How to use paybands in Total Compensation
What are paybands?
Paybands empower customers to:
Define their own salary and equity ranges
Assess how employee compensation aligns with these ranges
Compare paybands against market data to evaluate the competitiveness of their compensation practices
How paybands are generated
Paybands are automatically generated for all job areas with mapped employees. As new employees are assigned to different job areas, companies can create additional paybands as needed.
This tool leverages Carta Total Comp's default job areas and specializations and allows companies to customize and adjust their compensation bands.
Start by reviewing your Compensation Plan information, then click Create paybands.
This page automatically displays a list of roles, allowing users to select and edit as needed.
You can also sort the list by any displayed column.
Editing role details
Select a role you'd like to edit.
The information displayed will be based on settings defined in the Compensation Plan.
Select Edit to update specific details.
Adjust the market benchmark variables-role, peer group, market position, and location-to view that roles Market benchmarks.
Changing the variables will not affect the role's payband; they only modify the data displayed in the Market benchmark column.
Modify specific details for each level within the role.
To update Equity bands, navigate to the Equity tab.
The Progression column reflects how an employee’s salary evolves within the band over time. This value is automatically calculated based on the Target Salary column.
Use the Notes column to document your rationale or any key decisions made when setting compensation targets.
Once you've completed your edits, click Save. The updated information will be reflected in the Compensation Reports section.