How to Upload Your 2024 Variable Pay

As strategic partners, you count on us to have good data.

Annually, we produce a report outlining the median and average variable pay percentages of base salary for several 130 benchmark positions commonly found in your industry and asset size. These positions are listed in four sections: non-exempt, Exempt, Executive, and C-suite.

In order to produce this report, we count on clients to upload their previous year's variable payout as soon as possible the following year.

The amount of variable pay to enter for your employees would be the total amount of cash paid out beyond their wages in the previous year as of 12/31.

Variable pay amounts reflect bonuses, commissions, and any incentives based on performance.

As an added benefit, once you upload variable pay information, your system will produce 3 additional reports allowing you to analyze your variable pay trends for the company overall, by department, and by position. You can also produce Total Cash Comp reports for each employee.

How do I quickly import this data?

The fastest way to import your variable pay is:

Click Importer in the main nav
Click the green Actions button and select Download Import Ready CSV
Open up the CSV document and locate your current Variable Pay amounts in Column U
Update the dollar amounts in Column U
Save this CSV
Return to the Importer page in BalancedComp
Click the green Actions button and select Import New CSV
Upload your recently saved CSV and follow the simple wizard.

Since you are starting with an Import Ready CSV, you will not encounter any issues.

If you have questions about what constitutes incentive pay or would like assistance importing, please submit a support ticket by using the in-app bot in the bottom right corner of the app or by emailing support@balancedcomp.com.