Associate Director-Total Rewards
Posted on: November 24, 2025 | #LI-Hybrid #LI-ND1
Company Name: Razorpay.com
Division: People Operations | Reports to: Chief Financial Officer
Location: Bangalore, India | Employment Type: Full-Time
Schedule: Hybrid (4 Days in Office) | Experience Level: 10+ Years
About Razorpay
Razorpay is India's leading full-stack financial technology company, revolutionizing how businesses across Asia move, manage, and grow their money. Since our founding in 2014 by Harshil Mathur and Shashank Kumar with a simple but powerful vision—to simplify payments for Indian businesses—we've evolved into a fintech powerhouse driving the digital payment revolution across the region.
What started as a payments solution has transformed into a comprehensive platform that empowers millions of businesses with a smarter, more scalable technology stack. We've expanded far beyond simple transactions to help businesses truly build, scale, and thrive in the digital economy. Our integrated fintech ecosystem now spans India, Singapore, and Malaysia, and we're engineering solutions that are fundamentally redefining how money moves across Asia.
Today, our ecosystem supports an incredibly diverse range of businesses—from early-stage startups taking their first online payment to some of India's largest enterprises processing millions of transactions daily. We enable them to accept, process, and disburse payments at scale while continuously expanding into innovative new ways of managing money more efficiently. From seamless checkout experiences to sophisticated payroll automation, we're building the complete financial infrastructure that modern businesses need.
Our Culture: What Makes Razorpay Different
At Razorpay, we've built more than just a successful company—we've cultivated a unique culture that sets us apart in the industry:
Ownership is our oxygen — When you join Razorpay, you truly own what you build. There's no micromanagement, no bureaucratic red tape, no endless approval chains. We give you the runway to make your ideas fly and the autonomy to execute them your way. Your work is yours, and the impact you create belongs to you.
Learning is a lifestyle — We believe curiosity is a competitive advantage. If you're someone who constantly asks "why?" and "what if?", you'll feel at home here. We invest in continuous learning, knowledge sharing, and personal growth. Every challenge is an opportunity to expand your capabilities.
People > Pedigree — We hire for attitude, hustle, and hunger more than degrees or brand names on resumes. We care about what you can do, how you think, and how you approach problems—not where you went to school or who you worked for previously. Talent and drive matter more than pedigree.
Transparency thrives over titles — This is a place where interns question CXOs in open forums, and CXOs genuinely say "thank you" for the challenge. Hierarchy doesn't limit dialogue. The best idea wins, regardless of who suggests it. We believe transparency builds trust, and trust builds great companies.
The Opportunity
We're seeking an exceptional Associate Director – Total Rewards to lead the comprehensive governance and strategic evolution of Razorpay's compensation, benefits, ESOP programs, and global rewards strategy across our entire footprint—India, Southeast Asia, and the United States.
This is a high-impact, highly visible strategic role that will partner directly with our business leaders, executive team, and founders to ensure our rewards programs remain competitive in the market, equitable across our organization, perfectly aligned with our ambitious business goals, and supportive of our culture of ownership and excellence. You'll be the architect of how we attract, retain, and reward top talent in one of the world's most competitive talent markets.
As we continue our rapid growth trajectory and prepare for the next phase of our journey, the Total Rewards function becomes increasingly critical. You'll have the opportunity to shape compensation philosophy, equity programs, and benefits strategy at a scale few companies offer, with the complexity of multiple geographies, diverse talent segments, and the unique considerations of a high-growth pre-IPO fintech company.
What You'll Do
Global Compensation Strategy & Architecture
You'll be the strategic owner of our global compensation philosophy, building and executing a unified, coherent approach across India, Southeast Asia, and the United States. This means developing compensation frameworks that are locally competitive yet globally consistent, ensuring we can compete for the best talent in every market while maintaining internal equity and fairness.
- Design, build, and continuously refine our global compensation philosophy that reflects our values, supports our business strategy, and positions us competitively in every market we operate in
- Own our complete job architecture, including leveling frameworks, job families, career ladders, and progression criteria that create clear career pathways for every Razor
- Develop and maintain comprehensive compensation bands and salary structures that are market-competitive, internally equitable, and financially sustainable as we scale
- Create and enforce internal equity frameworks that ensure fair pay across demographics, geographies, functions, and levels while addressing any gaps proactively
- Conduct rigorous global benchmarking using multiple market surveys across all job families, ensuring our data sources are current, relevant, and representative of the markets we compete in
- Drive our annual and bi-annual compensation review cycles end-to-end, including merit increases, market adjustments, compression corrections, and targeted retention programs
- Partner closely with CXOs and Founders on compensation budgeting, long-term financial modeling, and scenario planning to ensure our rewards strategy is both competitive and financially sustainable
- Build sophisticated compensation models that help leadership understand the total cost implications of various scenarios, including headcount growth, promotion cycles, and market adjustments
ESOP & Long-Term Incentive Program Ownership
As a pre-IPO company with ambitious growth plans, our equity programs are crucial to our ability to attract and retain world-class talent. You'll take complete end-to-end ownership of our ESOP strategy, administration, and communication.
