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MGMT-464 Compensation Structure Design

Explores the theory and practice of compensation structure design based on concepts of internal and external equity. Internal equity focuses on assessing the relative worth of different jobs in an organization through job evaluation. External equity involves assigning pay levels to different jobs in an organization based on data collected from wage and salary surveys of competitors. The topic of benefits is also addressed. Students are required to apply concepts and techniques in class within a group project that entails developing a compensation structure for a hypothetical company. Prerequisite: MGMT-361 or instructor's permission. 2 SH.