Market Premium Sample Clauses

Market Premium. If the market compensation study indicates that the trend line base salary range for a classification is 10% or more below the market target position’s median at both entry and maximum, then the Union and the Employer shall meet to negotiate the appropriate method and economic adjustment (market premium or reclassification) for the classification. The results of the negotiation shall be applied in the following fiscal year. If the Union and Employer agree that reclassification is appropriate, the reclassification shall occur in accordance with the County Classification and Compensation Policy (HR 001). If the Union and Employer agree that a Market Premium is appropriate, the negotiated market premium amount will be applied to the entire salary range for the classification. The base salary range for the classification will remain unchanged. This Market Premium subject matter is subject to the provisions of Section 10.4. Job classifications with market premiums added to the base salary range will continue to be included in all comprehensive surveys of Decision Band Method classifications within the occupational group until such time as the base salary range for the classification is within 10% of the target market level for the classification. The market premium amounts for a classification may change up or down each time the market is studied depending upon the data received from the market compensation study for the classification. Should the market premium amount fall to less than 10% below the target market position of the County, then the market premium will be eliminated and the salary for individual positions will be the individual’s current increment in the base salary for the job classification. This paragraph is subject to the outcome of the provisions of Section 10.4. Exhibit “B” AFSCME 87 87P 87PS Courthouse (Master) Effective January 1, 2020 Page 1 of 2 Pay Grade Increment 1 Increment 2 Increment 3 Increment 4 Increment 5 Increment 6 Increment 7 Increment 8 Increment 9 Increment 10 Increment 11 Increment 12 Increment 13 Increment 14 8 hr YR 27,210 27,914 28,644 29,385 30,152 30,931 31,734 32,563 33,416 34,281 35,171 36,086 37,025 37,990 8 hr MO 2,267 2,326 2,387 2,449 2,513 2,578 2,645 2,714 2,785 2,857 2,931 3,007 3,085 3,166 X00 XX 13.08 13.42 13.77 14.13 14.50 14.87 15.26 15.66 16.07 16.48 16.91 17.35 17.80 18.26 7.5 hr MO 2,126 2,181 2,238 2,296 2,356 2,416 2,479 2,544 2,611 2,678 2,748 2,819 2,893 2,968 7.5 hr YR 25,509 26,170 26,853 27,549...
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Market Premium. Market studies will be regularly conducted during the course of contract negotiations. During mid-term of a contract, a market study may be requested by the Bargaining Unit or the City if there is reason to believe that a classification or position may not be compensated at a market competitive rate. A significant issue in retention, recruitment, or significant disparity with the relevant market will constitute reason for a study. A disparity of 5% or less will not ordinarily result in any change. The result of any market study that indicates more than 5% disparity is subject to negotiations with the bargaining unit. Any market premium or reduction will be reviewed during the next regular negotiations market study.
Market Premium. If the market compensation study indicates that the trend line base salary range for a classification is 10% or more below the market target position’s median at both entry and maximum , then the Union and the Employer shall meet to negotiate the appropriate method and economic adjustment (market premium or reclassification) for the classification. The results of the negotiation shall be applied in the following fiscal year. If the Union and Employer agree that reclassification is appropriate, the reclassification shall occur in accordance with the County Classification and Compensation Policy (HR 001). If the Union and Employer agree that a Market Premium is appropriate, the negotiated market premium amount will be applied to the entire salary range for the classification. The base salary range for the classification will remain unchanged. Job classifications with market premiums added to the base salary range will continue to be included in all comprehensive surveys of Decision Band Method classifications within the occupational group until such time as the base salary range for the classification is within 10% of the target market level for the classification. The market premium amounts for a classification may change up or down each time the market is studied depending upon the data received from the market compensation study for the classification. Should the market premium amount fall to less than 10% below the target market position of the County, then the market premium will be eliminated and the salary for individual positions will be the individual’s current increment in the base salary for the job classification. Exhibit "B" AFSCME Local 87, 87P, 87PS 2015 Pay Plan Effective January 1, 2016 Pay Grade Increment Increment Increment Increment Increment Increment Increment Increment Increment Increment Increment Increment Increment Increment 8 hr YR 20,328 20,880 21,456 22,032 22,632 23,244 23,880 24,528 25,200 25,884 26,580 27,312 28,044 28,812 8 hr MO 1,694 1,740 1,788 1,836 1,886 1,937 1,990 2,044 2,100 2,157 2,215 2,276 2,337 2,401 X00 XX 9.77 10.04 10.32 10.59 10.88 11.18 11.48 11.79 12.12 12.44 12.78 13.13 13.48 13.85 7.5 hr MO 1,588 1,631 1,676 1,721 1,768 1,816 1,866 1,916 1,969 2,022 2,077 2,134 2,191 2,251 7.5 hr YR 19,058 19,575 20,115 20,655 21,218 21,791 22,388 22,995 23,625 24,266 24,919 25,605 26,291 27,011 8 hr YR 25,248 25,932 26,640 27,360 28,116 28,872 29,664 30,468 31,308 32,160 33,036 33,936 34,860 35,808 8 hr MO 2,104 2,161 2,2...
Market Premium. The market premium is the additional amount that brings the salary amount up to what the “market” pays in the coal industry in Central Queensland.

