The 60th Percentile
The 60th percentile (P60) is where 60% of similar external positions surveyed have job rates (salary range maximums) paying at or below that of other positions in the survey sample.
Example:
External Organizations Surveyed |
Similar Position Job Rates |
Employer 1 |
$73,026 |
Employer 2 |
$71,225 |
60th Percentile |
$69,045 |
Employer 3 |
$68,500 |
Employer 4 |
$65,054 |
Employer 5 |
$64,474 |
Employer 6 |
$63,604 |
To calculate the 60th (P60) Percentile:
Steps
1. Take the total number of organizations surveyed and add one (6+1 = 7)
2. Multiply the total by .60 (7 x .60 = 4.2) to determine the P60 job rate.
In this scenario, P60 is equal to the fourth (4) highest job rate plus (.2) so you proceed to:
3. Subtract the 4th job rate ($68,500) from the 5th job rate ($71,225)
4. Multiply the difference ($2,725) between the 4th and 5th job rates by .2 ($545)
5. Add the difference ($545) between the 4th and 5th job rates to the 4th job rate ($68,500) to determine P60 ($69,045)