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A labor market analysis shows how other employers with comparable positions pay their employees and can help University managers and supervisors determine the appropriate pay level for a new position or current employee. A labor market analysis can also assist managers in making retention or internal equity decisions.
The Compensation staff will conduct custom salary surveys if there is little or no published data available for certain University jobs. You may request a competitive labor market survey for a job(s) by contacting your Compensation Consultant and providing the necessary data to begin an analysis.
The University's competitive labor market is defined as those organizations that are the source of new employees, or the destinations for our departing employees. Some jobs are unique to the University and labor market information may not be available. There are not comparable jobs or market survey data for every job at the University.
The University compares itself to the service market (other employers providing the same product or service) as well as the labor market (other employers competing for the same talent/employees).
In general, labor markets vary from job to job, may be local, regional, or national, are both public sector and private sector, include higher education, and may be all employers or a specific type of employer.
Labor market information ensures fair compensation, helps to attract and retain University employees, and provides management with information to assist in effective allocation of resources.
Market information is one factor that managers, supervisors and human resource professionals consider in making pay decisions and/or recommendations. Other factors include:
Broadbanded classification descriptions are broad in scope and describe a general body of work, not the specific duties and responsibilities belonging to all of the positions allocated to that classification. Titles are general and are designed to identify and define the job family. The titles provide a consistent and common standard by which these families can be utilized across the University.
The following job families are broadbanded at the University:
Salary ranges of broadbanded classifications are based upon current labor market information and represent a wider spread than those ranges currently in use at the University. In some bands there is no salary range maximum. The midpoint rate of the range represents the market average for all of the different jobs in that particular classification.
For assistance in determining the appropriate pay for an employee in a broadbanded position, including labor market data requests, please contact your Compensation Consultant.