Another attempt at Templatization, this time it’s Salary.
The template helps you in arriving at a particular salary from a given standard, keep a check on your budget and gives the flexibility to over reach if the candidate is good enough.
Download 2007 version Salary Template.
Operation and functionality basics
- Put in the CTC of a candidate
- If the last appraisal is within last six months, if so then the percentage of hike that can be offered is less
- Offer in hand, If yes than the percentage hike is calculated on the offer in hand and not the CTC
- Experience in SAP – Years
- Education – just for information purpose, not considered in calculation at this time.
- Criticality/Rare technology – just for information purpose, not considered in calculation at this time.
- Rating in interview – Depending upon the interview rating the template decided what kind of variation from standard can be allowed.
- Module – Salary matrix is Module dependent
- Certification – just for information purpose, not considered in calculation at this time.
Note – The salaries in compensation matrix is just for illustration purpose only and the actual need to be taken from Comp and benefit team. Factors behind the salaries can be module and demand in market, years of experience. For first five years the salaries are incrementing at a rate of 30% and obviously this is how market behaves and not companies. After five years the salaries are rising at a rate of 20% considering purely technical expertise.
Kindly let us know if there are any other factors that needs to be considered and how that should affect the salary hikes.
