Asked by Juleny Degollado on Apr 24, 2024
Verified
What is a set of possible pay rates defined by a minimum, maximum, and midpoint of pay for employees holding a particular job?
A) pay grade
B) pay range
C) pay differential
D) compa-ratio
E) compensation differential
Pay Range
A set of possible pay rates defined by a minimum, maximum, and midpoint of pay for employees holding a particular job or a job within a particular pay grade.
Minimum Pay
The lowest legal salary that an employer can pay to an employee.
Maximum Pay
The highest salary or wage rate that an employee can earn in a specific job or position.
- Understand the configuration and reasoning of salary bands and their effect on organizational adaptability and staff advancement.
Verified Answer
Learning Objectives
- Understand the configuration and reasoning of salary bands and their effect on organizational adaptability and staff advancement.
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