Compensation Related Terms
Evaluation Criteria: The five job attributes that the University has identified to evaluate each University job classification for determining the appropriate compensation. The five evaluation criteria are knowledge and skills, judgment, breadth and scope of the role, impact and accountability and communication.
Level Profile: A system that describes the typical job classification attributes associated with each of nine pay levels. These typical attributes make up the five new University evaluation criteria. The level profile is used to determine the internal job relationships for purposes of compensation through an examination of each job classification’s key areas of responsibility in relation to the evaluation criteria.
Pay Level: Using the evaluation criteria, each job classification is assigned to one of nine pay levels based on the best fit of the job classification’s key areas of responsibility with the job factor attributes described in the level profile.
Benchmark Jobs: Representative job classifications that are used to build the compensation plan and pay structures. Benchmarks are jobs that are common in the labor market with a clear and consistent definition, are generally populated by a significant number of individuals both within the University and the external market, and for which reliable data is available from the market the University typically recruits from for that job classification.
Salary Market Data: Data taken from highly regarded and well established sources representing the different geographical markets, business sectors, and when relevant, internal market comparisons. Salary market data reflects where the University typically competes to recruit and retain staff in the benchmark jobs.
Market Ranges: Market ranges are based on salary market data for representative job classifications (benchmark jobs) within each pay level and structure, and define the minimum and maximum salary rates for a job.
Median Zone: Each median zone represents the central portion of a market range containing the majority of the midpoints (median) of the market data collected on benchmark jobs. The median zone serves a reference point for paying market competitive salaries.
Salary Structures: Each of two sets of market ranges that represent the salary market rates of benchmark jobs for pay levels 2-8.
Compensation Plan: The series of pay levels, market ranges, and median zones within which all job classifications are assigned for purposes of salary administration. The compensation plan recognizes internal job relationships and market pay differences among job classifications.