February 22, 2019

What new employees do not know about their first pay slip

Every first-time employee has aspirations and visions as to how they will spend their first month’s salary. Young employees are, however, often disappointed by the actual Rand amount which reaches their bank account – even after they believed they had negotiated a competitive remuneration package. “The majority of first-time employees are entirely focused on mastering the responsibilities of their new job and look forward to welcoming the receipt of their first salary into their bank accounts.However, many find themselves ill prepared when they realise that the total amount they are actually taking home differs substantially from the amount they assumed they would be getting,” says André Lindeque, consultant at leading wealth and financial advisory firm GTC. He attributes this to a lack of knowledge about their remuneration structures, regardless of the education or skills level of the new employee. “While...
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