Term
| when deciding a pay level, the employer mught decide to pay at different levels: |
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Definition
at the same level as thee median;
at the low end level;
at the high end level. |
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Term
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Definition
defines the difference in pay between an entry-level accountant and an entry-level assembler, as well as the difference between an entry-level accountant, the accounting department manager, and the organization’s comptroller.
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Term
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Definition
| average amount the organization pays for a particular job, including wages, salary and bonuses |
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Term
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Definition
| the pay policy resulting from job structure and pay level decisions |
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Term
issues in developing a pay structure:
legal requirements |
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Definition
government regulation afects pay structure in the areas of:
equal employment opportunity;
minimum wage;
pay for overtime;
prevailing wages for federsl contractors |
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Term
issues in developing a pay structure:
legal requirements:
equal employment opportunity |
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Definition
employers must not base differences in pay on an employee's age, sex, race, or other protected status;
equal opportunity: any deifferences in pay must be tied to business related considerations such as responsibilities or performance |
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