Once you’ve evaluated your bands, you can edit your bands all at once in table view, chart view, or benchmark view to best reflect the market data and your band structure. For all edits, you can either apply these edits to the full band set, or select specific bands to make edits to just those bands.
Align band values to market data
Align the min/mid/max of your band to the composite benchmark or market data percentiles.
If you align the mid to the composite benchmark (most common), your band mid will update to your chosen composite benchmark, but your min and max will not change. To make an even band width on either side of the updated mid, you’ll need to adjust your band width (see band width edit).
If you align min, mid and/or max to a chosen percentile, your bands will match to the median of all market data associated with the band at that percentile, regardless of source. Only the percentile options that are associated with the band set will be available in the drop down.
For all “align band values to market data actions”, band width may become uneven during editing. You will need to update the band width afterwards to maintain an even band on either side of the mid.
You will receive an error if the min or mid is higher than the max and vice versa.
Create a smooth band progression
After you’ve aligned your band(s) to the market, you may want to keep a smooth progression from one band mid to the next by updating the midpoint progression.
What is midpoint progression? Why is it important?
- It’s the distance from one band mid to the next
- Helps you correct for variability in band midpoints (caused by variability in market data)
- Applies the same progression logic and band width to all bands in the family
How do you use midpoint progression?
- To create a smooth midpoint progression, you will need to select only a single ladder, either by filtering down to one ladder, selecting bands in a ladder, or moving to chart view. To adjust the midpoint progression of your bands, select the pay types and midpoint progression you want to set for this ladder.
- You can choose to use an anchor band or not. If not, the midpoint progression will go from the bottom of the ladder to top of the ladder midpoint progression, and the band width will be based on the band at the bottom of the ladder. We recommend anchoring your midpoint progression off of a specific band that you feel most confident in or has the most number of market data points (e.g. SWE - IC - L3). Then, the midpoint progression of the levels above and below will be based on that anchor band’s midpoint and band width.
- Note: if you are missing a level in your band structure (e.g. only have a L1 and L3) your midpoint progression will reflect the distance from the mid of L1 to the mid of L3, not the mid of L1 to the mid of L2.
Update your band width to ensure even bands
After you’ve aligned your bands to the market and before and/or updated midpoint progression, you may want to update your band width to update the min/max of the band.
- The % above and below the mid
- The $ amount from min to max
Adjust band values
Increase or decrease the bands by a specific % amount
Round bands so they are even
- Round bands to the nearest 100, 500, etc.
- By checking constant rounding, bands will be rounded to the selected value after every additional bulk edit.
- Note: The bands will be rounded to the nearest selected amount, rather than rounding up or down. For example, if the value is $100,140 and you round to the nearest 100, the number would be updated to $100,100 not $100, 200
Undo, Redo, Delete
Undo your most recent edit
- Allows you to revert to the values that you had before your most recent edit, including bulk edits and manual edits
Redo your undone edit
- Allows you to reapply an undone edit, in the same order you undid that edit
- If you undo and then make a bulk edit, your redo will no longer apply
- If you click delete, the selected bands will be deleted.
- You can undo the deletion, by clicking “undo”
What to do next
As you make edits and before you save the bands, you should View Changes.
Note: For all edits, once they have been saved, you can not return to the previous version of the bands.