Compensation bands are used to establish the pay range for a specific role. A compensation band is defined by a minimum and maximum amount and is often differentiated between roles, levels, and locations. Compensation bands are recommended but not required for running a compensation cycle.
Create a compensation band
- Navigate to Admin > Compensation > Compensation Bands.
- Select Create band > Create new band.
- Add the following required fields:
- Job level
- Job function
- Job type
- Currency code
- Min base pay (salary)
- Mid base pay (salary)
- Max base pay (salary)
- (optional) Select Show optional fields to view and input any additional values, including OTE, equity, and bonus.
- Select Save to apply the compensation band to the track.
- Select Save.
Next, learn how to assign employees to compensation bands.