In addition to the base remuneration point, each senior executive role has an individual discretionary remuneration range (see Appendix 1, Table 2). Effective 1 July 2021, the discretionary remuneration ranges for bands 1 to 3 are as follows:
- Band 1: up to $23,630
- Band 2: up to $35,445
- Band 3: up to $47,260
The maximum discretionary range for a senior executive role is obtained by adding the amount of the discretionary remuneration range for the relevant band to the base remuneration point for a senior executive role.
The maximum base remuneration point for a senior executive role is equal to the maximum remuneration for the band minus the maximum discretionary remuneration range for that band.
If the WVP for a role falls above or below the points range for the band, the following will apply:
- WVP is above the band range
The base remuneration point for the role is set at the point equal to the maximum remuneration for the band minus the maximum discretionary remuneration range for the band.
- WVP is below the band range
The base remuneration point is set at the minimum for the band. For example, a senior executive role classified under the work level standards as band 1 with a Mercer/CED job/role evaluation outcome of 660 would have the remuneration associated with a role evaluated at 670 of which is the bottom of the range for band 1.