Compensation and Benefits Manager how-to
How to Build a Salary Range for a New Job
Good ranges attract and keep talent.
Quick answer
Good ranges attract and keep talent. In short: write; match; pull, then complete the remaining steps below.
Step by step
Write the job description.
Match to survey jobs.
Pull market data.
Set the midpoint.
Set minimum and maximum.
Check internal equity.
Safety reminders for compensation and benefits managers
- Protect employee pay data
- Follow ERISA and FLSA
- Keep health data private under HIPAA
- Prevent pay discrimination
Key terms
Total rewards · Salary range · Midpoint · Compa-ratio · Market pricing · Job evaluation: see the full compensation and benefits manager glossary.