United States Virginia change
Sri Lanka Breaking News
Sri Lanka parliament
vivalankaSri Lanka newsSri Lanka businessSri Lanka sportsSri Lanka technologySri Lanka travelSri Lanka videosSri Lanka eventssinhala newstamil newsSri Lanka business directory
vivalanka advertising
Stay Connected
Popular Searches
T20 World Cup
Sponsored Links
Sri Lanka Explorer
Video: News1st 26 வருடங்களாக பிரச்சினைகளுக்கு தீர்வில்லை - புத்தளத்தில் வாழும் வட பகுதி மக்கள் த...
Video: News1st  வவுனியா மாவட்ட ஒருங்கிணைப்புக் குழுக்கூட்டத்தில் பொருளாதார மத்திய நிலையம் தொடர்ப...
Video: කෝප් අර්බුදය ගැන ශ්‍රී ලංකා වාණිජ මණ්ඩලයේ හිටපු සභාපති ගෙන් කථානායකවරයාට විවෘත ලිපියක්
Video: News1st யாழ். மாணவர்களின் மரணம் தொடர்பில் பாராளுமன்றத்தில் டக்ளஸ் தேவானந்தா கருத்து
Video: News1st மாணவர்கள் உயிரிழப்பு: மேலதிக சுயாதீன விசாரணைகள் வேண்டுமா என்பதை அரசாங்கம் தீர்மான...
Video: News1st உணர்ச்சிகளுக்கு ஊக்கமளிப்பதால் ஏற்படும் பின் விளைவுகளை மனதில் நிறுத்தி செயற்பட வே...
Video: News1st Prime Time News 8pm Shakthi tv 25th Octomber 2016

Raises approved at SC research company

Oct 1, 2010 7:23:00 AM - thestate.com
The board overseeing a South Carolina company that fosters technology jobs approved Thursday increasing employees' pay by $290,000 in an effort to make their salaries more competitive.

The executive committee of the South Carolina Research Authority approved an average pay raise of 6.5 percent. Amounts will vary by employee, with some of the 240 getting nothing. Raises should come in November checks. Officials said they could not provide a breakdown, saying that's yet to be worked out.

Only chairman Bill Masters objected: "At a time when the state is going through extreme financial stress, I can't support it," said Gov. Mark Sanford's appointee.

But other members said the company is losing employees and prospects because of its low pay. Officials said 10 percent of employees left last year, an unusually high turnover rate for the high-tech industry.

Base salaries at the company, created through a 1983 state law and expanded in 2005 - over Sanford's objections - are at 25 percent of the national market average of high-tech industries, with bonuses boosting some pay to nearly 50 percent, according to a salary study by the Hay Group consulting firm. Officials would not give reporters copies of the study, saying the details could hurt the company's ability to compete.

USA, South Carolina: (Latest Stories)