How to Set a Salary Budget That Gets You the Person You Need

One of the questions clients ask us most often is "can we hire on this budget?" — and many times the most honest answer is that the number itself is not the problem. How the number was set is what keeps positions open. This article shares the way we actually think when we help clients set a budget before opening a role.

A budget that "almost reaches" costs more than one that does

Positions budgeted slightly below market can usually still be filled, but they take far longer — and all the while, the work piles onto the existing team, business opportunities refuse to wait, and people quietly burn out. Add those costs together and raising the budget to market from day one is usually cheaper than leaving the role open for months. (We cover the cost of a vacant position in a separate article.)

The true cost of one employee is more than the contract salary

When budgeting, think in total monthly cost, not base salary alone:

• Employer social security contributions — 5% of wages (calculated on a wage ceiling of 17,500 baht, so at most 875 baht per month)
• Provident fund at your company's contribution rate, if you have one
• Bonus, overtime, and other benefits genuinely tied to the role
• Ramp-up costs — training time and the months before a new hire is fully productive, which can be substantial for complex roles

The figure to compare against your budget is the annual sum of all of these.

How to check the market yourself, without guessing

Thailand has no single complete, free source of salary data. Three approaches genuinely work:

Read job ads for similar roles. Ads that disclose salary ranges are the freshest data you can gather yourself. Look at several in the same industry and note the ranges that repeat.

Listen to real candidates' numbers. The salary expectations of the people you interview are the market price, on that day, of exactly the kind of person you want. If every right candidate asks above your budget, that is your answer.

Read the signals from your own hiring. Unusually few on-target applications, or consecutive rejected offers, are usually symptoms of a below-market budget rather than a talent shortage.

When paying above market is worth it

Two situations justify paying above market: roles that directly and measurably generate revenue, and roles where the market has far fewer people than demand — where waiting for someone at a standard budget can mean waiting for quarters. For ordinary roles with adequate supply, paying at market with a good total package is enough.

The total package genuinely helps — within limits

Many candidates compare offers as a whole: health insurance, provident fund, bonus, work arrangements, and growth path. A well-designed package can offset a somewhat lower base — but it cannot bridge a gap that is too wide. Use the package as a complement, not a substitute for setting the base right.

Review your structure at least once a year

Salary markets move every year, especially in competitive functions. An annual review helps you keep your current people and set new-role budgets from today's reality rather than figures from two years ago.

Want the real numbers for the role you are about to open?

We see real numbers every day from active searches — both candidate expectations and the offers that actually close. Tell us about the role you are planning to open, and we will help you see where your budget sits in today's market. Talk to the Workwise team — no cost, no obligation.