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Anne van Niekerk, Programme Manager
NOAH
HR News

Market related salary?

Lately when doing market benchmarking I’ve sometimes heard the comment “I can get an X (Accountant/ Project Manager, etc) for less than the market package benchmarks you are showing me here”. It’s worth commenting on this.

The statement is of course true: there are always individuals whose services can be obtained for less than the “going rate”. The reasons are almost endless, and include:

· Those who are unemployed and urgently seeking employment;

· Those who are unaware of their true market worth;

· Those who are attracted by the reputation/image of the company or its proximity to their home;

· Those who are relatively independent financially and do not need a high package from their employer; etc.

However the purpose of market benchmarking is to establish the middle of the market (and the spread on either side of this midpoint) to obtain the most balanced view of an individual’s package relative to market.

In effect organisations need to pay their employees the packages for which those employees are prepared to work; this is a separate issue from market benchmarking. And often this “deal” (the accord struck between employer and employee regarding the package for which the employee is prepared to offer their services) works, sometimes for a long time. Just remember that eventually people do come to understand their true market worth and can end up leaving for greener pastures.

In essence it’s a risk management issue: the more you pay someone below their market worth, the more you are exposing yourself to the risk of the employee leaving for package reasons. Assessment of the degree of risk of losing specific individuals is key to this whole risk management process: some people create a bigger void on leaving the company than others.

About the Author:

Rob has a long term involvement with Human Resources, having developed the 6M simulation (Basic Business Concepts for Employees), and has been intensely focussed on remuneration issues for over 18 years. You may come across Rob taking weekend hikes in the Cederberg or waveskiing at Muizenberg.

28 Comments

  1. Ashley Herold
    Posted October 19, 2010 at 4:57 pm | Permalink

    I am in a Hotel Maintenance Industry and majority of my men are handy men with all individual skill. what is the benchmark salary for these men

  2. Kuben Moodley
    Posted March 15, 2011 at 1:10 pm | Permalink

    hello what is the market related salary for a Regional Sales Operations Manager

  3. VIREN
    Posted April 29, 2011 at 1:05 pm | Permalink

    Hi i do up and download for a company in the security industry, what is a approxmaite salary bracket, your comment will be most valuable to me

    Thank you

  4. Shay-Lea Blues
    Posted May 11, 2011 at 11:40 am | Permalink

    Hi there! have been offered a sales/marketing management position for a large company in Johannesburg. This is a direct marketing company and I have 23 years’ experience in this field, along with a degree in marketing. Could you please advise? I ran my own company (direct marketing) for 13 years, so I have extensive knowledge of the field. The company is extremely keen, but I do not want to price myself out of the position. Many, many thanks. Shay-Lea.

  5. dimonet
    Posted May 29, 2011 at 4:14 pm | Permalink

    What is the market related salary for a legal teamleader?

  6. Shari
    Posted June 22, 2011 at 11:20 am | Permalink

    Please can someone tell me what the market related salary is for a Buiness Development rep it?

    I cant find it anywhere.

    please????

    thanks
    Shari

  7. Saafiyyah
    Posted September 21, 2011 at 3:14 pm | Permalink

    Hi,
    Please can someone tell me what the market related salary is for a cashbook & creditors clerk?

    Please help need it urgently

    tahnks
    Saafiyyah

  8. Vumile Mthethwa
    Posted October 25, 2011 at 3:50 pm | Permalink

    Hi I’ve been offered a position of a PA and they said the salary is market related. I havent been working so Im not to sure of the PA’s marketed related salary. Please help!!!

    Thanks
    Vumile

  9. JACKIE
    Posted October 27, 2011 at 8:45 am | Permalink

    Hi, i would like to know stock controller market related salary
    please help

  10. The HRadvice Team
    Posted November 2, 2011 at 2:27 pm | Permalink

    Market benchmarking is in most cases a relatively-complex matter requiring a fair amount of explanation to provide proper context. We do not provide individuals with this information because of the amount of input and time needed to do this benchmarking accurately. The input we need is for example location, industry, company size, size of region, reporting structure (i.e. what job does this one report to), number of subordinates (if any) and their job titles, job responsibilities (as would be contained in a job description or role outline) and target year (e.g. for today, for a pay year from May 2011 to April 2012, etc). The time needed is normally around an hour on an individual basis, and this time is currently billed at R900/hour + VAT. This is why it is companies not individuals who normally request this type of information. We at HR Advice look forward to being of service to you in other areas wherever possible.

