Compensation Types for Market Data

Your first task is to define the compensation types that you want to display in market data. Compensation types let you identify different kinds of pay, such as base salary and bonus, and import survey data for each type.

You can find the Compensation Types page in the Compensation work area under Market Data.

The Compensation Types page is where you identify the market target. For example, if you target the 50th percentile of the market for Base Salary then you can select that option. If you target the 40th percentile for base salary and the 60th percentile for bonus, then this is where you identify that mix of pay. The target appears in market composites wherever they occur in the application.

We deliver several common compensation types, but you can add your own. For example, you might want to offer supplemental life insurance to executives and review that across competitors in the survey data. Create a compensation type with the name Executive Benefit Supplemental Life Insurance. Select the Compensation Group of Benefits and a Data Type of Other.

If you need to set market targets separately for different countries, create and load survey data in that manner. For example, if the India salary market target is 60% and United States is 50%, create separate compensation types for them. Load the India salary with one compensation type and the US salary with another.