Tuesday, July 8, 2008

13 Months Salary

I’ve seen about 6 new clients over the past month. Most of them were listed local companies and one being an international company.

Most of these companies have changed their salary structure effective 08. Four out of 6 companies have adopted 13 months salary which is one months contractual bonus and the KPI structure still stands as up to 2 months salary and other variables depends on company performance. Different company different practice.

The earning power of a IT Engineer is about 13-15 months in most companies now, with or without contractual bonuses. In MNC's the earning power is about 15-17 months salary.

Basic Salary = 14 months, performance bonus X 2 months, company performance up to one months salary. All in all, this is about a 16 months salary structure. Ideally even if you are earning RM 8k you potential earning is about RM 107, 000 yearly.

I think for most firms moving forward, a good market competitive salary structure should be about 13 months basic salary.


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