Which of the following terms refers to the actual minimum and maximum pay rate, in dollar terms, for all the jobs that fall in a particular pay grade?
A) pay range
B) broadbanding
C) market anchor
D) step progression

Question

Quizplus · Accepted Answer

Pay range refers to the actual minimum and maximum pay rate in dollar terms for all the jobs that fall in a particular pay grade. Broadbanding refers to the practice of collapsing multiple pay grades into a few broad levels. Market anchor refers to the external market pay rate for a particular job or position. Step progression refers to the gradual increase in pay that employees receive based on their performance or time spent in a job.

Which of the Following Terms Refers to the Actual Minimum