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 | 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 = | = 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 | 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. | 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. | 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.