How To Create A Pay Structure From Scratch

[@segunakiode]

📌Remember to drop a comment and to subscribe. 📌 Do you need someone to talk to as regards your career aspirations? You can book a FREE 30-mins Career Clarity Session with Segun Akiode with this link: bit.ly/Call-Segun-Akiode

[@kunobriggs2595]

Hi my brother, please I need to speak to you urgently. I just booked a session, but will need to speak asap please.

[@segunakiode]

Kindly book a session using this link - bit.ly/Call-Segun-Akiode

[@hymanjali2692]

Could I ask for your guidance, I am currently working as a Compensation Analyst for a German aircraft manufacturer company. We are spreading our wings to other locations in Europe and We want to hire a Business Developer in Milan, Italy. First interviews will take place in the next few weeks. Currently, we have no employees there and don’t know which compensation package we can offer. How can I approach this scenario and build a pay structure Industry: Aviation and Aerospace Component Manufacturing Company size: 501-1,000 employees

[@honestthinker6623]

I am here from udemy, thank you

[@rozhennah2405]

Great video and great speaking voice! Could you explain the best resources that can be utilized to find your market peer group? Also on the best resources on how to gather the salary data from these market peer groups (ex: public information, financial reports, etc)? This is the area that students always have questions on.

[@segunakiode]

Great suggestion! I have two videos that addresses your question. How To Conduct A Salary Survey - kzbin.info/www/bejne/kJ6ql6V9ab-ppsk How to Interpret Salary Survey Data - kzbin.info/www/bejne/Y5-xfJdpZrSWmpY

[@palesakgwadi107]

I need to pay structure calculating basic salary, benefits, allowance and total package

[@stephenoluwasetire8702]

Thank you for sharing. Please, is it always necessary to have overlap between maximum of a grade and the minimum of the next grade?

[@segunakiode]

It is not necessary for pay grades to overlap. It depends on each organisation and their ability to manage pay grade dynamics.

[@vladanmihailovic4600]

So great video, well explained, very professional. Thank you !

[@segunakiode]

Glad it was helpful!

[@shanikaarnold6059]

Good stuff, Sir. Thank you for your contribution to my education and career.

[@segunakiode]

My pleasure!

[@christinecampita4267]

How do you compute for your mid to max? By percentage? What about gap per job level, percentage too?

[@segunakiode]

Yes, they are both a function for the range spread (which is usually expressed as a percentage).

[@amponsahappauagya6844]

Excellent. I just taught my shs 2 human resource management. You made it so practical

[@segunakiode]

Awesome! Glad it was valuable.

[@kenny1394]

How to determine the lowest and the highest salary

[@segunakiode]

It is part of salary design consideration. It is market and organizational determined.

[@sunotes1]

Thank you so much Sir, always pleasing to watch your sessions.

[@segunakiode]

Thank you for your kind words.

[@peterbarnabas3536]

How can one write a business proposal?

[@segunakiode]

You can get this online if you do a Google search. 😉

[@eleleifunanya5984]

Sir, I would like to know how to do a hourly rate structure

[@segunakiode]

Similar principle applies.

[@vivianok2000]

This was refreshing. Thank you for sharijg your knowledge

[@segunakiode]

Glad you enjoyed it!

[@francisoladele5898]

Great

[@joshuaoladele5506]

Thank you Segun for sharing. Firstly, using the band and the grade seems the same. I am thinking that the band will spread across a particular grade level (broadbanding). For example a grade 1 should have 3 to 5 bands i.e grade 1 - band 1, grade 1 - band 2, grade 1 band 3 and so on. You can clarify more on your thinking around this. Thanks boss.

[@segunakiode]

@Joshua Oladele - You are right on use of band and grade - it can be called a pay band or pay grade. The spread of the pay grade does not necessarily have to be more than one pay band for each job grade for it to be Broadbanding, it is more on the pay overlap and pay range spread. Hope my explanation is clearer?

[@joshuaoladele5506]

@@segunakiode Yes boss. Thanks a lot.

[@bethanysaga]

Keep these videos coming!! Thank you!!!

[@segunakiode]

Will do!

[@adeifedawodu2333]

Your videos are always refreshing to watch, well simplified 👍🏽

[@segunakiode]

@Adeife Dawodu I am so delighted you like them! 😊

[@chidiky8]

Thank you this was fantastic at simplifying what can seem quite daunting

[@segunakiode]

@Chidiky8 - Glad it was helpful!

[@ifeyinwaimmanuela7366]

I got value watching this...thank you so much

[@segunakiode]

Glad it was helpful!

[@kikeadio2363]

Thank you for sharing. Working on this presently.

[@segunakiode]

@Kikelolo Obatolu - glad you found the video valuable!

[@EmmanuelDaka-s2y]

The examples are not too clear

[@segunakiode]

What do you mean please?

[@ifeyinwaimmanuela7366]

Thank you so much I got value watching

[@segunakiode]

@Ifeyinwa Immanuela - I am glad you go value from the video. 🙂

[@_mynaturalcurls8086]

This video was amazing and so easy to follow!

[@segunakiode]

Thanks!

[@estheribkA]

Thank you for this. I will like to clarify if the grade level progressions can be in a reverse order based on the example you gave. E.g. job grade 1 for the analyst, and job grade 7 for the Managing Director.

[@segunakiode]

@Esther Adekoya - yes, it can be. What I used was a sample and not cast in stone at all. Ideally, every organisation has to customize their own Job Grading Structure to reflect their internal peculiarities.

[@careerswithbukola]

@@segunakiode thank you for this. According to the salaries in your examples, that means its not generic right? i can decide to have my grade A earn morn or below right?

[@segunakiode]

@@careerswithbukola yes please, the example was generic. You can decide the nomenclature to adopt for each job grade and pay grade. Hope that helps?

[@aguhamaka5685]

I love your videos. Always concise.

[@segunakiode]

Glad you like them!

[@kikelomoajayi2435]

Well done Sir, great value add

[@segunakiode]

Thanks!

[@francisoladele5898]

Great

[@segunakiode]

Thanks!

[@oladimejisodeinde7008]

Great video

[@segunakiode]

@Oladimeji Sodeinde - I am glad you enjoyed it 😊

[@japhetolabisi282]

Educative!

[@segunakiode]

@Japhet Olabisi, glad it was. Thank you for watching! 🙂

[@5seriees]

could you please walk us through the regression calculation used for the slary range

[@segunakiode]

Can you be clearer with your question please?

[@5seriees]

@@segunakiode for those of us who couldn't really get your explanation in the compensation masterclass. The mid point range, min and max range calculation for different salary/cadres

[@segunakiode]

@@5seriees Kindly watch this video to help - "How To Build A Salary Structure Using Excel: A Beginners Guide" - kzbin.info/www/bejne/pZ65nZ-Mhc9_Z9k

[@Nikannosneb]

That advert wasn't necessary and if needed, it could come at the end of the session or with a link. It made the video very Nigerian (Nollywood kind of thing). Nobody needs a sponsor to post on KZbin. Nice presentation though.

[@segunakiode]

@Benson Akinkugbe - thank you for the feedback.

[@lizzykivihi7277]

@@segunakiode i hope you get more sponsors

[@segunakiode]

@@lizzykivihi7277 thanks!