Management: Relevant market survey; difference in salary ranges and pay bands
Questions of human resources, Compensation Course. Please do not use the compensation book author Milkovich, because is text that I using and do not use plagiarism from the website use the ideas and develop the answer with your own words.
1-What is a market survey? What factors determine the relevant market for a survey? Why is the definition of the relevant market so important?
2-What are the differences between salary ranges or pay grades and pay bands? Why would you use either? What are the pros and cons of using them to achieve internal alignment? How do they help or hinder external competitiveness?