Asked by
Jacinta Ezeakacha
on Oct 16, 2024
Verified
A pay grade is the same as a pay range.
Pay Grade
A classification system that defines the range of pay rates for different levels of jobs within an organization based on the job's relative value or complexity.
Pay Range
The spectrum of compensation that an organization is willing to pay for a particular position, from the minimum to the maximum salary.
- Acquire insight into the mechanisms behind pay systems, pay scales, and the evaluation and classification of roles for salary determination.
Verified Answer
MM
Learning Objectives
- Acquire insight into the mechanisms behind pay systems, pay scales, and the evaluation and classification of roles for salary determination.