ThredUp's India team setup with Wisemonk
Wisemonk is trusted by 100+ global companies building their teams in India. Key customers include:
We have established ourselves as a leading Employer of Record service provider with over 4 years of experience. We have built a strong foundation in India's key technology hubs, with office locations in Bangalore (3 offices), Delhi, Chennai, Pune, and Kochi. Our presence in major Indian cities has enabled us to successfully support international companies in establishing their local presence.
Wisemonk Services
1
BUILD
(Recruitment)
2
OPERATE
(EOR)
3
TRANSFER
(Entity Consultation)
Why Wisemonk?
- Expert Local Support: India-based HR team with deep understanding of local practices
- Employee-Focused Benefits: Flexible insurance plans and tax optimizations that maximize employee satisfaction
- Proven Growth Partner: We've helped companies evolve from their first India hire to teams of 20+ professionals, adapting our services as their needs change
Overview
Thredup is setting up a small engineering team in India to drive global innovation. They aim to collaborate with the top-tier talent, tapping into India's technical expertise.
To achieve this, Wisemonk has outlined a strategic roadmap, including a project timeline, cost estimates, and competitive salary benchmarks. This will help achieve the objective of building a high-impact, India-based engineering team to support Thredup's continued growth.
Thredup will leverage an Employer of Record (EOR) arrangement to streamline recruitment and onboarding, allowing them to focus on identifying and nurturing the best talent while the EOR partner handles administrative complexities.
Project Timeline
As we prepare to set up your India operations, we've mapped out a streamlined 8-week timeline to have your first team members onboarded and ready to hit the ground running.
In the first phase, we'll handle the full recruiting process - from sourcing top candidates to conducting interviews and making offers. In parallel, our team will finalize all the Employer of Record (EOR) details to ensure a seamless onboarding experience for your new hires.
One week before the official start date, we'll dispatch all necessary equipment and enroll new team members in benefits like health and life insurance. This will allow us to hit the ground running from day one, with everyone fully equipped and ready to contribute.
Cost estimation
To give you a sense of the potential salary costs, we've estimated the projected annual salaries for key roles based on benchmarks for similar positions at leading e-commerce companies in India (Refer Appendix 1). These projections factor in a 20% increase to attract top talent to your team.
In addition to the salaries, we've also budgeted for one-time equipment costs of ₹150,000 per employee, as well as ₹80,000 per employee for annual benefits. We've accounted for these expenses, as well as ongoing costs for EOR fees, office expenses, and employee engagement activities, in our overall financial projections.
Additionally, you'll need to pay a one-time finder's fee when new hires join. For ongoing operations, we've projected costs for employee salaries, EOR fees, office expenses, and employee engagement in the table below:
Assumptions:
¹We have assumed a cost of INR 18,000 per seat for the office space for Bangalore CBD or any other CBDs.
²We have assumed a cost of INR 3,500 per month per employee for activities related to employee engagement including but not limited to team lunches/outings, festival/birthday celebrations, etc.
³ USD/INR assumed at 84.
Wisemonk Recruitment services
Scope of work
Role Definition and Requirement Gathering
- Understand recruitment needs in collaboration with Thredup
- Develop detailed job descriptions
- Finalize required qualifications, experience, and compensation for each position
Sourcing and Advertising
- Develop and execute a tailored sourcing strategy
- Post job openings on LinkedIn/Naukri
- Leverage professional networks and Wisemonk’s talent pool to attract qualified candidates
Candidate Screening and Shortlisting
- Screen applications to assess suitability
- Conduct preliminary interviews
- Present a shortlist of top candidates for Thredup’s review
Interview Coordination
- Schedule and coordinate interviews between shortlisted candidates and Thredup’s hiring team
- Ensure timely communication and feedback throughout the process
Offer Management and Negotiation
- Coordinate job offers to selected candidates
- Support negotiation of terms and compensation
Recruitment Service Fee
Key terms
1
Finder's Fee
10% of the selected candidate's first year salary
2
Payment Terms
To be paid within 7 days of the joining of the candidate
3
Guarantee
Free replacement in case the candidate resigns voluntarily within 90 days
Wisemonk Employer of Record Services
Scope of work
Employment Management
- Complete Employment Lifecycle Management
- Employee Records Maintenance
- Standardised Onboarding Process
- Compliant Offboarding Process
Local Employment
- Full Compliance with Indian Labour Laws
- Tax Deductions and Filings Management
- Dedicated Support for Dispute Resolution
HR and Benefits Adminstration
- Comprehensive employee benefits
- Leave and Attendance Management
- Benefits Administration
IT and Equipment Management
- Device Procurement
- Employee delivery and declaration
- Device Retrieval
Pricing for EOR services
8% of all employee salaries
Includes:
Dedicated account manager
Personalized support for your account needs
Local employment
Hiring local talent for better cultural fit
Payroll administration
Efficient handling of employee payroll
Onboarding support
Smooth transition for new hires
Unlimited expense reimbursements
Flexible reimbursement policy for expenses
Employee background check and reference check
Thorough screening process for new employees
Insurance Administration (Health/Life/Accident)
Managing employee insurance coverage
New Equipment Procurement Support
Assistance in acquiring necessary equipment
Equipment Transition Support
Smooth transition and setup of new equipment
L1 IT Support
Basic IT support for employees
Local payments in USD/AUD + 11 other currencies
Convenient payment options for global transactions
Appendix I
Salary Benchmarking
Senior Software Engineer
Below we have included salary benchmarks of some relevant candidates who meet your requirements and are working in India's leading Ecommerce companies:
Current annual salary (INR) vs Number of years of experience
Senior Backend Engineer
Below we have included salary benchmarks of some relevant candidates who meet your requirements and are working in India's leading Ecommerce companies:
Current annual salary (INR) vs Number of years of experience
Senior Data Engineer
Below we have included salary benchmarks of some relevant candidates who meet your requirements and are working in India's leading Ecommerce companies:
Current annual salary (INR) vs Number of years of experience
Business Intelligence and Analytics
Below we have included salary benchmarks of some relevant candidates who meet your requirements and are working in India's leading Ecommerce companies:
Current annual salary (INR) vs Number of years of experience
ML Engineer
Below we have included salary benchmarks of some relevant candidates who meet your requirements and are working in India's leading Ecommerce companies:
Current annual salary (INR) vs Number of years of experience
Head of Engineering/Technical Lead
Below we have included salary benchmarks of some relevant candidates who meet your requirements and are working in India's leading Ecommerce companies:
Current annual salary (INR) vs Number of years of experience