URL Shortening: What is the cheapest option to create customized shortened URL?

I am working on a product, where I am showing some 'n' number of jobs on a webpage. Now, I want to shorten the url's and show shortened & customized url's to the user. I did some google search and found that there are lot of service providers like bitly who provide you that service.

Here's what I want to do :

My URL : http://ift.tt/1RPjQXd

To:

URL1 : http://someShortenedURL/xyz/123

or

URL2: http://someShortenedURL/companyName=xyz&jobId=123

It's just that I want to retain the company and jobID information in my URL after I shorten the link. I know bitly does it. But we need to buy their service for that. Is it any cheaper way to do it or any other service which is cheaper and/or better than bitly?

Thanks.