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What is broad banding?

April 26, 2017Banding broad

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What is broad banding?

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Broad banding is a compensation strategy that consolidates a large number of narrow salary grades into much fewer bands with wider salary ranges. Bands are developed by matching current job summaries to appropriate descriptions in salary surveys from industry and higher education. Market data will determine the width of each band and the minimum and maximum salaries for each band. Bands will be built on market matches and targeted salaries. Thus, the pay policy will be tied to market-related positions based on the University’s ability to pay.