Market pay

Market pay premium

Information about payment of a market pay premium

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This allowance is applicable to all staff on grades 1-10. 

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Particularly difficult market conditions, leading to problems recruiting and retaining particular categories of staff, should be discussed with the Reward team who will be able to advise as to whether a market-based supplement may be applicable. 

A market supplement may be considered where all the following conditions are evidenced: 

  • There is significant risk to business critical activities caused by lack of staff with key skills in the specific roles because there are vacancies or significant risk of vacancies and evidence that suitable candidates do not or will not apply 
  • The data for the relevant external market indicates a significant premium 
  • Non-pay recruitment and retention initiatives are not sufficient to secure the key skills

The appropriate grade is determined through HERA job evaluation. Market supplements are paid as an allowance equal to the difference between the top point of the discretionary range and the market rate as determined by the Reward team.Market data will be obtained by the Reward team from specialist sources with access to relevant and appropriate pay market data. 

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Market supplements are managed separately from basic pay and are paid as an allowance equal to the difference between the top point of the discretionary range and the market rate as determined by the Reward team. 

Eg If a total salary of £70,000 is required to recruit to a grade 9 business critical role, the member of staff would be paid at the top of their grade range with Grade 9.9 (currently £60,905) with a market supplement of £9,095. 

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This scheme requires authorisation by the Reward Team. Once agreed, departments should input the allowance into Core HR with the payroll authorisation code in the relevant field.

Market pay allowances are not automatically subject to cost of living increases. The Reward team conduct an annual review of market pay allowances and will instruct Payroll of any necessary adjustments to market pay in the light of cost of living increases and market data. Where the market data indicates that the skills no longer command a premium in the external market, the supplement will be frozen at its current level. Departments will be notified by email of any adjustments made.  

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Salary supplements for recruitment or retention

Information about salary supplements for recruitment or retention for Associate Professors

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This allowance is applicable to all staff on Associate Professor grades

 

 
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