Ratecards: What does the message “You have selected a Job Title with a Rate Card” mean when adding a Booking?

What does the message “You have selected a Job Title with a Rate Card” mean when adding a Booking?

When you add a Booking, you see the following message:

This means the job title you have selected has a Rate Card already setup, so you do not have to change the default Pay and Charge Rates when adding the booking, unless you want to override the Rate Card.