Common use of Market Rates Clause in Contracts

Market Rates. The market rate is the midpoint of market range. Individual employee salary rates are between 80 and 120 percent of the market rate. Market rates are based on market data. For jobs with no market data, TVA and the EA shall mutually assign market rates based on the relative difficulty, responsibility, and qualification requirements of the position. Market rates will be adjusted 75 percent of the pay budget for the second and third years of the multi-year agreement. Adjustments in market rates do not increase or decrease individual employee salaries.

Market Rates. The market rate is the midpoint of market range. Individual employee salary rates are between 80 and 120 percent of the market rate. Market rates are based on market data. For jobs with no market data, TVA and the EA shall mutually assign market rates based on the relative difficulty, responsibility, responsibility and qualification requirements of the position. Market rates will be adjusted 75 percent of the pay budget for the second and third years of the multi-year agreement. Adjustments in market rates do not increase or decrease individual employee salaries.