Your Week 2 Assignment is a 300400 word essay on a topic cov

Your Week 2 Assignment is a 300-400 word essay on a topic covered in your reading this week. Your essay should:

Have an introduction, body, and conclusion

Have a minimum of 2 sources (your text and at least 1 additional internet source)

Sources should be cited and referenced in APA style

Essay Topic:

Compensation data for numerous jobs are more available due to the existence of various websites. The website of www.salary.com provides pay data for numerous jobs in different companies in different industries in different cities throughout the U. S. This case challenges students to apply their understanding of the key concepts of internal alignment and external competitiveness to actual pay rates for specific jobs.

After examining the website, answer the following questions in your response:

1. Which jobs are paid more or less? Is this what you would have expected? Why or why not? What factors could explain the differences in the salaries?

2. Do the jobs have different bonuses as a percentage of their base salaries? What could explain these differences?

3. How could you use this information while negotiating your salary in your job after graduation? What data would you provide to support your \"asking price?\" What factors will influence whether or not you get what you ask for?

Solution

1. The jobs involving specific skills and subject expertise command higher salaries than those requiring common qualifications and no specific domain knowledge. For example, the salaries for roles like computer programmer, Engineering expert or data scientist are considerably higher than those for a customer care executive or a hotel steward. The differences was expected owing to the strategic importance of the jobs for the company, rigour and skillfulness of work an demand supply gaps .The factors that affect the salaries are availability of skills in the market, importance of role for the company, payment norms of the industry in the job market and dependency of the company on the functions of a particular job.

Certain jobs which directly affect the revenue of the company involve a profit sharing part which may come in form of the bonus or incentives in addition to the base salary. For example, a sales executive who brings in the business, also gets an incentive per unit of business brought by him / her in addition to the base salary. This provides motivation to work more efficiently and bring greater numbers.

An entry level job needs specific work related skills in addition to the aptitude for doing the job, attention to details, communication skills and interpersonal skills with good academic record. For getting good salary, one needs to perform well in aptitude test, personal interview and psychometric tests while having a good academic record and extra curricular interests. A good performance in above counts can help to negotiate a good salary. Getting the same will depend upon a match between company\'s requirements from a potential candidate with the applicant.