Standard rates and premium pay codes

Standard rates are used as default rates for a work plan. The following rules apply to standard rates:

• You can specify a standard rate as a general rate for a craft.
• You can specify standard rates for each skill level within a craft.
• You can establish standards rates for external vendors (with or without labor contracts) for crafts and for skill levels within a craft.

You can define premium pay codes to reflect situations in which the cost of the labor that is being reported needs to be increased, such as overtime pay, skill pay, or hazardous duty. The following rules apply to premium pay codes:

• Before you can associate premium pay codes with a craft, you must define the premium pay codes.
• You can establish any number of premium pay types and rates for each craft record.
• Premium pay can be calculated as a multiplier, an increment, or as an hourly amount.
• If a premium pay code is defined as applying to all new crafts, the pay code is displayed in the Premium Pay table window of new crafts.