Market Pricing Features and Functions

• Store multiple market data points from a single survey source for a single job code


• Each market data point may be attached or reassigned to a company job code


• Each company job code may be attached to a pay structure (pay grade, broad band, etc.)


• Age all market data points to a common date


• Calculate a market rate for each job code using the stored market data points


• Use market data to calculate a pay structure reference point and compare the result to a stored pay reference point


• Extrapolate market rates


• Support input and display of market data points in local or budget currency.


• Store company job evaluation points


• Store survey source and effective date


• Survey data points for base pay


• Survey data points for total pay


• Survey data points for bonus or incentive


• Survey cuts for segmentation


• User may deselect a data point and exclude it from market average calculations


• Reclassify a market data point to a different pay structure or job code


• User may select market survey sources to use in market rate calculation


• Filter market survey data to identify data points used in market rate calculations


• Extrapolate a market rate using job evaluation points and market rates for similar jobs


• Designate a job code as a benchmark job


• Average and compare market data for benchmark jobs within a pay grade to a stored pay range midpoint (or other range reference point)


• Users may select the pay grade reference point to apply based on the extrapolation of a market data point