Hrm598 Case Study 2
HRM 598
Case Study: Getting and Using Compensation Information
“Compensation is a systematic approach to providing monetary value to employees in exchange for work performed. Compensation may achieve several purposes assisting in recruitment, job performance, and job satisfaction. Compensation is a tool used by management for a variety of purposes to further the existence of the company. Compensation may be adjusted according to the business needs, goals, and available resources.” The three careers I chose for this case study are Public Relations Specialist, High School Teacher, and Project Coordinator. The reason for me choosing these specific careers was that I’ve held each one at some point in time. In this case study we will examine why each job has different salary ranges and why.
Question #1 Doing this research I’ve come to find that out of the three jobs that I selected, a project coordinator is paid the most on average. The project coordinator is paid $89,509 a year on average. I was shocked to find out that out of the three careers chosen, that a public relations specialist is paid the least of all three. The public relations specialist on average is paid $45,931 a year. I expected that the project coordinator position would be the highest paid out of the three, however I did not expect for the teacher to be paid more ($53,447 a year on average) than the public relations specialist. I expected the teacher to be paid the least of all three. Usually teachers are thought to be paid the least when comparison to other professions. Some factors that could play a part in the difference could be number of days worked (teachers usually have a 9 month work year), levels of responsibility the job carries (project coordinators are generally in charge of seeing an operation through from beginning to end) whether or
Case Study: Getting and Using Compensation Information
“Compensation is a systematic approach to providing monetary value to employees in exchange for work performed. Compensation may achieve several purposes assisting in recruitment, job performance, and job satisfaction. Compensation is a tool used by management for a variety of purposes to further the existence of the company. Compensation may be adjusted according to the business needs, goals, and available resources.” The three careers I chose for this case study are Public Relations Specialist, High School Teacher, and Project Coordinator. The reason for me choosing these specific careers was that I’ve held each one at some point in time. In this case study we will examine why each job has different salary ranges and why.
Question #1 Doing this research I’ve come to find that out of the three jobs that I selected, a project coordinator is paid the most on average. The project coordinator is paid $89,509 a year on average. I was shocked to find out that out of the three careers chosen, that a public relations specialist is paid the least of all three. The public relations specialist on average is paid $45,931 a year. I expected that the project coordinator position would be the highest paid out of the three, however I did not expect for the teacher to be paid more ($53,447 a year on average) than the public relations specialist. I expected the teacher to be paid the least of all three. Usually teachers are thought to be paid the least when comparison to other professions. Some factors that could play a part in the difference could be number of days worked (teachers usually have a 9 month work year), levels of responsibility the job carries (project coordinators are generally in charge of seeing an operation through from beginning to end) whether or
Bibliography: 1.) www.salary.com 2.) http://smallbusiness.chron.com/managers-justify-paying-employees-high-low-14526.html 3.) http://swz.salary.com/docs/salwizhtmls/methodology.html 4.) http://smallbusiness.foxbusiness.com/legal-hr/2011/04/25/picking-best-pay-structure-business/ 5.) http://www.mde.k12.ms.us/school-financial-services/school-financial-services-teacher-salary-schedule 6.) http://money.usnews.com/careers/best-jobs/public-relations-specialist 7.) http://www.indeed.com/salary/Program-Coordinator.html 8.) http://www.wikipedia.org/