How your Remuneration is Determined

1. INTRODUCTION

CSR staff are paid an annual salary, along with company superannuation contributions and annual leave loading. In the case of senior staff, the salary and benefits are combined as a remuneration package. The processes for determining annual salaries and fixed remuneration packages in CSR are the same. All references to "salary" in this document relate equally to both salary and remuneration package. Senior staff however, should also refer to the document "Guidelines for Packaging of Fixed Remuneration".

Salary decisions are based on market data, individual levels of contribution to the business and level of Individual salaries reflect personal skills, experience, level of responsibility and accountability - irrespective of gender.

People in seemingly similar jobs may be paid different salaries as they bring different levels of skills, experience and performance to the role.

Salaries are reviewed each year, with effect from 1 July.

2. THE BROAD PRINCIPLES

A common approach

CSR has a common approach to determining the salaries of staff in all businesses throughout Australia.

Generally people in similar jobs in different businesses and locations have similar salary levels. Differences may occur due to regional differences in salary markets, demand for particular skills and experience, or the individual differences mentioned previously - personal skills, experience in the role and performance.

Relationship to the "market"

CSR has to compete for people in the job market and, therefore, salaries are set at levels to be competitive within that market. The market is dynamic and, at any time, average CSR salaries may be higher or lower than the market depending on factors such as CSR's financial position, CSR's need for particular skills and knowledge relative to others, or the timing of