Posts tagged "Salary"

Marketing Managers: Education, Salary and Expected Growth

Marketing managers are the most creative minds who know how to make the best use of their limited resources and their innovative ideas to come with the finest advertisement and marketing campaigns that can take the sales of a company to a completely new level. All those people who work for this profile usually enjoy wonderful salaries which come with greater job security because it is quite an important position in an organization as this is one person who has to make the optimum utilization of available resources in order to come up with the most effective and versatile plans that are helpful in increasing sales.

This article brings to you complete information on the educational qualification requirements, expected salary and future prospects in context with this job. So in case you are planning to apply for such a job then make sure that you have complete detail before sending your application.

Marketing Manager: Roles and Responsibilities

Before going further, let us know what all roles and responsibilities this profile brings along.

  • He is the one who is responsible for analyzing the complete demand for products and services that are offered by the company.
  • He also researches on identifying the best markets where these offerings can be sold effectively.
  • He is also responsible for coming up with ideas for creating products that can meet the unattended demands of the customers. He needs to take into account every small detail concerned with demographics and geographical locations.
  • He needs to design the complete marketing campaign in order to launch and promote the company and its products.
  • He needs to perform tasks that are assigned to him by the company for which he works.

Marketing Manager: Educational Qualifications

If you desire to grab the job of Marketing Manager in some good company then you need to make sure that you have the right education which can help you get the job with ease. Here are some educational needs that you need to fulfill:

  • You need to have a Bachelor’s degree in a business-related field.
  • You can also be educated in some of the fields which include economics, business law, mathematics etc. This kind of combination in education will give you better standing in front of your competitors as you will be able to deal with various other everyday problems like dealing with numbers or understanding tactics to have better SEO for your website and various other things.
  • You can have a Master’s degree in some business related course.
  • Having internship or projects in marketing can also help you have better opportunities for getting selected.

Marketing Manager: Salary

As per Bureau of Labor Statistics reports, the average annual salary for the position of was around $119,480 in May 2012. This is quite high than the pay which is earned by advertising and promotions managers.

  • The lowest pay for this profile is around $62,650 per year which is earned by 10% of the people working at this position.
  • The highest pay is around $187,200 annually for the candidates working at this post which are around 10% of the total numbers.

The reasons for this kind of fluctuation in the salaries are the state in which a person is working and the company with which the person is employed. It also includes the work experience and educational qualifications of a person as they help in having better pays.

Expected Growth in Future

It is expected that by 2022, the employment of marketing managers is going to grow about 13%. This is according to the BLS report. As mentioned above, this job ranks above other jobs in terms of security as this is one position which has significant role to play in order to generate revenue for the company. For years to come, companies are going to need experienced and creative managers who can come up with amazing ideas to promote their offerings and help them generate more and more money with these innovative ideas and wonderful understanding of markets and trends.

For sure, all this information is going to be extremely helpful in finding the right kind of job for yourself. Being a marketing manager is fun and with these details you can have more knowledge about this profile.

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Posted by Hrformats - April 11, 2015 at 12:41 PM

Categories: Salary Management   Tags: , ,

Sales Manager Job: Salary in Different Industries and Locations

The profile of sales manager is considered to be a very important position in an organization. This is so because he is one person who is responsible for making sales happen. He is the one who leads the team of salesperson and coordinates with other departments to make sure that company sales are on the rise and product offerings are delivered to the customers. They have a critical role to play because of which they are offered quite handsome salaries. The salaries that they get depend on various factors like industries and the location in which they have been placed.

This article brings complete information concerning the salary of the sales manager which has been categorized on the basis of industry, location and the future prospects of this job profile. If you are planning to apply for this job profile then you must have complete information on how much salary you will be getting.

Average Salary for Sales Manager

As per the Bureau of Labor Statistics, the average annual salary of a person working on the profile of sales managers is approximately $105,260 in May of 2012. The highest and the lowest paid 10% earned more than $187,200 and less than $52,950 respectively, which is an indication that there is quite a lot of fluctuation in the profile of sales manager. There are various reasons for such kind of fluctuation which include reasons such as the state in which the individual is working, his educational background, the size of the company with which he is working, his experience in the field and also the industry in which he is working. All these factors contribute in the package of a candidate.

