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BUS301 Human Resource Management

Published : 28-Sep,2021  |  Views : 10

Questions:

This site provides free data on jobs, including job description, annual salary by zip code, distribution by quartiles of salary amounts, info on benefits, and so forth. The basic information that an organization would get if it bought a salary survey from a consultant or conducted its own salary survey can be found here.

This site provides pay data on hundreds of jobs in cities all over the U.S. in many different industries

Identify several jobs (at least three) of interest to you, such as accountant, financial analyst, product manager, stockbroker, or manager compensation. Select specific cities or use the national average. Obtain the median, the 25th and 75th percentile base wage, and the total cash compensation rates for each job and then Answer the questions

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?

Do the jobs have different bonuses as a percentage of their base salaries? Why, or why not? What could explain these differences?

Do the data include the value of the stock options? What are the implications of this?

Read the job descriptions. Are they accurate descriptions for jobs that you would be applying for? Why, or why not? Are there jobs for which you cannot find an appropriate match? Why do you think this is the case?

Check out pay levels for these types of jobs in your school's career office or other local or regional source. How does the pay for jobs advertised in your career office or other local or regional source differ from pay levels from other sources? Why do you think these differences exist?

How do you use this information while negotiating your salary in your job after graduation or when you apply for a different job? What data would you provide to support your asking price? What factors will influence whether or not you get what you ask for?

What is the relevant labor market for these jobs? How big are the differences between salaries in different locations?

Answers:

1.Salary difference exists in the labor market occasioned by several aspects. Individuals may have differences in pay based on location, type of career and the level of competence one has in a career. In this respect, it looks into the issues that might affect one’s chances of employment and the need for a proper job description.  

2.The study took into consideration the pay of a nurse versus that of a teacher in two different locations each having a teacher and a nurse. The results indicated my exact expectation as there were pay differences among the professionals with each varying according to the profession as well as the location of an employee (Salary.com, 2017). The bonuses on the salaries differ depending on the difficulty of a task and the risks involved as well as the environment of operation (Bischoff & Reardon, 2014).

3.The value of stock options does not exist in the description. The implications of this result in the ability of employees to work diligently and take the company as their own where it reduces the dedication level and sense of belonging to a given organization.  

4.The job description for the different professions differs according to specialization and tasks to be performed. For instance, the nurses in the two locations have their job cut out according to the patients to be attended. The descriptions are accurate as they offer the exact thing to be done and the necessary skills to be employed therein. In the survey, there are some jobs that cannot be found in specific locations.

5.In the career office, the pay levels in the different regions differ depending on the tasks and people to be served. The existing differences result from the varying living costs which determine the ability of employees to secure housing and other life commodities (Muench, Sindelar, Busch & Buerhaus, 2015).

6.There are no big differences in the jobs advertised within the school facility and those out of the venue as most factors resemble as well as the pay levels according to the fair compensation act in this respect; it seems all the employees’ research before coming up with the pay levels for recruitment and selection.      

7.The probability of being selected for the different jobs depends on the education level and the level of competence one would display during the interview (Freund, Raj, Kaplan, Terrin, Breeze, Urech & Carr, 2016). A large market exists for the two professions since there are more schools as well as hospitals in need of the labor from the professionals. However, the demand status of the labor remains mostly available and thus would lead to more recruitment opportunities.

8.The difference in salaries between states remains relatively small as the major differences exist on the allowances given to individuals. Careers that demand a lot of tasks and handling tend to have high salaries which differ from one location to the other. For instance, nurses in areas with high population receive higher salaries according to the labor needed.

Conclusion

Salaries differ based on different factors such as regional differences and the tasks to be conducted therein. The probability of individuals relies on the extra mile that one bears in addition to the required standards of a job upon advertisement.

References

Bischoff, K., & Reardon, S. F. (2014). Residential segregation by income, 1970-2009. Diversity and disparities: America enters a new century, 208-233.

Freund, K. M., Raj, A., Kaplan, S. E., Terrin, N., Breeze, J. L., Urech, T. H., & Carr, P. L. (2016). Inequities in academic compensation by gender: a follow-up to the National Faculty Survey cohort study. Academic medicine: journal of the Association of American Medical Colleges, 91(8), 1068.

Muench, U., Sindelar, J., Busch, S. H., & Buerhaus, P. I. (2015). Salary differences between male and female registered nurses in the United States. Jama, 313(12), 1265-1267.

Salary.com. (2017). Compare jobs. Retrieved from https://swz.salary.com/SalaryWizard/LayoutScripts/Swzl_CompareJobs.aspx?jobkeyword=doctor&location=HAWAIIAN%20GARDENS,%20CA

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