Question

Given a pay range with a minimum of $16 per hour and a maximum of $20 per hour (with a midpoint of $18 per hour), what is the compa-ratio for an employee who earns $19/hour

Answer 1

Answer:

106%

Explanation:

Computation compa-ratio for an employee who earns $19/hour

Using this formula

Compa-ratio= Rate/Midpoint

Where,

Rate is the employees pay rate

Midpoint is the midpoint of the target market rate

Let plug in the formula

Compa-ratio=$19/$18

Compa-ratio=106%

Therefore the compa-ratio for an employee who earns $19/hour will be $106%