Salary of Sales Manager as per Industry

it is very important to study the status of salary as per industry. Almost all the industries require sales managers but one industry which pays them with the best of the remunerations is the stocks and commodities exchange sector. They are paid an average salary of $216,300 per year. The next best paying industry is the securities and commodities contracts intermediation and brokerage industry. In this sector, they are paid about $191,220 annually. In other industries, the average package for this profile is about $182,340 per year. They are paid around $171,520 per year in the investment pools and funds industry. In the apparel, piece goods and notions merchants industry, they are given a remuneration of around $165,110 annually.

Salary for Sales Manager as per Location

Location is one of the most important factors which cause variation in salaries of a sales manager. The salary package of this profile is highly dependent on the state in which he is placed. As per Bureau of Labor Statistics, the topmost five states that are known for making highest payments to sales manager are the following:

  • New York, which pays around $174,210
  • Delaware, where an average salary of a sales manager is $162,060
  • Massachusetts, which pays approximately $139,000 to sales manager
  • New Jersey, which pays $138,200
  • Rhode Island, which pays $134,610 annually to sales manager.

Future Prospects of Sales Manager

Before applying for this profile, you must know how bright the future of this profile is. As per Bureau of Labor Statistics, the sales manager jobs will increase at a rate of 8% from 2012 and 2022 which is quite the same for all the industries. This profile is one of the very important positions in the company and the job security will depend on the performance of the company which is employing the candidate. The success or failure of the company will determine the job security. As this is quite an important and essential position, the chances that it will be contracted out are least. The future of this profile is quite promising. Though there is quite a lot of competition but it is a safe job.

How to Get Hired?

There are lots of people applying for this job. As the competition is intense, you need some tips to help you get hired for this profile.

  • To make your mark, you can have a relevant Master’s degree in a good subject which can help you have more points.
  • You can even have a recommendation letter from your previous employee talking about your performance or excellence at work.
  • Highlight your experience in your resume in a smart and appealing way by talking about all the roles and responsibilities.

Keep these points in mind and surely you will stand apart. Despite high levels of competition, you will be able to get that job.

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Posted by Hrformats - April 10, 2015 at 7:45 AM

Categories: Salary Management   Tags: ,

HR Manager: Salary and Growth as Per Industry and Location

HR Manager is an important profile in every organization. This is the person who is responsible for managing the workforce details, their salary and everything else that is related with their working, promotion, transfers etc. HR Manager is needed in all kinds of industries and businesses and there are lots of variations in the salary depending upon the place where he is working. The present and future of this job are quite promising without any doubt. With time there will be an increase in the demand for more and more people for this profile. Hence, it is very important to know that how much salary is offered to HR Managers in different industries and various locations before sending an application for this job.

This article brings to you concise but complete information concerning remuneration paid to HR managers along with variations and fluctuations. This article also takes into account the future growth aspects of this profile to bring best clarity in terms of how beneficial it is for a person to apply for this position.

Average Salary

The average salary of HR managers across all kinds of industries was around $99,720 per year in the month of May 2012, as per the reports of Bureau of Labor Statistics. Here is a categorization which helped in reaching this average value.

  • The ones who worked for smaller companies and did not possess much of an experience formed the lower class which earned less than $59,020.
  • The ones who had a Master’s Degree in Human Resource along with valuable experience in the same field formed the highest paid category of 10% employees which summed to an average value of $173,140 per year.

These salaries were made by the individuals who worked for full time during the regular business hours. It also included 30% of all those HR Managers who worked for more than 40 hours per week on a continuous basis.

Salary of HR Manager as per Industry

This is another very important categorization of salary. The amount of earnings by an HR Manager also depends upon the industry in which he or she is working. As per the reports of Bureau of Labor Statistics, the average salaries have been bifurcated as given below:

  • Those who were involved in management of companies along with general working earned an annual average salary of $112,550.
  • The professional HR Managers, technical and scientific service providers earned an amount of $112,210 every year.
  • Those in manufacturing industries earned $97,930 every year.
  • Those in government sector made an amount of $92,020 annually.
  • Those who are placed with healthcare industries earned $85,870 per year.

Salary as per Location

This is another factor which influences the salary of an HR manager. Having employed in some states helps you earn more money that the other. Here are some of the locations where individuals at this position earn far better than the ones who stay in other parts of the country.

  • New Jersey is the location with highest salaries. The annual salary in this area is approximately $137,850.
  • Delaware ranks the second highest paying state with $132,260 as the average remuneration.
  • Pennsylvania pays on an average $124,590 to individuals on this profile.
  • New York pays $124,280 annually for the similar position.

