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Any monthly rate of pay may be converted into any equivalent rate of pay or to any other time basis when, in the judgment of the City Manager, such a conversion is advisable. In determining the equivalent amounts on different time basis, the City Manager shall provide tables or regulations for use in converting monthly salaries to hourly rates, as well as for calculating hourly rates. 7.10 Salary Advancement Permanent and probationary employees serving in regular established positions shall be advanced from the Initial Placement Step to the next Step in their respective classifications after completion of twelve (12) months of full time satisfactory service, and thereafter shall be advanced to the next higher step after completion of one (1) year of full-time satisfactory service, in each of the salary steps for the classification until the top of the range is reached. No salary advancement shall be made so as to exceed any maximum rate established in the pay plan for the class to which the advanced employee's position is allocated. Advancements shall not be automatic but shall depend upon increased service value of an employee to the City as exemplified by recommendations of his/her supervising official, length of service, performance record, special training undertaken, or other pertinent evidence, within the advancement policy established by the pay plan. Any employee shall not normally be eligible for advancement in pay until he/she has successfully completed his/her probationary period, or any extension thereof, as provided in Section 19. Changes in an employee's salary because of promotion or demotion establish a new salary anniversary date for that employee. Salary range adjustments for a classification will not establish a new salary anniversary date for employees serving in that classification. 7.11 Salary Step When Salary Range is Increased Whenever the monthly schedule of compensation for a class is revised, each incumbent in a position to which the revised schedule applies shall be entitled to the step in the revised range which corresponds to the step held by him/her in the previous range. 7.12 Salary Step After Promotion or Demotion When an employee is promoted from a position in one class to a position in a higher class, he/she shall receive the minimum rate for the higher class; provided, however,that such step is at least five percent(5%) above his/her current wage rate. When an employee is demoted, whether such demotion is voluntary or otherwise, that employee's compensation shall be adjusted to the salary prescribed for the class to which he/she is demoted. The specific rate of pay within the range shall be determined by the City Manager, whose decision shall be final; provided, however,that the employee's rate of pay shall not be set at a lower rate than he/she would have received had he/she remained in the lower class. Section 8. Overtime 8.1 Shift Extension Overtime Employees who are required to work in excess of their regular work day shall be entitled to overtime compensation for all hours so worked; provided, however, that the overtime rate shall 6