General Benefits

Table of contents

  1. Commuter Benefits
  2. Retirement Planning
  3. Home Office Setup
  4. Shared Workspace Reimbursement
  5. Continuing Education Allowance
  6. 1Password for Your Family
  7. Unlimited Paid Time Off
  8. Paid Holidays

In addition to our Health Benefits and Pregnancy and Parental Leave, Parallel also offers the following benefits.

Commuter Benefits

For those working near our NY office, Parallel provides commuter benefits via WageWorks. Parallel employees can use tax-free funds to pay for public transportation - such as train, subway, bus or ferry - as part of their daily commute to work. Funds are moved to the account before taxes are deducted, which reduces the overall tax burden. According to WageWorks Commuter Benefits, employees can save an average of 30 percent off their commute. You will be able to access the WageWorks portal and sign up by clicking on “Benefits” in your JustWorks account.

Retirement Planning

Parallel employees have the ability to contribute to our Slavic401(k) program. A 401(k) is a type of retirement savings plan sponsored by an employer. It lets employees save and invest a portion of their paychecks either before taxes are taken out (traditional) or after taxes (Roth). You may enroll in the Slavic401(k) program by following the instructions in this link.

Home Office Setup

Parallel will provide all of the equipment you need to do your job (for instance, a company laptop). These items are owned by Parallel Markets and must be returned to the company upon separation. We also offer a home office stipend to help you make your remote work more productive and comfortable. For example, you may want a more comfortable desk chair or a particular brand of noise-canceling headphones. Unlike items Parallel may purchase for you, items purchased with your home office stipend are yours to keep. Parallel will reimburse up to $1,000 every three years. Note that the home office stipend is treated as taxable income.

If you’d like to make use of your home office stipend, first submit the item(s) you’d like to your manager for approval. If approved, you’ll purchase the item(s) yourself and submit all receipts to the People Ops Team for reimbursement up to the limit of your remaining stipend.

Shared Workspace Reimbursement

If you’d like to work from a co-working space, Parallel will reimburse up to $1,000 per calendar year for those costs. Please note that you’ll be responsible for any commitments made to the co-working host, so make sure if you sign a long term agreement that you’re willing and able to cover any costs above the reimbursable amount.

Continuing Education Allowance

If you’re interested in taking classes that you feel improve you professionally or personally, you have a $1,000 annual stipend to do so. This stipend is also prorated in your first year at Parallel, depending on the month you start. Some people take classes directly related to their careers, while some take photography lessons or learn a musical instrument. It’s up to you; the point is to learn something that you feel enriches you as a person and employee. Note that the continuing education allowance is treated as taxable income.

If you’d like to make use of your continuing education allowance, first submit the class(es) to the People Ops Team for approval. If approved, you’ll purchase the classes and submit all receipts to the People Ops Team for reimbursement up to the limit of your remaining stipend.

1Password for Your Family

Security is core to our product and culture. We use 1Password as our password manager by policy at work and, as a benefit, you can open a 1Password Family plan for free. If you already have a paid 1Password account for you or your family, opting in to have it paid for is simple and requires no changes to your existing Vaults or accounts.

Unlimited Paid Time Off

We trust our employees and our process. Autonomy and self-reliance/management are some of our most important values. We want to give you the flexibility to take as much time as you need so long as your work gets done and gets done well.

We designate ten holidays each calendar year for employees in the United States. When a holiday falls on a Saturday, we usually observe the holiday on the preceding Friday. If the holiday falls on a Sunday, it is normally observed the following Monday. In addition to the below designated holidays, employees are encouraged to take holidays for any religious or civic occasions they observe that are not covered by the below list. It is important to us that our employees take time off that is important to them. Please just be sure to communicate with your team about any non-designated holiday so the group can continue running smoothly. The designated holidays are:

  • New Year’s Day
  • Martin Luther King, Jr. Day
  • Presidents’ Day
  • Memorial Day
  • Juneteenth
  • Independence Day
  • Labor Day
  • Thanksgiving Day
  • Christmas Day
  • New Year’s Eve

For employees outside of the United States, please confer with your manager to determine which holidays will be applicable to your employment.