It’s quite simple – I know someone who was making PKR 30,000/month in 2002 – can anyone tell me what that would be worth today in terms of equivalent salary?
Re: Salary Question!!! Please help!
A salary is based on the profession and the nature of work. What kind of profession was the person in, back that time? What was his work and working hours? What kind of company was that? Private firms and multinational companies pay different scales with the same work too.
Eg, a person, if was a teacher in 2002 and was earning 5,000 (that was the teaching scale around that time as far as I remember), may be earning around 12,000 to 15,000 & in some cases (with the engineering subjects and experience), 20 to 25,000 with the same profession in 2013!! and I am talking here about private schools. Not government.
Re: Salary Question!!! Please help!
A salary is based on the profession and the nature of work. What kind of profession was the person in, back that time? What was his work and working hours? What kind of company was that? Private firms and multinational companies pay different scales with the same work too.
Eg, a person, if was a teacher in 2002 and was earning 5,000 (that was the teaching scale around that time as far as I remember), may be earning around 12,000 to 15,000 & in some cases (with the engineering subjects and experience), 20 to 25,000 with the same profession in 2013!! and I am talking here about private schools. Not government.
The individual was working for an energy firm and was at an entry level position. My question is -- what wd the equivalent salary be today for someone working for the same org at the same position -- and I can always understand that this is going to be a guesstimate.
Re: Salary Question!!! Please help!
add at least 100% to the initial salary.
Re: Salary Question!!! Please help!
At least 80 k these days for some one making 30 k in 2002
Re: Salary Question!!! Please help!
USD was PK RS 52.00 back then, so he was making $576 dollars. If we assume that he should at least make the same dollars, he now needs to make PK RS 63,000. But because USD loses its value by half every 10 years, he needs to make PK RS 120,000 just to be equal to what he was making back then.
Re: Salary Question!!! Please help!
At least 80 k these days for some one making 30 k in 2002
Agreed, but if the guy is still working in the same company he wouldnt be earning more than 50-60000.
Re: Salary Question!!! Please help!
Agreed, but if the guy is still working in the same company he wouldnt be earning more than 50-60000.
He left the firm making about 70K in 2007 or 8.
Thanks everyone for your input -- as per my understanding, the equivalent salary is in the 70 -80K+ range.
Re: Salary Question!!! Please help!
He left the firm making about 70K in 2007 or 8.
Thanks everyone for your input -- as per my understanding, the equivalent salary is in the 70 -80K+ range.
That's an almost 18.5% increase each year until 2007. Pretty good.
The raise is dependent on so many factors, but if we base it on inflation, steady work performance, and not too much competition then most people in professional fields average about 10-15% raise each year over the long-run.