HRM305 Compensation Assignment (30 points) The following assignment will have you go to the O*NET online website to find market pay for certain jobs, create a point job evaluation system, create a pay structure chart, and do an analysis of what the base and top salaries of your jobs are based on O*NET data. You will state your opinion of how promotions within your pay grades should be done, and why. The promotions are based on what you think would be fair in a company you would work in. The assignment is worth thirty points total, with five points per question/section. Step 01. Go to Online.onetcenter.org (O*NET) Step 02: Go to site search to type in the jobs you will be evaluating. CREATE A PAY STRUCTURE 1. Go to the O*NET Website to find the average pay of the following jobs. When you go to the summary or details about those jobs, scroll to the very bottom to find the median wage of the jobs (5 points) a. Janitor - $13.19 hourly, $27,430 annual b. Accountant (lowest level) - $34.40 hourly, $71,550 annual c. Human resource manager - $56.11 hourly, $116,720 annual d. Radiologist - $99.28 hourly, $206,500 annual e. Bricklayer - $25.53 hourly, $53,100 annual f. Chief executive officer - $88.68 hourly, $184,460 annual g. Any other job of your choosing - Chef - $24.78 hourly, $51,530 annual 2. Create a point job evaluation system using the following compensable factors (5 points) a. Education required b. Contact with others C. Time pressure a. 3. Create a pay structure (clearly label everything) (5 points) Use the market pay and point data b. Draw a market line and pay line c. Use the lag approach to pay d. Draw six pay grades e. Show which jobs should go to which pay grade 4. What is the base salary (bottom of the pay grade) of each job based in your analysis? (5 points) 5. What is the top salary (top of the pay grade) of each job based on your analysis? (5 points) 6. How do you want promotions within your pay grades be done---by seniority, merit, or some incentive? Explain why. (5 points) HRM305 Compensation Assignment (30 points) The following assignment will have you go to the O*NET online website to find market pay for certain jobs, create a point job evaluation system, create a pay structure chart, and do an analysis of what the base and top salaries of your jobs are based on O*NET data. You will state your opinion of how promotions within your pay grades should be done, and why. The promotions are based on what you think would be fair in a company you would work in. The assignment is worth thirty points total, with five points per question/section. Step 01. Go to Online.onetcenter.org (O*NET) Step 02: Go to site search to type in the jobs you will be evaluating. CREATE A PAY STRUCTURE 1. Go to the O*NET Website to find the average pay of the following jobs. When you go to the summary or details about those jobs, scroll to the very bottom to find the median wage of the jobs (5 points) a. Janitor - $13.19 hourly, $27,430 annual b. Accountant (lowest level) - $34.40 hourly, $71,550 annual c. Human resource manager - $56.11 hourly, $116,720 annual d. Radiologist - $99.28 hourly, $206,500 annual e. Bricklayer - $25.53 hourly, $53,100 annual f. Chief executive officer - $88.68 hourly, $184,460 annual g. Any other job of your choosing - Chef - $24.78 hourly, $51,530 annual 2. Create a point job evaluation system using the following compensable factors (5 points) a. Education required b. Contact with others C. Time pressure a. 3. Create a pay structure (clearly label everything) (5 points) Use the market pay and point data b. Draw a market line and pay line c. Use the lag approach to pay d. Draw six pay grades e. Show which jobs should go to which pay grade 4. What is the base salary (bottom of the pay grade) of each job based in your analysis? (5 points) 5. What is the top salary (top of the pay grade) of each job based on your analysis? (5 points) 6. How do you want promotions within your pay grades be done---by seniority, merit, or some incentive? Explain why. (5 points)
