Your remuneration plan

How was your salary determined?

This may be a straightforward answer for some – My company has a defined remuneration plan, and I know exactly where my salary sits within my current band and what’s required to go beyond it.

But others may have a different answer – No idea.

If this is you, then your company probably doesn’t have a defined remuneration plan. Many don’t.

But this actually means you have a lot of influence around your salary.

Because if your salary was determined in a discretionary way by certain people, then this discretion can be applied again with a compelling proposal.

So if you don’t know how your salary was determined, it’s well worth your while to investigate if you’re leaving money on the table.

Here’s some good questions to consider if you feel your value isn’t being realised.

Are you currently receiving a competitive salary for your position?

How long has it been since you’ve received a pay rise?

Who is ultimately responsible for deciding your salary (and what are their motivations and incentives)?

Are you clearly generating way more value to the company than others on a similar salary?

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