Setting Up Pay Range Formulas

Access the Pay Range Formulas form.

Pay per Point

Enter the amount that is paid for each evaluation point that a job receives. For example, if a job receives 150 evaluation points and the pay per point is 8, then the total pay from points is 1200 of the currency being used.

The system adds this amount to the based on amount to calculate the job pay range midpoint/control point.

Based On Amount

Enter the baseline amount from which salary pay ranges are calculated. Enter debits with a plus sign (+) and credits with a minus sign (-). Enter a credit, for example, as 5000.01-. You can enter decimals, dollar signs, and commas. The system ignores nonsignificant characters.

The Human Resources system uses this field for the Hay Points Evaluation Method. It is the basic salary from which salary ranges are calculated. The amount in this field is added to the pay per point to determine the job pay range midpoint/control point.

Multiplier for Minimum

Enter the number by which a midpoint or control point is multiplied to determine the minimum amount (data item AAQ1) in a pay range formula calculation. This multiplier should be less than 1.00 so that the minimum amount is less than the midpoint.

Multiplier for Maximum

Enter the number by which a midpoint or control point is multiplied to determine the maximum amount (data item AAQ3) in a pay range formula calculation. This multiplier should be greater than 1.00 so that the maximum amount is greater than the midpoint.

Geographic Multiplier

Enter a number that specifies the difference for pay ranges by locality (data item SLOC). The system multiplies this factor by the pay-from-points amount and then adds that product to the base amount (data item BAA). The resulting amount is the midpoint of the pay range.

Note: The pay from points is the evaluation points of a job multiplied by the pay per point from a formula.

Rounding Factor

Enter the increment to which a calculated figure is rounded off. For example, a calculated figure of 24,327 is rounded up to 24,330 if the rounding factor is 10, or down to 24,300 if the rounding factor is 100.