There are various factors that affect an employee’s salary growth. These factors can be classified as either internal or external.
External factors are those that are beyond one’s control and include the cost of living, economic conditions, government control, labour unions, globalization, prevailing wage level, etc.
The internal factors are those that are within an employee’s control and they include the employee’s worth, job description, compensation policy, employer’s affordability, years of experience, and level of education among others.
This article mainly focuses on the average salary growth trend of members of 25 pension schemes from 2016 to 2019.
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