Every April, my company goes through a salary review process where every single employee has their performance reviewed, and a determination is made if their salary will be adjusted. Our salaries have two parts – one, it must align with our market competitive salary bands, and two, there are adjustments made due to performance.
My salary (previously $63,000), was within the range, however; it was on the lower end of the scale. I could talk for hours about compensation philosophy as for those of you that don’t know, I am in the Human Resources profession – but I’ll spare you all of the details. My supervisor brought me up to $66,969 (a 6.3% increase) which was much closer to where I thought I should be in the band – but I had actually requested to be at $67,500 which is what I thought would be a reasonable market competitive salary for my position. Don’t get me wrong, it was a fair salary increase however; it was still short of market competitiveness considering my education, credentials, experience and performance.
Much to my delight, within the same week as that salary increase, I was offered an internal transfer from a local team, to a Global team. I’ll be working my old Manger and a few other folks that had joined this global group a year and a half ago and there are a few new faces too, which will be a fun challenge as we learn to work together. I love this team, the people are amazing. They are professionals – all committed to doing the very best job that they can for our clients.
Not only was I offered this new position, with a group of people that I really enjoy working with in a job that will challenge me, they also increased my salary again.
They increased my salary to $71,000 – an additional 6.02%, or a total salary increase of 12.70%.
This is a very market competitive salary – I’m certainly not overpaid, and I am still within the salary band for my position. It is a very generous increase, and I was so absolutely thrilled.
Here is a breakdown of my salary increases since I joined this company:
You might notice that there were a couple of increases in the month of October as well – sometimes, our company does an adjustment in that month to ensure market competitiveness, this is not typically an increase due to performance.