I want to know the mechanics of "adjusted accordingly". Who adjusts it? Do your peers just vote on it? If that's the case, how do they avoid that becomes super political or just trading favors?
This seems relevant, although it doesn't explain everything:
> How pay is determined
>"This is a haphazard process. The payment mechanism is to a very large extent bonus-based. So the contracts usually have a minimum pay segment in it, which is more or less established by tradition. And then the interesting part in this contract is how much is left to the peer review process, which is very complicated. It involves various layers of mutual assessment. "In companies like Microsoft or elsewhere, usually the bonus is something between 8, 15, 20 percent of the basic salary. In Valve, I'm told, there's no upper limit to bonuses. Bonuses can end up being 5, 6, 10 times the level of the basic wage." "Gabe [Newell] had this view from the beginning. He wanted a community of partners, he didn't want to be the boss of anyone or to be bossed around by anyone."
