Translate arbeitsmarktbasierte Gestaltung der Vergütung from German to English

– A method of determining compensation by comparing individual jobs to market benchmark data for similar jobs in order to identify a value-relative basis. With this method, a specific pay range is associated with an individual job, but not with a compensation level (grade or band). Job market pricing is a feature of broad-banding compensation structures, but not of grades or steps. ¹