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What is the difference between the Journey Market Rate and the Market Reference Rate?

April 26, 2017difference journey market rate Reference

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What is the difference between the Journey Market Rate and the Market Reference Rate?

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The journey market rate is the statewide market rate for the banded class. Employees at or near this rate fully demonstrate all journey level competencies for the banded class. Through experience, management may determine that in their locality a particular Journey Market Rate is not competitive (either too high or too low). A Market Reference Rate might be a solution. For example, a request can be made to OSP for a higher Market Reference Rate if there is documented turnover, recruitment and market data to support the request.