Market Pricing Broad Band Compensation System
What does this mean to you?
Under the market pricing broad band compensation system, many current elements of our program remain the same, including:
- Your title
- Your reporting relationship
- Your current salary
- The opportunity for pay advancement, including an annual merit increase
However, there have been some changes to the compensation system, such as:
- Grade levels have been eliminated.
- Each job has been assigned to one of four bands.
- All jobs assigned to a band have Market Reference Points (MRPs) and ranges that replace the old salary ranges and midpoints.