Question
Assuming that Rainbow Life wanted to pay their accounting staff, on average, at the 70 th percentile of the average salaries paid by their competition
Assuming that Rainbow Life wanted to pay their accounting staff, on average, at the 70th percentile of the average salaries paid by their competition in the Toronto marketplace, how would you go about doing that?
The following table contains the current salary of the members of the accounting department of Rainbow Life.
Employee Number | Job Level | Job Evaluation Points | Annual Salary (C$) |
1 | Accountant I | 370 | 80,000 |
2 | Accountant I | 370 | 80,000 |
3 | Accountant I | 370 | 81,000 |
4 | Accountant I | 370 | 81,500 |
5 | Accountant I | 370 | 85,000 |
6 | Accountant I | 370 | 90,000 |
7 | Accountant I | 370 | 91,000 |
8 | Accountant I | 370 | 92,000 |
9 | Accountant I | 370 | 93,000 |
10 | Accountant I | 370 | 95,000 |
11 | Accountant I | 370 | 95,500 |
12 | Accountant II | 570 | 90,000 |
13 | Accountant II | 570 | 94,000 |
14 | Accountant II | 570 | 95,000 |
15 | Accountant II | 570 | 96,000 |
16 | Accountant II | 570 | 100,000 |
17 | Accountant II | 570 | 101,000 |
18 | Accountant II | 570 | 105,000 |
19 | Accountant II | 570 | 107,000 |
20 | Accountant II | 570 | 107,000 |
21 | Accountant II | 570 | 108,000 |
22 | Accountant II | 570 | 109,000 |
23 | Accountant III | 710 | 105,000 |
24 | Accountant III | 710 | 109,000 |
25 | Accountant III | 710 | 109,000 |
26 | Accountant III | 710 | 110,000 |
27 | Accountant III | 710 | 110,000 |
28 | Accountant III | 710 | 110,500 |
29 | Accountant III | 710 | 112,000 |
30 | Accountant III | 710 | 115,000 |
31 | Accounting Manager | 895 | 120,000 |
32 | Accounting Manager | 895 | 127,500 |
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