Salary structure refers to the framework or framework of components that make up an employee's total compensation package. It outlines the various elements of an employee's salary, including base salary, allowances, bonuses, incentives, and other monetary benefits. The salary structure is designed to ensure fairness, consistency, and transparency in determining employee compensation.
Components of a typical salary structure may include:
- Base Salary
- Bonuses and Incentives
- Salary Grades or Bands
- Pay Progression
It's important to note that salary structures can vary across organizations, industries, and countries, as they are influenced by factors such as local labor laws, market conditions, and organizational policies.
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