What is Standard Occupational Classification, wage level?

The Standard Occupational Classification (SOC) is the US federal statistical standard that assigns every worker to one of 867 detailed occupations; 13-2099.01 is “Financial Quantitative Analysts”. A wage level is one of four prevailing-wage levels an application is assigned to: I (entry), II (qualified), III (experienced) and IV (fully competent), chosen from the job’s requirements.