissions, while senior leaders command tax/mobility premia — so each ladder is modelled separately.
21% permanent headcount growth and scarce technology hiring create plausible compression between lateral hires and internal promotions, but there is no PB-specific internal-equity dataset — treat it as a due-diligence question.
FY25 employee medians were ₹3.90L for men and ₹3.375L for women. Role mix can drive that gap; no adjusted pay-equity analysis controlling for band, role, tenure and location is published.
Ask for the exact internal title, fixed/variable split and payout frequency rather than a CTC number. For ESOPs, get the scheme, grant date, strike, hurdle, vesting, exercise window and leaver treatment — and separate intrinsic value from value at the 150% hurdle. Treat options as risk capital, not guaranteed cash.
Recent News & Developments
Compensation, equity and workforce timeline from FY25 filings, Regulation 30 disclosures, FY26 results and exchange-reported founder transactions.
The postal-ballot proposal received 55.74% support — a simple majority that failed the special-resolution supermajority, blocking the proposed change to the equity design.
Yashish Dahiya sold 2.6 million and Alok Bansal 1.2 million shares at about ₹1,751 each; the aggregate value was roughly ₹665.38 crore.
PB Fintech reported about ₹6,793.8 crore revenue and ₹670 crore profit after tax for FY26 — greater economic capacity for talent investment, though not proof of a specific hike budget.
3,511,256 options were granted at ₹1,589.67 with four-to-eight-year performance vesting and a 150% share-price hurdle.
Disclosures included about 455 ESOP recipients, 22,329 permanent employees and 89.57% permanent-worker turnover across the high-volume operating model.
The aggregate founder sale was reported around ₹1,821.50 per share, or approximately ₹919.86 crore.
The annual report also disclosed average non-managerial salary growth of 18% and managerial growth of 10%.