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IT budgets increased in 2005, and managers are now reassessing salaries within their departments. Appropriate salary ranges are crucial for attracting and retaining the appropriate employees. Following a specific process enables IT managers to set salary ranges that can be defended when scrutinized by senior executives.
Use a Total Compensation Worksheet
One component of setting salaries is determining total compensation. Info-Tech has developed a tool for calculating the components of total compensation when provided with base salary: the "IT Salary Worksheet."
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