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Rate Ranges
The spectrum of pay rates from minimum to maximum that are established for different pay grades or job classifications within an organization.
Average Wage Rate
The average amount of money earned per hour, day, or year by workers within a specific region, sector, or occupation.
Job Evaluation
Job evaluation is a systematic process used to determine the relative worth of jobs within an organization for the purpose of establishing fair compensation levels.
Relative Worth
The perceived value or importance of a job, task, or employee's contributions in comparison to others within an organization, often used in determining compensation.
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