What does TTC mean in salary?
Target Total Compensation (TTC) is the amount of pay that a role (not a person) is expected to earn at 100% of expected performance. This number is absolutely essential to developing sound compensation plans. Without it you will not know who is doing better than expected and who is doing worse.
What is TCC in compensation?
Total Cash Compensation (TCC) The combined value of an employee’s base pay and their short-term incentive (STI) pay items, including bonuses, incentives, and commissions.
What is TTC quartile?
The analyses grouped pay and performance into one of four quartiles with the 1st quartile being the lowest quartile (comprising data at or below the 25th percentile or bottom 25%) and the 4th quartile being the highest (comprising data at or above the 75th percentile or top 25%); the 2nd quartile included data ranked …
What is total guaranteed compensation?
Total guaranteed package or fixed cost to company are aggregates that include guaranteed pay and benefits. This represents the total fixed cost of the reward package and is useful for budgeting. All forms of variable pay (annual bonus and equity compensation) are excluded from this aggregate.
What are compensation expectations?
Stating your compensation expectations during an interview helps prepare you to understand the compensation amounts for each employer. When you answer this question, it prompts the interviewer to discuss compensation benefits for the company, including details such as pay, vacation rates and compensation bonuses.
What is the 25th 50th and 75th percentile in compensation?
The “middle half” of people in this job have salaries that fall between the 25th and 75th percentile. The lower half of salaries for this job fall below the fiftieth percentile while the upper half are above it. The 50th percentile is the most widely-used measure of the “middle” of the possible pay values for a job.
What is the 25th percentile in compensation?
Additional cash compensation excludes base pay, deferred compensation, and the monetary value of employee benefits. The 25th percentile marks where 25% of the reported values are lower than the figure given and 75% are higher.
What does lower quartile mean?
The lower quartile, or first quartile (Q1), is the value under which 25% of data points are found when they are arranged in increasing order. The median is considered the second quartile (Q2). The interquartile range is the difference between upper and lower quartiles.
What annual compensation means?
Annual compensation, in the simplest terms, is the combination of your base salary and the value of any financial benefits your employer provides. Annual salary is the amount of money your employer pays you over the course of a year in exchange for the work you perform.
What expected compensation?
When making your compensation expectation statement during an interview, consider offering high compensation as your answer. If you expect an amount close to what you researched, offering a higher amount can show your potential employer that you’ve researched and understand the industry.
How do you answer what is your expected compensation?
“Before answering this question, I would like to understand this job position and the expected responsibilities better. I would also like to know what is expected from me while I work here. As I have been working in a similar position for the past few months, I can gauge what my worth is.