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Staff Salary Plan Glossary

Benchmark
Term frequently used in compensation to refer to a job, or group of jobs, used to make pay comparisons with comparable jobs outside the organization.

 
Compensable Factor
Any factor used to establish a job's value.

 
Exempt
A term to describe jobs or employees who work in an executive, administrative or managerial capacity, and who are not subject to the provisions of the of the Fair Labor Standards Act with respect to minimum wage and overtime.

 
Job Analysis
A systematic procedure for gathering information about each job; it identifies tasks, how tasks are accomplished, the objectives and demands of the job, the relationship among jobs etc.

 
Job Description
A summary of the key features of a job and of the credentials required to perform the job. Save the Job Description template (doc).

 
Job Evaluation
A formal process, the outcome of which determines the relative value of jobs within the organization. The end product of job evaluation is the assignment of jobs to salary pay grades.

 
Job Family
Group of jobs which have related functional responsibilities and are ranked in a hierarchy, from the least to most complex with regards to skills, knowledge and responsibilities (see Job Family Descriptions on left of Salary Administration page).

 
Market Pricing
A process that determines salary ranges by surveying the market place in which we compete for employees.

 
Maximum
The ceiling or highest salary paid to a job incumbent, which is also the top of the salary range.

 
Midpoint
Also known as the "market rate," which is the average rate that is paid for similar positions in the market place. It also represents the salary level for individuals who have extensive experience and proficiency in the job.

 
Minimum
The lowest salary paid to a job incumbent, which is also the bottom of the salary range.

 
Nonexempt
A term used to describe jobs or employees who are subject to the provisions of the Fair Labor Standards Act with respect to minimum wage and overtime.

 
Salary Grade
One of the levels into which jobs with the same or similar value are grouped for pay purposes. All jobs in a salary grade have the same salary range: Minimum, Midpoint, and Maximum (see Salary Administration).

 
Salary Increase Guidelines
An annually published increase schedule (see Salary Administration) that establishes the budget for merit increases.

 
Total Compensation
The term used to describe all compensation, salary, and fringe benefits paid to an employee.