- Own the complete design, administration, and evolution of our ESOP program, including grant policies, eligibility criteria, allocation frameworks, and refresh cycles that keep our equity compensation competitive
- Manage all aspects of ESOP refresh cycles, ensuring we retain critical talent and reward exceptional performance through meaningful equity grants
- Oversee ESOP buyback programs, vesting schedules, exercise windows, and liquidity events, ensuring smooth execution and positive employee experiences
- Develop comprehensive ESOP communication strategies, educational programs, awareness campaigns, and resources that help every employee understand the true value of their equity compensation
- Create clear, compelling grant letters and supporting materials that effectively communicate the value proposition of equity ownership at Razorpay
- Build detailed equity strategy scenarios for both pre-IPO and post-IPO contexts, helping leadership make informed decisions about equity usage, dilution management, and long-term incentive strategy
- Collaborate closely with our legal, tax, compliance, and finance teams to ensure our equity plans remain compliant with regulations across all geographies while optimizing for employee benefits and company objectives
- Model various equity scenarios, including different valuation outcomes, dilution impacts, and option pool requirements, to support strategic planning
Incentives, Rewards & Recognition Programs
Beyond base compensation and equity, you'll design and manage the full spectrum of short-term incentives and recognition programs that drive performance and celebrate success.
- Design innovative and effective short-term incentive plans, annual bonus structures, and quarterly incentive programs aligned with business objectives and individual performance
- Create role-specific variable compensation plans tailored to different functions including sales incentives, technical performance bonuses, and operational excellence rewards
- Build comprehensive governance models for performance-linked pay that effectively connect individual and team performance to both cash and equity rewards
- Develop and oversee company-wide rewards and recognition frameworks that celebrate achievements, reinforce our values, and foster a culture of appreciation
- Implement and manage digital R&R platforms that make recognition easy, visible, and meaningful across our distributed organization
- Create flexible spot bonus programs, peer recognition systems, and milestone celebration frameworks that complement formal compensation programs
- Analyze the effectiveness of incentive programs and continuously optimize them based on data, feedback, and business outcomes
Benefits & Insurance Management (Multi-Country)
You'll be responsible for evaluating, designing, and managing our complete benefits portfolio across multiple countries, ensuring we offer competitive, compliant, and valued programs everywhere we operate.
- Conduct comprehensive evaluations of our insurance programs, including health insurance, life insurance, accidental coverage, wellness benefits, and other offerings across all countries
- Partner with insurance brokers, third-party administrators, and benefit providers to negotiate competitive rates, ensure excellent service delivery, and maintain compliant offerings
- Introduce scalable global benefits programs that tie directly to employee experience, well-being, and retention while managing costs effectively
- Design country-specific benefits that respect local market practices and regulations while maintaining consistency with our global philosophy, where possible
- Continuously assess emerging benefits trends, including mental health support, family benefits, financial wellness programs, and lifestyle perks, to keep our offerings competitive and relevant
- Manage vendor relationships, service level agreements, claims escalations, and benefit administration to ensure smooth employee experiences
- Create clear benefits communication and education programs that help employees understand and maximize the value of their complete rewards package
- Analyze benefits utilization data, employee feedback, and market trends to make data-driven recommendations for program enhancements
Compliance, Data & Analytics
In a complex, multi-geography environment, you'll ensure we remain compliant while leveraging data and analytics to drive better decision-making.
- Ensure full compensation and benefits compliance across India, Malaysia, Singapore, the United States, and potentially other upcoming geographies in the Southeast Asia region
- Stay current with evolving labor laws, tax regulations, equity compliance requirements, and benefits mandates across all jurisdictions
- Build robust reporting and analytics frameworks that provide leadership with data-backed insights for critical decisions
- Develop sophisticated cost modeling, workforce planning tools, and total rewards forecasting that support strategic business planning
- Create dashboards and reports covering attrition risk analysis, equity dilution tracking, pay equity assessments, competitive positioning, and global compensation benchmarks
- Establish strong governance processes for rewards audits, approval workflows, documentation standards, and compliance reviews
- Conduct regular pay equity analyses across gender, ethnicity, and other dimensions to proactively identify and address any disparities
- Partner with our People Analytics team to leverage advanced analytics, predictive modeling, and data science in rewards decision-making
- Build business cases and ROI analyses for rewards program investments, helping leadership allocate resources effectively
Leadership, Stakeholder Management & Team Development
This role requires exceptional leadership presence and the ability to influence and advise at the highest levels of the organization.
