Salary Range
A salary range is a defined range of compensation that an organization is willing to offer for a particular position or job role. It typically consists of a minimum, midpoint, and maximum salary, with the minimum representing the starting pay for entry-level employees and the maximum representing the pay for highly experienced or senior-level employees. Salary ranges are determined based on factors such as industry standards, geographic location, job responsibilities, and the candidate’s experience and qualifications. The salary range helps ensure pay equity, transparency, and consistency within an organization and is often used as a basis for offering competitive compensation packages to prospective employees.
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