How do I process a salary change?

Coni
Coni
  • Updated

Changes affecting salary, bonuses, allowances, benefits, job title, and job description require amending the employment agreement. You'll need to notify Oyster about Team Members' roles and compensation changes.

Important: Please note this process is for Team Members only, not for contractors. To process a salary change for a contractor, we would need a signed Amendment. 

 

Prerequisites

Oyster Support needs the following information to process the contract change:

  • Team Member Name
  • New Title (if applicable)
  • New Salary (please include currency - should be in Team Member currency)
  • Effective Date
  • Other Changes (bonus, holiday entitlement, etc.)

The cut-off for completing any salary change is as follows:

  • The 6th of the effective month for Indirect Team Members
  • The 10th of the effective month for Direct Team Members 

Important: You must inform us about the salary change by the end of the previous month.  This is to allow sufficient time for necessary amendments. Do not expect a salary change to be processed within the same month if informed near the cut-off dates. 


Steps

  • Log a request via Oyster Help Center
  • Fill up the fields, and select Contracts  Black arrow icon - Free black arrow iconsContract Change  Black arrow icon - Free black arrow iconsRole / Salary under the I need help with section. 
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  • Add the information mentioned under prerequisites in the description. 
  • Submit the request and wait for Support to reach back out to you. 

 

Reminders

Salary changes should be done:

  • Always be future-dated (following the cut-off periods).
  • For past-dated salary changes, the effective date can no longer be backdated. Instead, the pay difference will be reflected as a bonus via the platform on Payroll Changes (Are payroll adjustments taxable?)