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Remuneration & Benefits Guide 2015-2016

Appendix 1   Senior executive bands 1 and 2 total remuneration package formula (effective 1 July 2015)

NOTE:   Public Service senior executives receive a TRP, not a salary. A TRP is the total amount which is to be paid to a senior executive out of which the senior executive is required to pay the employer contributions to superannuation. Any reference to remuneration in the tables below is to a TRP.


Mercer/CED formulas & example calculations

Band 1 base remuneration formula = 167.602 x work value point + 62207
(Mercer/CED work value point range for band 1 is 670 to 989)

Work value points (examples)

Base remuneration (from formula)

Discretionary remuneration range applied

Maximum remuneration (formula + range value)

670

 $ 174,500

$20,885

 $195,385

680

 $ 176,176

$20,885

 $197,061

686

 $177,182

$20,885

 $198,067

721

 $183,048

$20,885

 $203,933

756

 $188,914

$20,885

 $209,799

796

 $195,618

$20,885

 $216,503

800

 $196,289

$20,885

 $217,174

824

 $200,311

$20,885

 $221,196

883

 $210,200

$20,885

 $231,085

954

 $222,099

$20,885

 $242,984

989

 $227,965

$20,885

 $248,850


Band 2 baseremuneration formula = 67.915 x work value point +181615
(Mercer/CED work value point range for Band 2 is 990 to 1474)

Work value points (examples)

Base remuneration (from formula)

Discretionary remuneration range applied

Maximum remuneration (formula + range value)

990

 $248,851

$31,328

 $  280,179

1000

 $249,530

$31,328

 $  280,858

1150

 $259,717

$31,328

 $  291,045

1164

 $260,668

$31,328

 $  291,996

1200

 $263,113

$31,328

 $  294,441

1250

 $266,509

$31,328

 $  297,837

1300

 $269,905

$31,328

 $  301,233

1350

 $273,300

$31,328

 $  304,628

1474

 $281,722

$31,328

 $  313,050