In Settings ▸ Roles, you have a list of team roles that will be used in team schemes and price lists.
Typical IT service company team roles are junior developer, middle developer, senior developer. Or more generic roles, like developer, designer, QA engineer, business analyst etc.
Team schemes will use roles for employees grouping. And in price lists, you could set an hourly rate for each role.
You can create, edit or delete any role in the list: