University of Iowa faculty and staff will receive information about their estimated market zone value on Sept. 26, said Kevin Ward, the UI assistant vice president for Human Resources, at the UI Staff Council meeting Wednesday afternoon.

An employee’s market zone value is essentially the "going rate for that type of job," said Ward.

The information provided is part of the UI’s Compensation and Classification Redesign Project.

The plan consists of six different categories for pay level by using market data and research, as well as Buck Consultants, a company which UI Human Resources hired to help complete research for the project.

No additional funding will be provided to pay the UI faculty and staff through the program, said Ward. The system is simply to aid supervisors in making future salary decisions.

According to information handed out at the meeting, employees can find their market zone value on their ePersonnel file in Self Service on ISIS.

The first budget cycle will be in July 2012.

— by Allie Wright