Related to Market Premium

  • Shift Premium Effective July 1, 2020, an employee shall be paid a shift premium of ninety-five cents (95c/ ) per hour for each hour worked between 1500 hours and 0700 hours provided that such hours exceed two (2) hours if worked in conjunction with the day shift.

  • Night Premium For all time worked by employees, after 7 p.m. and before 7 a.m., by employees hired on or before August 5, 2005, a premium of twenty-five cents (25¢) per hour shall be paid.

  • Night Shift Premium Any employee who is required to work on any day when the majority of their working hours fall between 10.00 p.m. and 5.00 a.m., or who starts their shift prior to 5.00 a.m., shall be paid a premium, in addition to their regular, hourly rate, of one dollar and twenty-five cents ($1.25) per hour for all hours worked on the shift. Shift premium pay shall not be added to an employee’s hourly rate for the purpose of computing overtime. This clause shall not result in duplication of premiums.

  • Weekend Premium Effective July 1, 2020, an employee shall be paid a weekend premium of one dollar and ten cents ($1.10) per hour for each hour worked between 2300 hours Friday and 2300 hours Sunday, or such other forty-eight (48) hour period as the local parties may agree upon or as defined in the Collective Agreement. If an employee is receiving premium pay pursuant to a local scheduling regulation with respect to consecutive weekends worked, the employee will not receive weekend premium under this provision.

  • Lead Hand Premium The Lead Hand premium shall be one dollar and fifty cents ($1.50) per hour for employees so appointed and the Company retains sole discretion to appoint, maintain or delete the use of lead hands.

  • Premium Share The State shall pay eighty percent (80%) of the premium cost of each plan and the employee or retiree will pay the remaining twenty percent (20%).

  • Shift Premiums (a) Evening/Night Premium Employees working an evening or night shift where the major portion of hours worked fall within the hours of 1500 and 0800 hours, shall be paid at their regular hourly rate plus a shift premium of $2.10 ($2.75 effective July 1, 2015) per hour for all hours worked.

  • Overtime Premium (a) Employees shall be entitled to payment of time and one-half (1-1/2X) the employee's basic straight time hourly rate for all authorized overtime work in excess of seven and one-half (7-1/2) hours in a tour of duty or in excess of the average full-time hours of work over the period scheduled by the Hospital. Such period for this purpose shall not exceed two (2) weeks. It is understood that no overtime will be paid where the time worked was a result of an exchange at shifts between employees. Overtime shall be distributed as equally as practical among those employees normally performing the type of work to be done on overtime. Notice of overtime work shall be given as soon as practically possible. It is understood and acknowledged that the Hospital has the right to require employees to perform reasonably authorized overtime work. Call-back shall not be considered as hours worked for purposes of this Article. Overtime premium will not be duplicated nor pyramided nor shall other premiums be duplicated nor pyramided nor shall the same hours worked be counted as part of the normal work week and also as hours for which the overtime premium is paid. Where an employee is required to work additional overtime contiguous to an overtime shift within a twenty-four (24) hour period, the employee will be compensated at the rate of double time his or her straight time hourly rate for all additional contiguous overtime hours worked.

  • Bilingual Premium The appointing authority may require a qualified employee to perform bilingual duties in positions which have been identified and designated as requiring such bilingual skills. In order to ensure an adequate level of bilingual proficiency, the Director, Department of Human Resources may require periodic evaluation of incumbents receiving bilingual premium.

  • Weekend Premium Pay Any nurse who works on a weekend shall receive four dollars ($4.00) per hour premium pay for each hour worked on the weekend in addition to the nurse’s regular rate of pay. Weekend premium pay shall not be included in the nurse’s regular rate of pay for overtime pay calculations, unless required by the Fair Labor Standards Act. The weekend shall be defined as all hours between 11:00 p.m. Friday and 11:00 p. m. Sunday.

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