Can anyone help me with how to fix the salary for employees based on their education, experience, and designation? Our company is an infrastructure company based in Hyderabad. How do I frame a salary structure?
Regards,
Ravindra
HR
From India, Hyderabad
Acknowledge(0)
Amend(0)
Regards,
Ravindra
HR
From India, Hyderabad
Acknowledge(0)Amend(0)
For fixing salary, you need to take various factors into consideration like:
1) What is the level at which the candidate is recruited.
2) His educational qualifications.
3) His skill sets.
4) His total experience and trainings.
5) How much value and potential that can be added by the candidate.
6) The scarcity of talent in that particular field for which he is recruited.
7) What is the compensation that is normally paid for that kind of skill sets and level of the post in the industry to which your company belongs.
All these factors should weigh in deciding an employee's compensation.
B. Saikumar HR & Labour Law advisor Mumbai.
From India, Mumbai
Acknowledge(0)Amend(0)
571) What is the level at which the candidate is recruited.
2) His educational qualifications.
3) His skill sets.
4) His total experience and trainings.
5) How much value and potential that can be added by the candidate.
6) The scarcity of talent in that particular field for which he is recruited.
7) What is the compensation that is normally paid for that kind of skill sets and level of the post in the industry to which your company belongs.
All these factors should weigh in deciding an employee's compensation.
B. Saikumar HR & Labour Law advisor Mumbai.
From India, Mumbai
Acknowledge(0)Amend(0)
Hi, thanks for your reply. The 6th point that you mentioned, how do I find and confirm what is prevailing in the industry. I belong to the Infrastructure Industry in Hyderabad, A.P. Can you help me with this? If possible, please share your phone number so that I can speak to you for some time.
Regards,
Ravindra
From India, Hyderabad
Acknowledge(0)Amend(0)
Regards,
Ravindra
From India, Hyderabad
Acknowledge(0)Amend(0)
Dear Ravi,
Please consider viewing the Salary Survey shared in this link. It will give you an idea of the pay packages specific to any sector.
From India, Mumbai
Acknowledge(0)Amend(0)
Please consider viewing the Salary Survey shared in this link. It will give you an idea of the pay packages specific to any sector.
From India, Mumbai
Acknowledge(0)Amend(0)
You can consider hiring a consultancy to conduct a salary survey for your company within your industry and location. This can provide valuable insights. Another option is to explore SalaryExpert - Salary Survey, Compensation Data, Salaries, and Career Planning.
From India, Mumbai
Acknowledge(0)Amend(0)
From India, Mumbai
Acknowledge(0)Amend(0)
Dear Sanjeev,
Please share your review on Payscale, Salary Expert, and other sites. I have not bought any salary report from them. I primarily used it as an individual user. However, the data at times seems very inconsequential. It seems the salary data for certain areas such as IT or Marketing is still better; I guess it depends on the visitors who upload their existing information to find a comparative view. It did help to gain a broad perspective. However, I wish to know if the data worked for other sectors.
While suggesting any market corrections to the existing pay structures, I had to provide a reference to competitors' pay scale.
PS: Please join in the discussion at Salary Survey. I need your inputs there. Thanks in advance :)
From India, Mumbai
Acknowledge(0)Amend(0)
Please share your review on Payscale, Salary Expert, and other sites. I have not bought any salary report from them. I primarily used it as an individual user. However, the data at times seems very inconsequential. It seems the salary data for certain areas such as IT or Marketing is still better; I guess it depends on the visitors who upload their existing information to find a comparative view. It did help to gain a broad perspective. However, I wish to know if the data worked for other sectors.
While suggesting any market corrections to the existing pay structures, I had to provide a reference to competitors' pay scale.
PS: Please join in the discussion at Salary Survey. I need your inputs there. Thanks in advance :)
From India, Mumbai
Acknowledge(0)Amend(0)
(Cite Contribution),
It is good to refer to such websites for reference purposes; however, it's not a good idea to adopt them in totality. In case a company would like to redesign the compensation structure, the best practice is to hire an agency to conduct an exclusive survey for the organization. Kindly note that the information provided on websites like PayScale - Salary Comparison, Salary Survey, Search Wages or SalaryExpert - Salary Survey, Compensation Data, Salaries, and Career Planning are country-specific and influenced by best practices applicable in the US market.
I hope this will help.
From India, Mumbai
Acknowledge(0)Amend(0)
It is good to refer to such websites for reference purposes; however, it's not a good idea to adopt them in totality. In case a company would like to redesign the compensation structure, the best practice is to hire an agency to conduct an exclusive survey for the organization. Kindly note that the information provided on websites like PayScale - Salary Comparison, Salary Survey, Search Wages or SalaryExpert - Salary Survey, Compensation Data, Salaries, and Career Planning are country-specific and influenced by best practices applicable in the US market.
I hope this will help.
From India, Mumbai
Acknowledge(0)Amend(0)Looking for something specific? - Join & Be Part Of Our Community and get connected with the right people who can help. Our AI-powered platform provides real-time fact-checking, peer-reviewed insights, and a vast historical knowledge base to support your search.
Compensation Gradation & Salary Survey 2008.zip
Creating a Competitive Salary Structure.doc