Future Aspects of Growth of HR Managers

This is one of the most important positions in an organization. It is expected that with time the demand for these professionals is going to increase. The expected increase by 2022 is around 13% which is an above average increase compared to other jobs. Hence, the success of those working on the post will depend totally on the growth of the company along with the importance and growth of HR department in the organization. You may have to face quite a lot of competition if you wish to apply for this job as more and more people are becoming interested in this amazing position. But to make a difference, you need to have wonderful understanding of employment laws along with a Master’s degree and some experience which would add on to your resume. The job security is totally dependent upon your performance and your company’s working.

So all these details bring to you complete information on the salaries and expected growth of this position in different industries. Hence, if you wish to apply for this profile, you can very smartly select the location and industry to make sure that you make the best earnings possible.

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Posted by Hrformats - April 9, 2015 at 12:06 PM

Categories: HR   Tags: ,

Sample of Professional Employee Promotion Letter with Salary Increase

Promotion at job is one thing that every employee dreams of and it becomes all the more rewarding when it brings along a great salary hike. This is one of the best news for any employee and hence it must be shared with him in a formal way by writing a promotion letter including the mention of salary increase.

Here is the template format of employee promotion letter with salary increase to help you write a professional letter without missing on the important information. Keep it polite and encouraging for a perfect positive feel.

Format of Professional Employee Promotion Letter with Salary Increase

Date: 17th, December, 2014

Ms. Helen Grace

52, Richmond Street

New York

Dear Ms. Grace,

After reviewing your performance during the last year, we are happy to inform you that the company is promoting you to the post of Deputy Manager, Marketing Department.

We are really impressed with your ability to meet targets and complete all the projects on time. We are very sure that you will make the best use of this opportunity which you have been offered to you and take our organization to new heights with your dedication, hard work and commitment. We are very hopeful that you will keep delivering the best performance like you have been doing in the past.

We are also happy to announce a salary increase along with your promotion. An exclusive letter containing the details of your salary revision will be sent to you soon.

Wishing you all the best. We are hopeful that you will justify company’s decision.

For AMC Technologies,

George Meyers

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Posted by Hrformats - December 18, 2014 at 10:58 AM

Categories: Letters   Tags: , ,

10 Best Tips For The Successful Salary Negotiation

10 Best Tips For Successful Salary Negotiation.

I have read many interview books most important of which was ‘Job Search Guidebook’ by Alison Doyle, which I believe is a must read for every professional who wants to master the art of interviewing but the most intelligent book I read on salary negotiations was ‘Get more money on your next job’ by Lee Miller which beautifully takes you through the entire process of negotiation. It teaches you to ascertaining your true worth, equips you with the tools to understand the mind of your recruiter and trains you to get what you are worth.

Yes, what you are worth because, you will perform your best only if your material and emotional desires are met and salary is the right salary is the first, foremost and biggest material desire any professional work for. I mean who can perform when every time his head carries,”Why am I underpaid?“. But how to get the best out of the negotiation? What to say and what not to say? What should I know before entering into a negotiation phase? All these questions will be answered in a while but before that I just want to give one advice. Don’t ever drop the towel even before trying.

Negotiation is nothing but an art of speaking which gets you the best you deserve so if 5 minutes of additional discussion gets you extra 10-15%, I say, why not?

First understand “5 things that you should never do during negotiation”:

  • Don’t compare your salary with the people you know in other fields as every field, industry and position offers a different range of salary.
  • Don’t be the first one to talk about the salary. Let the recruiter make the offer first.
  • Never quote an expected salary range during interview because you may be under quoting or over quoting both of which can go negative for you.
  • Don’t beg by telling how much your financial requirements are or have increased to the recruiter.
  • Never lie during negotiation as you would lose your creditworthiness.

10 Best tips for the successful salary negotiation

1. Research. Research through various salary survey sites and people you know in your field to understand what a person with your kind of experience in your industry should be worth. Also research what is the percentage of salary hike given under current economic conditions in your sector. If you are asking for a 25% raise in IT sector, whereas the current situation allows only 15% raise, you would lose certainly as it is an unrealistic demand.

2. Support your recruiter. Recruiter is the person who is mediating between you and the signing authority. That means that he has to sell your candidature to the hiring head or who ever the authority so he would need strong justifications as to why a particular salary must be offered to a candidate. So never enter the negotiation room with a mindset that recruiter is against you. Give him what he would need to win your case.

