Assignment:
Question 1. Explain the role of compensation surveys. Why is it important to update survey data?
Question 2. Explain market pay line. How is it used in the context of pay level policies such as market lead, market lag, and market match?
Question 3. Can companies easily develop compensations that are both internally consistent and market competitive? What are some of the challenges to this goal?
Question 4. Which do you believe is most important for a company's competitive advantage: internal consistency or market competitiveness? Explain your answer.
Question 5. Discuss how compensation professionals integrate job structures with external market pay rates.
Question 6. Present the basic concepts of two compensation policy types: pay mix and pay level.