January 2016
Intermediate to advanced
480 pages
20h 58m
English
1 Explain the concept of pay structures and the five steps necessary to construct pay structures.
Compensation specialists develop pay structures based on five steps:
Deciding on the number of pay structures
Determining a market pay line
Defining pay grades
Calculating pay ranges for each pay grade
Evaluating the results
Most companies often establish more than one pay structure, depending on market rates and the company’s job structure.1 Common pay structures include exempt and nonexempt structures, pay structures based on job families, and pay structures based on geography. A large-scale survey estimates that approximately 37 percent of companies establish pay structures ...