job evaluation

"A systematic assessment of job content. It establishes the worth of a job in terms of salary or wage compared to other jobs. Many elaborate schemes have been developed and applied with varying degrees of success. While some structure is necessary on a project, pay is more likely to be governed by market conditions, scarcity, individual knowledge, performance or trade agreements. These factors generally also recognize such project aspects as higher stress, cyclical work loading and potential for termination upon completion. See also Job Description.

SOURCE: apm.org"