Common use of Market-Based Pay Clause in Contracts

Market-Based Pay. Market-based pay is awarded to employees based on comparisons to how other employers compensate employees in similar jobs. Market-based comparisons consider not only base pay, but also other types of compensation and benefits having a definable dollar value. The Department may consider market-based pay adjustments on a case-by-case basis; so long as corresponding base pay adjustments are applied to all employees in the same job category to ensure their pay is at least equal to the

Market-Based Pay. Market-based pay is awarded to employees based on comparisons to how other employers compensate employees in similar jobs. Market-based comparisons consider not only base pay, but also other types of compensation and benefits having a definable dollar value. The Department may consider market-based pay adjustments on a case-by-case basis; so long as corresponding base pay adjustments are applied to all employees in the same job category to ensure their pay is at least equal to thethe new hire.