What is market equity?
Market equity is the alignment of salaries to market salary data, as measured by reviewing and tracking market trends and annual market survey data.
What is market pricing?
Market pricing is the process of analyzing external market data to establish the competitive rate of pay for a job.
Why do we use a market-based pay approach at UCM?
We use a market-based pay approach to be a competitive employer, to be in alignment with our systemwide counterparts and to have an analytical means to pay fairly and equitably.
What is a compa-ratio?
Compa-ratio is a formula used by the compensation industry
= (Current salary/Market midpoint)*100
Why do we use compa-ratio in market equity analysis?
- Compa-ratio is used to assess the competitiveness of an employees pay. A compa-ratio of 100 indicates you are paying an employee to the market value of their job.
- General industry practice shows that most salaries should fall 10% - 20% below midpoint to 10% - 20% above midpoint.
Where are UCM staff salaries currently positioned?
For career staff employees:
- 17% of salaries fall below 80% compa-ratio*
- 83% of salaries are above 80% compa-ratio*
- 80% of salaries fall between 80% - 120% compa-ratio*
*Data as of February 2022
How will I know if I will receive an increase?
Notifications will be sent directly to employees if they will be receiving an increase prior to the check payout date (April 27th, 2022 for bi-weekly employees and April 29th, 2022 for monthly employees). Distribution sheets will also be sent out to the Vice Chancellors for any employee who will be receiving an increase in their area.
Are staff represented employees eligible for this program?
No, a represented staff employees pay is governed by their Collective Bargaining Agreements which can be found here on UC Net.
