“Pay rate TBD” indicates that the salary for a position is contingent on experience. Typically, this warning will be included in a job posting without a pay range; however, sometimes a range will be provided.
When a corporation lists a position without a salary, it has more negotiating power in regards to compensation. By posting a position with a compensation range, a corporation is able to select away applicants who would not find the maximum income acceptable. As the position’s level increases, the salary range increases. For example, executives earn a wide range of compensation, while entry-level workers receive a considerably narrower range.