Malaysia Financial Blogger | Financial Freedom Ideas | imDavidLee.Com

What’s Your Expected Salary Increment for Year 2012?

Just wondering, what’s your annual increment like? Normally, the increment can range between 5-20% which depends very much on individual performance, size, nature, and culture of the company.

However, for those skilled employees, the wages are still linked to experience, productivity and demand. Most of the organisations are still willing to offer attractive remuneration packages for candidates equipped with the desired skills. Thus, highly skilled and productive employees are more likely to earn more.

Read More …

Will Salary Increment Brings Higher Tax?

A friend of mine who is Senior Manager of manufacturing industry recently got a pay rise of RM500, which increasing his monthly income to RM10,500 and putting him in a much higher tax bracket. He came back to me to ask whether should he take the pay rise?

Now, I would like to share with you the percentage of the increment that goes tax when the salary increase by RM500 per month.

Read More …

How to Calculate a Salary Increase?

I am wondering what’s your salary increment and bonus like? In my opinion, salary increment can be range in between 5-30% depending on your job performance while bonus commonly can be range in between 1-6 months. Is that true?

What about the benefits of your company? What are the working hours and workload like? For my company, I can get education allowance, medical allowances up to RM400 per financial year, and personal insurance claim.

About My Salary Increment From Year 2006 to 2010

As we known, Malaysia’s inflation rate hit was a bout 7-8%. It’s almost high mostly due to the increase in petrol price. If your salary does not increase by at least 8%, then you aren’t really getting an increase in income. Am I right?

This is the way to calculate a percentage of pay increase:

Read More …

Counter Offer During Job Confirmation?

Getting a job confirmation is an exciting experience but be careful not to sign your confirmation letter quickly without looking into all the important points. This is because there are terms and condition applied for your job confirmation, you have to check whether you will be subject to any salary increment as a confirmed employee? Will your job role and responsibility remain the same? What are the extra benefits you will enjoy as a confirmed employee?

For me, I have to give 3 months notice of resignation. It’s a way too long but if you are planning to stay longer at your current company then it should not be an issue. However, you still need to do counter offer during job confirmation. This is because it’s imperative to know that some employers would not wait until 3 months before a new employee joins. So, you need to think twice before making any decision.

If you very satisfy with your job and position then you can try to bargain more in order to suit your current needs. Besides, you need to do some salary survey and research to make sure that you will not underpaid. For me, I have fully prepared with the next move and planning to show something or offer to my company, which will bring more benefits to it.

My Sample of Job Confirmation Counter Proposal Letter

Read More …