Examlex
Bonds are financial instruments representing partial ownership of a firm.
Pay Range
A set of possible pay rates defined by a minimum, maximum, and midpoint of pay for employees holding a particular job or a job within a particular pay grade.
Minimum Pay
The lowest legal salary that an employer can pay to an employee.
Maximum Pay
The highest salary or wage rate that an employee can earn in a specific job or position.
Broad Bands
HR strategy that uses wider salary ranges or bands to give managers more flexibility in compensating employees based on performance, rather than strict adherence to job titles or scales.
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