Shanda (SNDA) has released its internal salaries and benefits adjustments for 2008, which says the company will raise the salaries of key staff by over 40%.
The adjustment program reportedly covers various contents, including salaries, bonuses, allowances, social insurance and company benefits. For salaries alone, the average increase rate for common employees is 20% and that for key staff is over 40%.
Zhang Yanmei, senior vice president of Shanda Group, told local media that the salary increase includes two parts. The lateral increase is in accordance with the performance of the company, the situation of the talent market and the consumer price index; and the vertical increase is decided by a combination of an employee's experience and project experience.
In addition, Shanda established a house and car fund for its directors and managers, and staff above the position of assistant director will gain stock options.
Zhang says these key staff contribute much to Shanda and they are the backbone for the continuous development of the company.