Reference no: EM132447240
Pay Structure
As the compensation analyst for the relatively new Omega Corporation, you are to price a pay structure. Information is provided to you below and includes the points for each job (which was obtained through a job evaluation) and salary rate midpoint data (obtained through a salary survey) for each benchmark job.
You are to have equal percentage progressions between midpoint rates and set the rate RANGE at 10% on each side of the midpoint. Make sure you incorporate this information into your answer.
Do the following: (If there is more than one pay structure, you are required to only develop the pay structure with the most jobs). Hint: Please do not confuse structures with grades (NOTE: Providing me with a calculated answer and then a 1-2 sentence answer is not a discussion). If all you essentially provide me is a calculated answer, then you've simply demonstrated you know how to do calculations and you haven't demonstrated you understand what and why you did it.
1. How many pay structures are required? DEMONSTRATE (with a plot) AND EXPLAIN WHY. If you determine there is more than one structure, only use the one structure with the most populous jobs.
(ONE PARAGRAPH & ONE EXCEL SCATTERPLOT):
2. Determine the number of grades and indicate which jobs are in which grade. Discuss how you determined the number of grades.
(ONE PARAGRAPH):
4. Determine the midpoint pay rate for EACH grade. Discuss what the midpoint pay rate for each grade represents.
(ONE PARAGRAPH):
5. Determine the high/low ratio and the midpoint to midpoint percentage progression. Discuss the meaning for each
(ONE PARAGRAPH):
6. Draw and calculate the grade overlap BETWEEN EACH ADJACENT GRADES. (EXCEL) Discuss what the overlaps represent.
(ONE PARAGRAPH & ONE EXCEL GRAPH):
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Compensation Data for Johnson Corp.
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Job
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Evaluation Points
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Salary Data
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A
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115
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$10.15
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B
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125
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$10.30
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C
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155
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$11.00
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D
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155
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$11.15
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E
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160
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$11.40
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F
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170
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$11.35
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G
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210
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$12.00
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H
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225
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$12.15
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I
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230
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$12.25
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J
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285
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$13.25
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K
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295
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$13.40
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L
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325
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$14.10
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M
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330
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$17.05
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N
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375
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$19.85
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O
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350
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$14.95
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P
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400
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$16.00
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Q
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425
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$16.25
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R
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465
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$16.50
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S
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540
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$18.40
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T
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545
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$25.00
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U
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555
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$18.55
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V
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575
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$14.50
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W
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580
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$19.25
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X
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620
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$20.80
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Y
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625
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$21.00
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Z
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640
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$22.00
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