Associate Director - Total Rewards

Razorpay was founded by Shashank Kumar and Harshil Mathur in 2014. Razorpay is building a new-age digital banking hub (Neobank) for businesses in India with the mission is to enable frictionless banking and payments experiences for businesses of all shapes and sizes. What started as a B2B payments company is processing billions of dollars of payments for lakhs of businesses across India.

We are a full-stack financial services organisation, committed to helping Indian businesses with comprehensive and innovative payment and business banking solutions built over robust technology to address the entire length and breadth of the payment and banking journey for any business. Over the past year, we've disbursed loans worth millions of dollars in loans to thousands of businesses. In parallel, Razorpay is reimagining how businesses manage money by simplifying business banking (via Razorpay X) and enabling capital availability for businesses (via Razorpay Capital).

Role Overview

The Associate Director – Total Rewards will lead the governance of Razorpay's compensation, benefits, ESOP and global rewards strategy across India, Southeast Asia and US. This role will partner with business and leadership to ensure our rewards strategy is competitive, equitable, and aligned with business goals.

Key Responsibilities

• Global Compensation Strategy
• Build and execute a unified global compensation philosophy across India, Southeast Asia, and the US.
• Own job architecture, leveling, compensation bands, and internal equity frameworks.
• Conduct global benchmarking using market surveys across job families.
• Drive annual / bi-annual compensation cycles including merit, corrections, and retention programs.
• Partner with CXOs and Founders on compensation budgeting and financial modeling.
• ESOP & Long-Term Incentive Program Ownership
• End-to-end ownership of ESOP design, refresh cycles, buybacks, vesting, and liquidity events.
• Manage ESOP communication, awareness, grant letters, and employee understanding.
• Build equity strategy scenarios for pre-IPO and post-IPO contexts.
• Work closely with legal, tax, and finance teams on plan compliance across geographies.
• Incentives, Rewards & Recognition
• Design and administer short-term incentive plans, annual bonus structures, and role-specific variable plans (including sales and tech).
• Build governance models for performance-linked pay (cash + equity).
• Oversee company-wide rewards & recognition frameworks and digital R&R platforms.
• Benefits & Insurance Management (Multi-country)
• Evaluate and manage insurance programs (health, life, wellness) across countries.
• Work with brokers and benefit partners to ensure competitive and compliant offerings.
• Introduce scalable global benefits tied to employee experience and retention.
• Compliance, Data & Analytics
• Ensure compensation / benefits compliance across India, Malaysia, Singapore, US (potentially other upcoming geographies in SEA region)
• Provide data-backed insights for leadership decisions – cost modeling, attrition risk, equity dilution, pay equity, and global benchmarks.
• Establish strong governance processes for rewards audits, approvals, and documentation.
• Leadership & Stakeholder Management
• Advise founders, CFO, and senior leaders on global rewards strategy and market competitiveness.
• Collaborate with HRBPs and Talent Acquisition to ensure reward practices support hiring and retention.
• Lead Total Rewards charter; drive operational excellence and automation.

Qualifications & Experience

Razorpay believes in and follows an equal employment opportunity policy that doesn't discriminate on gender, religion, sexual orientation, colour, nationality, age, etc. We welcome interests and applications from all groups and communities across the globe.

Follow us on LinkedIn & Twitter

Skills Required

benefits design, Compensation Benchmarking, Total Rewards, Financial Modeling, Data Analytics