Overview of Grade Rates

A grade rate is a list of grades, where each grade can have these associated attributes: minimum, maximum, midpoint, and value.

You can use grade rates in these ways:

• To define salary ranges.
• To define rate values within a grade ladder when your grades don’t have steps.

Here are some key points about grade rates:

• You can create grade rates on the grade ladders page or the grade rates page.
• When you create a grade rate, you specify common attributes such as rate type, currency, frequency, annualization factor, and legislative data group.
• You add your grades to the grade rate, and associate grade rate values which are the minimum, maximum, midpoint, and value amounts for each grade.
• You can have as few or as many grade rates as you like. And you can include the same grade in more than one grade rate.
• Once you create a grade rate, you can’t update the legislative data group.

Rate Types

The types of rates that you can set up depend on the values for the lookup type GRADE_PAY_RATE_TYPE.

Examples of rate types are salary, bonus, and overtime pay. Salary is the most common rate type because it’s the only one that’s used for salary ranges and grade ladders.