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'Base plus Super and Benefits'... But What Benefits?

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by Mark Smith

over 3 years ago

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The consultants at people2people are tasked by some of Australia's best companies to find the best available talent. When consulting with their clients, one of the most important discussions is the conversation around remuneration. It's pretty clear how to quantify the base salary and the superannuation component. However, bonuses and commissions are harder to quantify and can be the most important component of a salary package. 

Salary calculator tool

One of the value added tools people2people utilises is an online collaborative remuneration benchmarking tool called salarysiite. It is built on the concept of sharing and collaborating, where people can provide their salary and package information anonymously and then have this benchmarked. To date, we have over 103,000 contributions, and this provides us with some very interesting statistics, particularly those regarding benefits.

Around 44% of employees in financial services receive a bonus or commission. Surprisingly,  the information technology (IT) and internet sector has up to 50% of people receiving a commission or bonus. But what about the benefits? What are the top three benefits people receive in financial services? The answer may surprise you.

  1. Flexible working hours 19%
  2. Company paid training 18%
  3. Paid parental leave 17%

In the IT and internet sector, the top three were;

  1. Mobile phone / mobile phone allowance 36%
  2. Car parking 27%
  3. Flexible working hours 22%

When you are hiring your next team member or looking for a new role, benchmark the salary and consider the benefits you offer first by visiting www.salarysiite.com.au.

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