Salary Administration Plans

The regulations are unclear what constitutes “similar” jobs. Salary Administration Plans (SAPs) document the institution’s view of what jobs are equivalent and how it will administrate the salaries of each job and job level. They ensure that officer titles do not become a default job grading system. Young & Associates, Inc. has vast, diverse experience working with community financial institutions and is uniquely qualified to help.

Young & Associates, Inc. SAP services include:

  • Creating a job grading hierarchy
  • Defining unique job and job grade features
  • Creating a compensation philosophy that includes:
    • Supporting policies and procedures
    • Officer titling policy (coupling or decoupling from compensation)
  • Researching the market
  • Associating job grades to compensation
    • Identify budgetary parameters and constraints
    • Analyze current salary structure
    • Develop initial salary structure
    • Create pay ranges for salary structure
  • Integrating SAP into other company strategies and processes
  • Rolling out plan to managers and employees