  11. LUCIA
    Posted January 11, 2012 at 12:28 pm | Permalink

    Please advise, what is the market related salary for Bookkeepers? I have 3 years experience in Accounting.

  12. Michelle
    Posted January 18, 2012 at 9:25 am | Permalink

    I would like to know what the market related salaryu is for a PA to a Managing Director, they deal with personal asp[ects of the MD as well as staff salaries and oher confidetial information. They have a National Diploma and have been working for the company for 4 years.

  13. Sifiso
    Posted March 28, 2012 at 8:39 am | Permalink

    Hi

    I would like to know the market related salary for a grade control geologist.

  14. Garth Mackenzie
    Posted October 2, 2012 at 9:48 am | Permalink

    Hi,

    Could you please tell me what the market related salary is for a Graphic Designer with 10 years experience.

  15. NATLO
    Posted November 22, 2012 at 2:36 pm | Permalink

    please help,what is the market related salary for senior creditors clerk.

  16. Posted November 26, 2012 at 11:14 am | Permalink

    hi

    i have been offered a job as a PA to the MD to some international company and have 4 yrs experience so i would like to knw market relate salary for PAs

  17. Dee
    Posted April 8, 2013 at 5:04 pm | Permalink

    i am a Salvage claims assistant for a large insurance company, with 2 years experience, what is the market related salary i should expect?

  18. SAI
    Posted July 4, 2013 at 12:16 pm | Permalink

    Hi, I am an accounts payable clerk for an international Shipping Compamy with 2 years experience now. What is the market related salary I should expect?

  19. nathan isaacs
    Posted February 5, 2014 at 12:18 pm | Permalink

    I would like to knw wat da salary for checking controller wth 8years experience

  20. vusumuzi shangase
    Posted August 28, 2014 at 11:34 am | Permalink

    Hi, i would like to know a market related salary(hourly rate) for a 1)meeting minutes taker; 2) meeting minutes scriber; 3) meeting chairperson?

    The company is a multinational company that has branches in different provinces in South Africa and countries overseas. I am at the bottom of the hierachy and i report to the human resources manager. I have recently been informed that i am regarded as a freelancer.

    Thank you
    V Shangase

  21. Mpho Edwin Khena
    Posted December 18, 2014 at 11:28 am | Permalink

    Hi, Can you please tell me what is a market related salary for IT Infrastructure engineer with 8 years experience and Diploma in IT. Thanks

  22. Lebo
    Posted March 19, 2015 at 1:21 pm | Permalink

    Hi.Can you please tell me what is a market related salary for Local and Foreign creditors clerk with Ten years experience.Thanks

  23. Jeffrey
    Posted November 26, 2015 at 10:19 am | Permalink

    Hi

    Could you please assist. What is a benchmark annual rate for Senior Cashbook Clerk with diverse experience of approximately 5 years in Finance and dealing with duties exceeding the title e.g Financial Statements, Accruals, Consolidation of Financial Statements, clearing of take on accounts ect. and with the category of my title, i am also responsible for Sundry payments, Pettycash, Expense Claims, Bank Reconciliation, handling Petty cash for branches country wide etc.

  24. Hilton
    Posted February 3, 2016 at 2:33 pm | Permalink

    hi

    could you please tell me what is the benchmark for a Operation Manager for BRT bus company.

  25. Patricia
    Posted March 8, 2016 at 7:20 am | Permalink

    Hi

    Can someone tell me how much should a person who has a National Diploma in Internal Audit and has a 2 year experience as a Tax Administrator should be earning.

  26. Jerome
    Posted March 9, 2016 at 12:36 pm | Permalink

    Please can you advise the market related salary for an entry clerk.

    Thank you.

  27. Sapo
    Posted July 19, 2016 at 3:03 pm | Permalink

    I would like to know the salary for systems engineer with 7 years exp

  28. Gloria Mzulwini
    Posted November 17, 2016 at 2:43 pm | Permalink

    What is the market related salary for someone working as Health & Safety, Environment and Quality System Coordinator.

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