Unacademy And Esops For Teachers
The Unacademy becomes the first ed-tech platform to offer esops. Unacademy Educators will be offered stock options of around $40 million in the upcoming years, stated by Gaurav Munjal, cofounder and chief executive at Unacademy. However, online teaching platforms are one of the most used educational sites nowadays because of Covid-19.
Munjal said that stocks create true wealth. He also stated, “We are who we are because of our Educators and we want our Educators to grow and create wealth as Unacademy grows!.”
Munjal tweeted, “We are announcing Teacher Stock Options (TSOPs) for all Unacademy Educators.”
First of all, Munjal, in a series of tweets, stated, “Unacademy educators will be eligible for fully vested Stock Grants on completion of three, four and five years with Unacademy.”
Secondly, he added, “On Day One (which is today), we already have more than 300 educators eligible for the grant which they will get immediately. Over the next few years, we will give grants of over $40 million to our educators.”
Below is the tweet on Thursday announcing the big news-
On Day One (which is today) we already have more than 300 Educators eligible for the Grant which they will get immediately. Over the next few years we will give Grants of over $40M to our Educators.— Gaurav Munjal (@gauravmunjal) July 29, 2021
What is Esop?
In a company, Esop aka Employee Stock Ownership Plan grants incentives for permanent employees, mainly in startups. It allows the employee to own equity share of the company for a specific period of time. Overall, it helps to attract more and more talented employees.
What is Unacademy Educators Average Salary?
As per the official website, the average salary of unacademy teachers is Rs. 6.6 LPA and now permanent employers are eligible for esop. All the best to them!