3. Be flexible.One thing is for sure, that whatever amount you would be carrying in your head, won’t be give. You would certainly have to compromise but the trick is to know how much you are ready to compromise. Once you know that you are ready to negotiate.

4. Prove why you deserve the best. Let your experience, skills and number speak for you. Give the facts. Tell your recruiter what you achieved in your last job and what you expect to achieve in the new job. Show him the ROI on your hiring.

5. Show your excitement about joining the company. Let your recruiter know that you are extremely excited about the position and you can’t wait bringing so many new ideas on board for company’s benefit and the only thing in your way is compensation. Recruiter would do his best to satisfy you in his capacity.

6. Understand the complete package structure first.Sometimes there are elements in the package structure which look attractive like stock options but it’s extremely important to quantify them or in simple words evaluate the monetary value and understand the implication on overall cash income or their future investment value. There are some components which company is willing to give easily and some are difficult to get. Identify them. If there is an annual performance bonus component up to 15%, try to get the exact percentage given in last 3 years.

7. Always negotiate on other perks. Lets say you are offered $50000 with 10 vacation days and $10000 as joining bonus. The first counter offer you make should be $55000 with $15000 as joining bonus with 5 extra vacation days. In most cases, the company will offer $52000 with $15000 as joining bonus without extra vacation days. Grab it and run.

8. If the offer does not come up to your expectations, negotiate on a mid term salary raise and not as per yearly raise cycle. Definitely, there will be certain achievement or review based on some performance parameters, accept it, if its reasonable and get it in writing.

9. Always, during the entire conversation use the words like ‘we’ or ‘us’. It shows to the recruiter that you have already made yourself a part of the company and you are trying to work it hard along with the recruiter so it’s in everyone’s best interest. We always like to be good and fair for our own people so why won’t recruiter be good to you, if thinks you are already a part of them. Asking him, “what he would do, if he were in your shoes?” would really turn the table.

10. Take your time to decide. Request the recruiter for some time to think it over and decide. Recruiter would always want you to decline rather than take more time. If he asks ‘why?’, you can say ‘I can’t wait to join but I am a bit disappointed with the salary offered because……………” tell the justifiable reasons and then ask for the best they can do. I assure you that the recruiter would come back with the best they can for that position.

Remember one important point, assuming that you are evaluating two offers from two companies, one of which has employee friendly policies or offers higher growth potential in long term and the other one is offering more money, don’t run after the extra money as that’s a trap to keep you away from mental peace. Without mentioning a name, I can remember several examples, when the candidate left a bigger company just for a few thousands extra and repented later. You can make that extra amount by your performance but you won’t be able to bring the career growth and peace that the other company was offering and you declined. So choose wisely.

I have attached here 10 Best and easy tips tricks to crack an interview in PDF.

 

Click Here To Download 10 Best and easy tips and tricks to crack an interview

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Posted by Hrformats - October 20, 2012 at 10:48 AM

Categories: HR   Tags: , , ,

Download Pay Slip or Salary Slip Format

I have Attached Pay Slip or Salary Slip Format in Excel.

COMPANY NAME
ADDRESS
Salary slip for the month of : Mar-09 Designation : Executive
TKT NO. : 10019 DATE OF JOINING : 3/1/2002
NAME : W PF NO. : MH/xxxxx/117
DAYS PAID : 31 E.S.I. NO. : 0
EARNINGS AMOUNT RS. DEDUCTIONS AMOUNT RS.
BASIC 11700.00 PROVIDENT FUND 1404.00
HRA 4244.00 ESIC 0.00
SPECIAL ALW. 0.00 PROFESSIONAL TAX 200.00
CONVEYANCE ALW. 800.00 INCOME TAX 0.00
EDUCATION ALW. 200.00 BANK LOAN 0.00
MEDICAL ALW. 1250.00 SALARY ADV. 0.00
MOBILE ALW. 0.00 MOBILE DEDU. 0.00
LTA 1500.00 OTHER DEDU. 0.00
MANAGEMENT ALW. 0.00 MLWF 0.00
TOTAL EARNINGS RS. 19694.00 TOTAL DEDUCTIONS RS. 1604.00
NET PAY : 18090.00

 

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Posted by Hrformats - August 30, 2012 at 5:42 AM

Categories: HR   Tags: , ,

Salary Survey Benchmarking Format

 I have Attached Salary Survey Benchmarking

Company Name

Salary Analysis Template

This form will assist you with analyzing salary information you have obtained through salary surveys or other methods.  Fill out the appropriate information for your business and your competitors in order to compare and analyze differences in the various categories.

