Policy 504 - Pay RangesSTATEMENTAll positions are assigned pay ranges based upon required competencies, job content, performance qualifications, internal equity considerations and external market conditions. Pay ranges are reviewed annually and adjusted as resources permit. Individual rates of pay must fall within the assigned pay range for the position. PROCEDUREFor each position a benchmark is targeted that establishes the midpoint of the pay range. Pay ranges are set in relation to the target pay or midpoint. The minimum of the range is the lowest salary the University will pay for the position. The maximum of the range reflects the highest salary the University will pay for the position, regardless of the qualifications or performance of the employee occupying the position. Salaries below the Minimum or above the Maximum Individuals whose salaries fall below a newly established or adjusted range minimum will be increased to the new minimum when resources permit. Incumbents whose salaries fall above the maximum are not entitled to receive increases in their base salary until their salaries fall within the range as the result of adjustments to the range. RESPONSIBILITYHuman Resources develops, administers, and interprets the University’s compensation policies for staff in consultation with University officers and governing bodies. RESOURCEContact Human Resources if you have questions about this policy or if you would like more information. Policy Approved: October 23, 1998 Last Updated: October 28, 1998 |
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