- Serve as a trusted strategic advisor to our Founders, CFO, CHRO, and senior leadership team on all matters related to global rewards strategy, market competitiveness, and talent retention
- Collaborate closely with HRBPs and Talent Acquisition partners to ensure our rewards practices directly support hiring success, retention goals, and overall talent strategy
- Lead the Total Rewards charter, setting the vision, priorities, and roadmap for the function as we scale
- Drive operational excellence, process automation, and system optimization to create a scalable, efficient Total Rewards operation
- Build strong cross-functional partnerships with Finance, Legal, Tax, People Analytics, and other teams to ensure coordinated, compliant, and effective rewards programs
- Present complex rewards topics to leadership and broader audiences in clear, compelling ways that drive understanding and alignment
- Manage and develop your team (if applicable), fostering a culture of excellence, continuous improvement, and customer service
- Stay connected to external best practices, market trends, and innovative approaches to Total Rewards through professional networks, conferences, and industry research
What You'll Bring
Required Experience & Expertise
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10+ years of deep, substantial Total Rewards experience with a proven track record in a strategic, leadership capacity. Your experience should include a balanced mix of:
- High-growth technology or product companies where you've navigated rapid scaling, evolving business models, and competitive talent markets
- Global compensation and benefits design and administration across multiple countries with different regulatory environments, market dynamics, and talent expectations
- ESOP administration and equity program management including grant management, refresh cycles, vesting administration, and employee communication
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Hands-on, practical experience working across multiple geographies, specifically including India, Southeast Asia, and the United States. You understand the nuances of different markets, can navigate various regulatory environments, and know how to balance global consistency with local relevance.
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Strong analytical, financial, and modeling skills with demonstrated comfort building complex financial models, analyzing large datasets, and translating data into actionable insights. You should be proficient in Excel, comfortable with financial concepts, and able to build models that support executive decision-making.
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Comfort and credibility partnering with C-suite executives, founders, and senior business leaders. You can hold your own in strategic discussions, provide candid advice, influence outcomes, and communicate complex topics clearly to non-HR audiences.
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Deep expertise in compensation benchmarking methodologies, market survey participation and analysis, job architecture development, salary structure design, and pay equity analysis. You know how to use market data effectively and can defend your recommendations with solid methodology.
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Comprehensive knowledge of benefits design principles, insurance program management, vendor negotiation, and benefits compliance across different countries. You understand both the strategic and operational aspects of benefits administration.
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Proven experience designing and managing incentive plans across different functions, including sales compensation, annual bonuses, and performance-linked rewards. You understand what drives behavior and can design programs that align individual actions with business outcomes.
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Exceptional stakeholder management, communication, and influencing skills. You can build trust quickly, navigate complex organizational dynamics, communicate with impact, and drive change effectively even in the face of resistance.
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Process orientation and operational excellence mindset. You can build scalable processes, implement systems effectively, drive automation where appropriate, and ensure consistent execution of rewards programs.
MBA or postgraduate degree in Human Resources, Finance, Compensation, Business Administration, or a related field is preferred but not required if you have exceptional relevant experience.
Relevant professional certifications such as CCP (Certified Compensation Professional), GRP (Global Remuneration Professional), or similar credentials are valued.
- What Success Looks Like
In your first year at Razorpay, success in this role means:
- Establishing yourself as a trusted advisor to leadership on all Total Rewards matters
- Completing a comprehensive audit and assessment of our current rewards programs across all geographies
- Driving at least one complete annual compensation cycle with improved process, better analytics, and strong stakeholder satisfaction
- Making meaningful improvements to our ESOP communication and employee understanding of equity value
- Building robust analytics and reporting that become essential tools for leadership decision-making
- Strengthening compliance and governance across all programs
- Identifying and beginning to implement at least one major strategic initiative that significantly improves our competitive position or employee experience
Why This Role Matters
Total Rewards isn't just about paying people—it's about creating a value proposition that attracts extraordinary talent, rewards exceptional performance, and retains the people who drive our success. In a company growing as fast as Razorpay, operating in highly competitive talent markets, and preparing for the next chapter of our journey, this role has enormous strategic importance.
You'll have the opportunity to shape how we reward 3000+ people today and influence our approach as we continue scaling. You'll work on complex, interesting problems at the intersection of compensation strategy, equity planning, benefits design, and global expansion. And you'll do it all in a culture that values ownership, transparency, and impact.
Equal Opportunity Employment
Razorpay believes in and follows an equal employment opportunity policy that doesn't discriminate based on gender, religion, sexual orientation, color, nationality, age, marital status, disability, or any other characteristic protected by law. We welcome interests and applications from all groups and communities across the globe. We're committed to building a diverse team and creating an inclusive environment where everyone can thrive.
Ready to Join Us?
If you're a strategic Total Rewards leader who thrives on complexity, loves building scalable solutions, and wants to make a significant impact at one of Asia's fastest-growing fintech companies, we'd love to hear from you. Come help us build the financial infrastructure of the future while creating rewards programs that set new standards for the industry.
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