This policy and the procedures tell you what market pay is and when it can be used. They explain how you get approval to offer someone market pay, and then how this is paid.
- You may be able to use market pay if you dont think you can recruit or keep staff at their current pay level, because other organisations are paying more.
- Any payments have to be agreed by the Faculty Dean and the Director of Human Resources and should be reviewed annually by the Head of School/Service and HR Manager.
- Market pay is role-specific, so if you move to another role in the University you might lose the extra pay.
- Market pay can be a lump sum payment or paid on top of your basic salary.
- If you leave the University within two years of being awarded market pay as a lump sum, you might have to pay it back.