Compa Ratio formula

Hi,

Please can someone help me show me how to calculate compa ratio?

For example

Employee one
Base salary is £45,000
Market mid point is £43,000
FTE is 0.8

Should the formula be Market mid point/Base salary *100 = xx% but what about if someone FTE is 0.8 and 1 (assuming 1 = 2080 hours)

Many thanks
S

Compa-ratio is calculated as the employee's current salary for a specified position, divided by the current market rate for that specified position, as defined by the company's competitive pay policy.