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Contract state "Salary offered based on Market value"

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Contract state "Salary offered based on Market value&qu

Postby SpringSummer » Sat, 04 Feb 2012 10:44 pm

I was given a contract with a training bond of 3 years after which the completion of the 2 years training my salary offered will be based on the current market value, market situation (economy health), my relevant technical skills and work result. Now the company mentioned they will call up other companies of the same field to check on the current market value one should be paid after the training. My question is if the company didn't pay me according to the market value even though I did exceptionally well in the training and achieved very good result and got good recommendations from my trainers, is the contract void ? I know it might not be that simple, but what should I do if the company didn't pay me accordingly to market value and despite many meetings and negotiations they felt the need to tie me down and pay me below the market value because I signed a bond. I wished to express no comment on which company but only it is in a specialized engineering field. What can an employee do in this case ?

Please advise. :(

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Postby sundaymorningstaple » Sat, 04 Feb 2012 11:57 pm

Market value is a subjective term. You may well have been technically perfect but a perfect arse as well. (just supposing, so don't get your dander up). So, there is a lot more that's going to be thrown into the equation. Inf fact. I would have never signed any kind of training bond with such an unknown reward. Market? Which market. Small bit players, or top tier? Too many variables. How are you going to gauge the economy? In the last three recessions, when all the nation was belabouring the economy, we had steady incomes, and increasing revenues?

My advice? Work your bond out and leave if you are not happy. If you break your bond, you may well possibly just jeopardize your future as well. But it's your life........

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