Can anyone please share with me how to determine a salary range for different job levels?
Example:
Technician Level 3 (Min Pay3) (Max Pay3)
Technician Level 2 (Min Pay2) (Max Pay2)
Technician Level 1 (Min Pay1) (Max Pay1)
Can Max Pay1's value be more than Min Pay2 or not? Under what circumstances?
Appreciate your advice, thanks in advance.
Regards,
Phoebe
From Malaysia, Kuala Lumpur
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Example:
Technician Level 3 (Min Pay3) (Max Pay3)
Technician Level 2 (Min Pay2) (Max Pay2)
Technician Level 1 (Min Pay1) (Max Pay1)
Can Max Pay1's value be more than Min Pay2 or not? Under what circumstances?
Appreciate your advice, thanks in advance.
Regards,
Phoebe
From Malaysia, Kuala Lumpur
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Dear Phoebe,
The salary depends on factors such as:
- Budget
- Market value of the skills required
- Dimension of expertise required
- Availability of the talent with the skill sets required
- Trainability of the job
As stated in your post, Max Pay1 needs to be more than Min Pay2. Suppose you need to hire a Technician (a fresher with a good academic background relevant to your field) who would produce the first-level product. At the point of being inducted, he may not be in a condition to handle the escalations. Hence, you offer him a salary of Mid/Min Pay1. Thereafter, you create a career path and train him to handle escalations and produce a higher level product. Hence, review his salary to Max Pay1.
Now, suppose in the meantime, you need to increase your employee strength and you hire more talents. At this point in time, you make an offer to a technician who has the same amount of knowledge/certifications coupled with experience in working in that role. He may not have handled too many escalations but is aware of the work environment. Hence, he would take a lower training time. Here you offer him a Min Pay2.
This would build on parity in the next performance reviews, where you can match the salaries of the relatively new and existing employees.
Hope this answers your query.
Regards,
(Cite Contribution)
From India, Mumbai
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1872The salary depends on factors such as:
- Budget
- Market value of the skills required
- Dimension of expertise required
- Availability of the talent with the skill sets required
- Trainability of the job
As stated in your post, Max Pay1 needs to be more than Min Pay2. Suppose you need to hire a Technician (a fresher with a good academic background relevant to your field) who would produce the first-level product. At the point of being inducted, he may not be in a condition to handle the escalations. Hence, you offer him a salary of Mid/Min Pay1. Thereafter, you create a career path and train him to handle escalations and produce a higher level product. Hence, review his salary to Max Pay1.
Now, suppose in the meantime, you need to increase your employee strength and you hire more talents. At this point in time, you make an offer to a technician who has the same amount of knowledge/certifications coupled with experience in working in that role. He may not have handled too many escalations but is aware of the work environment. Hence, he would take a lower training time. Here you offer him a Min Pay2.
This would build on parity in the next performance reviews, where you can match the salaries of the relatively new and existing employees.
Hope this answers your query.
Regards,
(Cite Contribution)
From India, Mumbai
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