Salary Structure

Salary structure refers to the framework an organization uses to determine how much it pays its employees. It includes different pay levels for various jobs based on factors like experience, education, and market rates. Typically, it consists of salary grades or bands, each representing a range of pay for specific roles. Elements can also include bonuses, benefits, and allowances. This system ensures fair compensation, aligns with company policies, and helps attract and retain talent while maintaining budget control. Understanding salary structure can empower employees to negotiate and make informed career decisions.