Table of Contents
SALARY RANGES#
Salary Ranges are used to hold the possible minimum, midpoint, and maximum salary that may be applied to a job.
Salary Range data is maintained on the P2K_SA_SALARY_RANGES and P2K_SA_SALARY_RANGE_DETAILS tables
- Range
- This field holds the user-created code that uniquely identifies the range being created. These range codes may or may not be descriptive.
- Range Method
- This field identifies the method that will be used to calculate the range.Two methods are supported:
- By Fixed Value is used when the range will be hard coded with flat dollar amounts. i.e. $40,000 minimum, $45,000 midpoint, $50,000 maximum.
- By Formula is used when the range for the job will be calculated based on a certain dollar amount per “point” above a base salary. The value of the base salary, plus the dollar value of the points evaluated by job, becomes the midpoint of the range. Maximum and minimum amounts for the range are based on a percentage of this midpoint.
- Entity
- You may associate the range code to a specific entity within this field.
- Description
- You may use this field to enter a description of the range code created.
- Rate Basis
- This field defines the time period (hour, day, week, year) to be used with the salary range defined. E.G. $40,000 /YR or $16/HR.
- Matrix
- This field allows you to associate a salary matrix with the salary range.
Fixed Range Values#
- Range Minimum
- If the salary range is defined by a fixed range, this field identifies the minimum value of that range.
- Range Midpoint
- If the salary range is defined by a fixed range, this field identifies the midpoint value of that range.
- Range Maximum
- If the salary range is defined by a fixed range, this field identifies the maximum value of that range.
- Modify Salary Range
- Once you have identified the amount, press the button in order to administer the range modification selected. The results will be seen immediately. Once the form has been saved, the results will be made permanent.
Range Formula#
- Base Amount
- If the salary range is defined by a formula, this field holds the base value to be used for the range rule.
Range Midpoint = Base Amount + (Dollar Per Point x Evaluated Points).
- Dollar Per Point
- If the salary range is defined by a formula, this field holds the dollars “earned” per point awarded at the job level.
- Minimum Percent
- If the salary range is defined by a formula, this field holds the percent that will be used to calculate the minimum value of the range. The formula used to calculate the minimum value of the range is as follows:
Range Min = (Base Amount + (Dollar Per Point x Evaluated Points)) x Minimum %
- Maximum Percent
- If the salary range is defined by a formula, this field holds the percent that will be used to calculate the maximum value of the range. The formula used to calculate the maximum value of the range is as follows:
Range Max =(Base Amount + (Dollar Per Point x Evaluated Points)) x Maximum %
The Evaluated Points used in the above formulas are maintained on the Evaluate Jobs and Positions (ISEV) form for applicable jobs and positions.
Range Modification#
- Range Minimum
- If the salary range is defined by a fixed range, this field identifies the minimum value of that range.
