Which of the following 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 pay range 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 refers to a group of jobs that are similar in terms of content and value to an organization. Pay differentials refer to differences in pay between employees or groups of employees based on factors such as merit or seniority. Compa-ratio is a comparison of an employee's actual pay to the midpoint of the pay range for their job. Compensation differential refers to the difference in pay between employees who hold different jobs within an organization.

Which of the Following Is a Set of Possible Pay