 

Salary Comparison Sheet 1

Our Organization

Local 1

Local 2

Industry 1

Industry 2

Position Title
Base Salary
Benefits (check if employer provides)
Medical
Bonus
Accommodation
Life Insurance
Other (specify)
Stock Options
Retirement Benefits
Perks
Additional Benefits

 

 

 

Salary Comparison Sheet 2

Our Organization

Local 1

Local 2

Industry 1

Industry 2

Position Title
Base Salary
Benefits (check if employer provides)
Medical
Bonus
Accommodation
Life Insurance
Other (specify)
Stock Options
Retirement Benefits
Perks
Additional Benefits

 

Click Here To Download Salary Survey Benchmarking

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Posted by Hrformats - August 7, 2012 at 6:01 AM

Categories: HR   Tags: , ,

Salary Slabs for IT Professionals

 I have Attached Salary Slabs for IT Professionals

Median Salary by Job – City: Bangalore (India)

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Currency: INR  |  Updated: 5/19/2007  |  Individuals reporting: 6,379

 

Median Salary by Years Experience – City: Bangalore (India)

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Currency: INR  |  Updated: 5/19/2007  |  Individuals reporting: 6,378

 

Median Salary by Employer Type – City: Bangalore (India)

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Currency: INR  |  Updated: 5/19/2007  |  Individuals reporting: 6,373

 

 

Median Salary by Employer Name – City: Bangalore (India)

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Currency: INR  |  Updated: 5/28/2007  |  Individuals reporting: 3,744

 

 

 

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Posted by Hrformats - August 3, 2012 at 9:10 AM

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Salary Break Up in Excel Sheet

I have attached standard format for break ups in salary.

NAME OF THE COMPANY
INCREMENT/ PROMOTION DETAILS AS ON _______
Emp. Name : Mr. Emp. Code :
Designation : Sr. Executive Department :
Promoted / Redesignated as : NA Transfer (if applicable)
From To
NA NA
SALARY – OUT OF ESI  (Rs./Month)
Monthly Earnings Deductions
Basic & DA 7846 PF 780
HRA 3139 PT 150
TA 800
CEA 200
Uniform Allowance 500
Sub Total 12485  (C) 930
Other Allowance 5044
Gross Earnings(A) 17529 Take Home(A-C) 16599
Other Benefits TCC (A+B) TCC (P.A.)
PF 780
Bonus 654
19,616 235,392
Medical 654
(B) 2087
Gratuity as per Act: 4608
Gross Emoluments : TCC TCC + GRAT.
235392 240000

 

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Posted by Hrformats - July 11, 2012 at 5:51 AM

Categories: HR   Tags: ,

Sample Request Letter for Salary Increment

I have attached Sample Request Letter for Salary Increment.

 

To: Mr./ Ms. XYZ (Dept. Manager)
Copy To: HR
From: ABC (Designation)
Date: …………
Subject: Salary Raise Request

 

 

 

 

 

 

 

Dear Sir / Ma’m,

I appreciate the opportunity I have had during the last four years of serving as a vital member of the technical support team. This past year has been an especially challenging business environment, but my accomplishments have continued to build on my earlier achievements, and I have high expectations for this success to continue for the foreseeable future.

Here are some highlights of how I have helped the department and the company in the past year / last four years:

  • Developed a proposal that brought a client from the brink of terminating our IT consulting services to renewing at a higher level than ever before, adding a net gain of $500,000.
  • Partnered with several team members to attract new consulting project opportunities
    totalling $1.2 million.
  • Conceptualized, proposed, and produced a research study that serves as a valuable tool for our industry
  • Served on the team of two company-wide task forces that identified redundancies, cut costs, and save the company several million dollars.
  • Participated in and attended four professional meetings, increasing the visibility of the company within the industry.
  • Mentored and trained three interns who handled many routine functions within the department, freeing up team members to focus on new client development and current client retention.
  • Proposed new projects, and completed all new tasks and assignments when requested to do so.

I look forward to continuing to play a key role within the department, however given all of my accomplishments so far, my salary is still below industry averages. I request you to look into the matter at the earliest and I am confident that you will offer a salary increase that reflects these issues and my standing in the department.

 

Signature

(Your Name)

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Posted by Hrformats - June 26, 2012 at 5:57 AM

Categories: HR   Tags: , , ,

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