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Pay Rate Determination Using the Point Value Method (adapted from Martocchio, 2020) Directions; Using the information provided, answer the questions below. The point method system of job evaluation assigns point values to jobs based on the degree of compensable factors that define them. This method reduces implicit biases because pay is based the value of the job itself, not the value of the person who is applying for it. When job evaluation is conducted correctly, jobs with higher point totals will be valued (in terms of average market pay rates) more highly than jobs with lower point totals. The following list shows five manager jobs (all requiring the same base technical knowledge, but different levels of responsibilities and skills) and the corresponding point total. Assume that the market pay for the the associate manager job is $62,000 and it is being used as the frame of reference for determining all other management jobs on the list. 1. What should the pay rate be for the remaining four (4) management jobs based on a dollar per point allocation? 2. Assume your organization wants to lead the market, so it is wants to apply a 1.15 compa ratio to the associate manager market pay. What should the rate of pay be for all five (5) jobs? 3. Assume your organization can't afford to meet the market, so it must lower the CR to .90 of the associate manager market pay. What should the rate of pay be for all five (5) jobs? 4. What happens to the rates of pay if you leave the Associate Manager at 421 points, but raise everyone else by 30 points? Use the original $62,000 market pay to calculate this