Salary Grades

This is used to define the minimum and maximum value for a salary.

Prerequisites

• Prevar Setting *SALARY_GRADE is used to setup auto percentages.

Rules and Guidelines

• A Salary Grade of '9999' exists by default and must not be deleted or modified.
• If the Auto % figures are not correct for your organisation, please refer any changes to your System Administrator or Consultant.
• The Salary grades are used in the Compa Ratio Grade Report.
• Fields with asterisk (*) are mandatory.

Field Information

Code*

This field displays a 4-character code that represents the Salary Grade code.

Description*

This field displays a description of the Salary Grade code.

Midpoint Salary*

Type the value of the mid-range of the salary to be paid to this grade.

• When this figure is entered, Preceda automatically calculates and fills in the range of salaries that can be overridden.

 

Salary Ranges Based on Mid Salary and Auto %

The Maximum, Upper, Lower and Minimum Salary amount entered is the Midpoint Salary (multiplied by) the Auto %.

Hay Formula Points

The Hay Formula fields may be used to store data relating to the Hay Job Evaluation system and if used, data may be included in reports for salary comparison purposes.

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