An example of how this tool can be used:
It appears the upper echelon of Lab management has taken rather good care of itself over the past decade.
In 1996 the gap in "Average New Salary" between and SSM-3 and an SSM-4 was $15,000. By 2005 the gap had
grown to $25,000. Also, SSM-4s, SSM-5s...and in particular SSM-6s received significantly greater pay
raises over time. The cummulative raise for SSM-1s, SSM-2s and SSM-3s from 1996 to 2005 was
49.0%, 47.2% and 48.9% respectively. For SSM-4s, SSM-5s and SSM-6s the cummulative raise was
51.4%, 49.9% and 55.5% respectively. This means that between 1996 and 2005, SSM-6 raises were a
cummulative 8.3% (55.5% - 47.2% = 8.3%) higher than SSM-2 raises over the same period.
This constitutes a 17.6% annual raise differential (8.3% / 47.2% - 17.6%). In dollars, this means
that if you were an SSM-2 earning 50,000 in 1995 and received the average pay raises that SSM-2s
received between 1996 and 2005, your salary in 2005 would be $79,230. But if you were an SSM-6
earning $50,000 in 1995, and received the average pay raises received by SSM-6s between 1996 and 2005,
your salary in 2005 would be $85,732. This is nearly $14,000 more per year you'd be earning simply
because of your SSM classification, and because of the associated 17.6% raise advantage (differential)
SSM-6s received between 1996 and 2005, relative to SSM-2s.
| Click Here for data in xls format |
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Page last updated 04 December 2005