Wage Comparison Exercise
1. What is the relevant labor market for these jobs? How big are the differences between salaries in different locations?
2. For each job, compare the median salary to the low and high averages. How much variation exists? What factors might explain this variation in pay rates for the same job?
3. Look for a description of how these salary data are developed. Do you think it provides enough information? Why or why not? Discuss some of the factors that might impair the accuracy of these data. What are the implications of using inaccurate salary data for individuals or companies?
4. With this information available for free, why would you bother with consultant’s surveys?
5. If you were a manager, how would you justify paying one of your employees either higher or lower than the results shown on this Web site?
| |25% |Median Salary |75% |Bonus | |Project Manager |55,697 |65,689 |76,571 |2.2% | |Human Resource Assistant |30,877 |34,994 |39,433 |0.7% | |International Human |96,085 |111,444 |134,096 |4.9% | |Resources Manager | | | | |
1. Wage Ranking: International HR Manager > Project Manager > HR Assistant All salaries accord with my expectation. The wage represents the requirements of each position. For example, HR Assistant earns less because it is an entry level position. The requirements of experience and education background are lower than the others.
2. The bonus percentages are listed in the table above.
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