The most common question asked by candidates when they are considering a new position is “What does the compensation look like?” They are often very surprised to learn the position is not paying what they were expecting, despite the big title and the size of the organization.
Most organizations have a defined compensation philosophy that determines where they will target compensation elements such as base pay, cash bonuses, long-term incentives and employee benefits. They typically have a process they use to level the position within this system. Understanding this methodology as used by your organization is extremely useful both for your own position and for those reporting to you.