Starting Salary

configuring starting salary you can configure starting salaries to automatically prepopulate compensation information on unfilled jobs in charthop when enabled, this feature uses the compensation band assigned to a job to automatically fill in base salary, target variable pay, and target equity values for open positions this streamlines the job creation process and ensures consistency with your organization's compensation structure prerequisites before configuring starting salaries, ensure that you have compensation bands set up in charthop learn more about compensation bands 💡 starting salary configuration applies to unfilled jobs only the compensation information prepopulates based on the job's assigned compensation band accessing starting salary configuration to access starting salary settings from the left sidebar, select admin from the sub menu, select financial locate the starting salary section configuring starting salary settings when you enable starting salary configuration, charthop automatically populates compensation fields on unfilled jobs based on their assigned compensation bands this ensures that open positions display appropriate compensation ranges from the start to configure starting salary settings from the left sidebar, select admin from the sub menu, select financial in the starting salary section, configure the calculation for populating base salary also optionally check off whether you want target variable and/or target equity to populate select save to apply your changes starting salary configuration options the following configuration options are available for starting salary base salary calculation select which percentile of the compensation band to use for populating base salary on unfilled jobs option description band minimum populates base salary using the minimum value of the compensation band band quarter populates base salary using the 25th percentile of the compensation band band midpoint populates base salary using the midpoint value of the compensation band custom percentile populates base salary using a custom percentile you specify (e g , 30th percentile, 75th percentile) effective date set an effective date to determine which version of your compensation bands to reference charthop uses the compensation band data as of the specified effective date to calculate starting salary values optional compensation components select which additional compensation components should prepopulate target variable check to automatically populate target variable pay from the compensation band target equity check to automatically populate target equity from the compensation band how starting salary works once enabled, starting salary configuration works as follows when you create a new unfilled job with an assigned compensation band, the compensation fields automatically populate with values from that band if you change the compensation band on an unfilled job, the compensation values update to reflect the new band this feature only affects unfilled jobs; filled positions retain their existing compensation data 💡 if a job doesn't have a compensation band assigned, the compensation fields remain empty and must be filled in manually packages basic | headcount planning | compensation reviews | performance | engagement | hris access roles owner, users with permissions to configure financial settings