Market Premium Clause Samples

Market Premium. If the market compensation study indicates that the salary range for a classification is significantly below the market midpoint, then the Union and the Employer shall meet to negotiate the appropriate method and economic adjustment (market premium or reclassification) for the classification. The results of the negotiation shall be applied in the following fiscal year. If the Union and Employer agree that reclassification is appropriate, the reclassification shall occur in accordance with Exhibit “C”. If the Union and the employer agree that a Market Premium is appropriate, the negotiated market premium amount will be applied to the entire salary range for the classification. The base salary range for the classification will remain unchanged. Job classifications with market premiums added to the base salary range will continue to be included in all comprehensive surveys of Decision Band Method classifications within the occupational group until such time as the base salary range for the classification is not significantly below the market. The market premium amounts for a classification may change up or down each time the market is studied depending upon the data received from the market compensation study for the classification. Should the market premium amount not be significantly below the target market position of the County, then the market premium will be eliminated and the salary for individual positions will be the individual’s current increment in the base salary range for the job classifications.

Market Premium. ‌ Market studies will be regularly conducted during the course of contract negotiations. During mid-term of a contract, a market study may be requested by the Bargaining Unit or the City if there is reason to believe that a classification or position may not be compensated at a market competitive rate. A significant issue in retention, recruitment, or significant disparity with the relevant market will constitute reason for a study. A disparity of 5% or less will not ordinarily result in any change. The result of any market study that indicates more than 5% disparity is subject to negotiations with the bargaining unit. Any market premium or reduction will be reviewed during the next regular negotiations market study.

Market Premium. If the market compensation study indicates that the trend line base salary range for a classification is ten percent (10%) or more below the market target position’s median at both entry and maximum, then the Union and the Employer shall meet to negotiate the appropriate method and economic adjustment (market premium or reclassification) for the classification. The results of the negotiation shall be applied in the following fiscal year. If the Union and Employer agree that reclassification is appropriate, the reclassification shall occur in accordance with the County Classification and

Market Premium. If the market compensation study indicates that the trend line base salary range for a classification is 10% or more below the market target position’s median at both entry and maximum , then the Union and the Employer shall meet to negotiate the appropriate method and economic adjustment (market premium or reclassification) for the classification. The results of the negotiation shall be applied in the following fiscal year. If the Union and Employer agree that reclassification is appropriate, the reclassification shall occur in accordance with the County Classification and Compensation Policy (HR 001). If the Union and Employer agree that a Market Premium is appropriate, the negotiated market premium amount will be applied to the entire salary range for the classification. The base salary range for the classification will remain unchanged. Job classifications with market premiums added to the base salary range will continue to be included in all comprehensive surveys of Decision Band Method classifications within the occupational group until such time as the base salary range for the classification is within 10% of the target market level for the classification. The market premium amounts for a classification may change up or down each time the market is studied depending upon the data received from the market compensation study for the classification. Should the market premium amount fall to less than 10% below the target market position of the County, then the market premium will be eliminated and the salary for individual positions will be the individual’s current increment in the base salary for the job classification. 7.5 hr YR 51,390 52,470 53,573 54,698 55,845 57,015 58,208 59,423 60,671 61,943 63,236 64,564 65,914 67,298 Title/Class Pay Band # Empl County Worker A01 0 Office Assist A11 0 Office Tech/Mntc Worker A12 16 Office Supt Tech/Fin Tech A13 1 Office Spec/Fin Spec/Mntc Spec B21 63 Office Coord/Prog Spec/JCO B22 31 Prog Rep/ Fac Mntc Tech B23 12 Sr Prog Rep/Fac Mntc Spec B24/B31 10 Office Supv B25/B32 5 Program Coord/Accountant/Prob Officer C41 15 Prog Analyst C42 0

Market Premium. The market premium is the additional amount that brings the salary amount up to what the “market” pays in the coal industry in Central Queensland.

Market Premium. Effective April 1, 2024, ▇▇▇▇▇▇▇ nurses shall be paid a market adjustment premium of one dollar and fifty cents ($1.50) per hour/visit.

Market Premium. If the market compensation study indicates that the trend line base salary range for a classification is 10% or more below the market target position’s median at both entry and maximum, then the Union and the Employer shall meet to negotiate the appropriate method and economic adjustment (market premium or reclassification) for the classification. The results of the negotiation shall be applied in the following fiscal year. If the Union and Employer agree that reclassification is appropriate, the reclassification shall occur in accordance with the County Classification and Compensation Policy (HR 001). If the Union and Employer agree that a Market Premium is appropriate, the negotiated market premium amount will be applied to the entire salary range for the classification. The base salary range for the classification will remain unchanged. This Market Premium subject matter is subject to the provisions of Section 10.5. Job classifications with market premiums added to the base salary range will continue to be included in all comprehensive surveys of Decision Band Method classifications within the occupational group until such time as the base salary range for the classification is within 10% of the target market level for the classification. The market premium amounts for a classification may change up or down each time the market is studied depending upon the data received from the market compensation study for the classification. Should the market premium amount fall to less than 10% below the target market position of the County, then the market premium will be eliminated and the salary for individual positions will be the individual’s current increment in the base salary for the job classification. This paragraph is subject to the outcome of the provisions of Section 10.5.