Salaries: Difference between revisions

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Many companies create confusion around compensation rules, hoping they will get away with paying people unfairly. The outcomes are bad feeling, low morale, high turnover and toxic office politics. Completely [[Transparency|transparent]], our policy in this document is publicly available. Everyone has a right to know about career progression, how they can achieve success, and where their colleagues stand.
Many companies create confusion around compensation rules, hoping they will get away with paying people unfairly. The outcomes are bad feeling, low morale, high turnover and toxic office politics. Completely [[Transparency|transparent]], our policy in this document is publicly available. Everyone has a right to know about career progression, how they can achieve success, and where their colleagues stand.
We keep [[Compensation|salary rules simple]] and easy to understand. They are based on the levels and are public knowledge. We introduce them in the page of each framework so you know exactly how much your qualifications are worth in Secure Group. Please note, all salaries are calculated in Bulgarian Lev and the salaries presented are NET.  
We keep salary rules simple and easy to understand. They are based on the levels and are public knowledge. We introduce them in the page of each framework so you know exactly how much your qualifications are worth in Secure Group. The salary for each position is available in relevant the framework page. Please note, all salaries are calculated in Bulgarian Lev and the salaries presented are NET.  
 
= [[Individual Contributors]] =
 
{| class="wikitable"
|-
* [[Android_Development#Salary_Grid|Android Development]]
* [[Full_Stack_Web_Development#Salary_Grid|Full Stack Web Development]]
* [[Front-End Web Development#Salary_Grid|Front-End Web Development]]
* [[Information Security#Salary_Grid|Information Security]]
* [[Microsoft System Administration#Salary_Grid|Microsoft System Administration]]
* [[Linux System Administration#Salary_Grid|Linux System Administration]]
* [[QA Automation #Salary_Grid|QA Automation]]
* [[Quality Assurance#Salary_Grid|Quality Assurance]]
* [[Product Owner#Salary_Grid|Product Owner]]
* [[DevOps#Salary_Grid|DevOps]]
* [[Digital Marketing#Salary_Grid|Digital Marketing]]
* [[Marketing Automation#Salary_Grid|Marketing Automation]]
|-
|
* [[Business Analysis#Salary_Grid|Business Analysis]]
* [[Community Management#Salary_Grid|Community Management]]
* [[Graphic Design#Salary_Grid|Graphic Design]]
* [[WebSite Development#Salary_Grid|WebSite Development]]
|
* [[Business Development#Salary_Grid|Business Development]]
* [[Business Intelligence#Salary_Grid|Business Intelligence]]
* [[Technical Sales and Support#Salary_Grid|Technical Sales and Support]]
* [[Product Marketing#Salary_Grid|Product Marketing]]
|
* [[UX/UI Design#Salary_Grid|UX/UI Design]]
* [[Technical Recruitment#Salary_Grid|Technical Recruitment]]
* [[Accounting and Finance#Salary_Grid|Accounting and Finance]]
|-
|}


= Salary formula =
= Salary formula =


We use a custom formula to ensure that our salaries are on top of the market. With this formula, we calculate the salary for a '''Level 2 Step 1 (for the IC Path)''', which is the equivalent of a senior position in the local market, and with that, we build the salary grid for the framework. Since we are an international company and our employees contribute to solutions that have a global impact, we consider it fair to compare their monetary reward with the one in the foreign labor markets.
We use a custom formula to ensure that our salaries are on top of the market. With this formula, we calculate the salary for a Level 2 Step 1 (for the IC Path), which is the equivalent of a senior position in the local market, and with that, we build the salary grid for the framework. Since we are an international company and our employees contribute to solutions that have a global impact, we consider it fair to compare their monetary reward with the one in the foreign labor markets.  
Here is the formula itself and an explanatory legend below to calculate.
 
[[File:Salary Formula Latest.png|left]]
 
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*LMV - Local Market Value [https://www.zaplatomer.bg/ Zaplatomer]
*10% increase over the highest salary announced in Zaplatomer
*IMV - International Market Value for a low-cost city (PayScale.com; Glassdoor.com)
*38% - taxes deduction for USD salary
 
Once we have defined your base NET salary for Level 2, the rule for building the salary for each level and step goes as follows:
* From one Level to the other you should apply an increase/decrease of 1000 leva.
* From one Step to the other you should apply an increase/decrease of 150 leva.
 
= [[Management]] =
 
* [[Software Engineering Management#Salary_Grid|Software Engineering Management]]
* [[Marketing Management#Salary_Grid|Marketing Management]]
* [[Strategic Business Development#Salary_Grid|Strategic Business Development Management]]
* [[Partner Success Management#Salary_Grid|Partner Success Management]]
* [[Product Management#Salary_Grid|Product Management]]
* [[Human Resources Management#Salary_Grid|Human Resources Management]]
* [[Operations Management#Salary_Grid|Operations Management]]
* [[Finance Management#Salary_Grid|Finance Management]]
 
We use another formula for building the Management positions. We look for the position's title in a US Salary Information Site and in the local salary information websites. From the US monthly gross salary we deduct 38% for defining the net salary and apply the cost of living index for Sofia which is 0.75. The result corresponds to Level 3 of each of our [[Management |Management roles]] (Coordinator, Manager, Sr. Manager, Head of).


[[File:MngmSalary.png|left]]
We use another formula for building the Management positions. We look for the position's title in a US Salary Information Site and in the local salary information websites. From the US monthly gross salary, we deduct 38% for defining the net salary and apply the cost of living index for Sofia which is 0.75. The result corresponds to Step 3 of each of our Management Levels.
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HAS- Highest Announced Salary (PayScale.com; Glassdoor.com)</br>
38% - taxes deduction for USD salary</br>
75% multiplier for cost of living


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Both formulas can be checked in our [[Compensation]] page.

Latest revision as of 09:27, 23 June 2021

Many companies create confusion around compensation rules, hoping they will get away with paying people unfairly. The outcomes are bad feeling, low morale, high turnover and toxic office politics. Completely transparent, our policy in this document is publicly available. Everyone has a right to know about career progression, how they can achieve success, and where their colleagues stand. We keep salary rules simple and easy to understand. They are based on the levels and are public knowledge. We introduce them in the page of each framework so you know exactly how much your qualifications are worth in Secure Group. The salary for each position is available in relevant the framework page. Please note, all salaries are calculated in Bulgarian Lev and the salaries presented are NET.

Salary formula

We use a custom formula to ensure that our salaries are on top of the market. With this formula, we calculate the salary for a Level 2 Step 1 (for the IC Path), which is the equivalent of a senior position in the local market, and with that, we build the salary grid for the framework. Since we are an international company and our employees contribute to solutions that have a global impact, we consider it fair to compare their monetary reward with the one in the foreign labor markets.

We use another formula for building the Management positions. We look for the position's title in a US Salary Information Site and in the local salary information websites. From the US monthly gross salary, we deduct 38% for defining the net salary and apply the cost of living index for Sofia which is 0.75. The result corresponds to Step 3 of each of our Management Levels.

Both formulas can be checked in our Compensation page.