What is a set of possible pay rates defined by a minimum, maximum, and midpoint of pay for employees holding a particular job?
A) pay grade
B) pay range
C) pay differential
D) compa-ratio
E) compensation differential

Question

Quizplus · Accepted Answer

A set of possible pay rates defined by a minimum, maximum, and midpoint of pay for employees holding a particular job is called a pay range. A pay grade is a grouping of jobs that are considered equivalent in terms of skill or difficulty, and is often associated with a salary range. A pay differential refers to the difference in pay between two employees or groups of employees. A compa-ratio is the comparison of an employee's actual pay rate to the midpoint of the pay range for their position. Compensation differential refers to the differences in pay between employees who hold different positions within the same organization.

What Is a Set of Possible Pay Rates Defined by a Minimum