What is salary range in SAP PA-CM - Compensation Management?

SAP Term: salary range

• Component: PA-CM

• Component Name: Compensation Management

• Description: Defines the minimum, midpoint and maximum reported for a job by organizations with a formal salary structure. The salary range reflects the market value of a job.

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• Key Concepts: 
  Salary range is a component of SAP's PA-CM Compensation Management module. It is used to define the minimum and maximum salary for a particular job position. It also helps to ensure that employees are paid fairly and equitably based on their job responsibilities. 
  
  How to use it: 
  The salary range component of PA-CM Compensation Management can be used to define the minimum and maximum salary for a particular job position. This helps to ensure that employees are paid fairly and equitably based on their job responsibilities. The salary range can be set up in the system by entering the minimum and maximum salary for each job position. 
  
  Tips & Tricks: 
  When setting up the salary range, it is important to consider the current market rate for similar positions in order to ensure that employees are paid fairly and equitably. Additionally, it is important to review the salary range periodically in order to ensure that it remains competitive with the current market rate. 
  
  Related Information: 
  For more information about SAP's PA-CM Compensation Management module, please refer to the official SAP documentation. Additionally, there are many online resources available that provide detailed information about how to use this module.