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Earnings based on Location & Benefits

- Look up your current or former job title, and compare the earnings for that title in various parts of the country. Determine what factors might create a disparity for specific geographic regions and what effect this could have on employee motivation.
- Evaluate how helpful this Website might be to employers and the type of data that could be used to increase the fairness of compensation practices.
- From the employer's perspective, assess the impact of the legally required benefits upon additional benefits it might choose to offer employees.
- In terms of discretionary benefits, prioritize those you believe to be most desirable among today's employees.

Solution Preview

The average salary for a corporate buyer averages $58,3600 but there is a variation depending upon location. Connecticut's corporate buyers were compensated the most, at $92,790. New Jersey's corporate buyers were compensated at an annual mean wage of $69,210, New York was also high at $66,540, while the New Mexico average mean wage was $47,020 for corporate buyers. The state with the highest employment level in this occupation was California, and the annual mean wage was $56,240 in this state. There is a definite discrepancy in wages, based on geographical regions. The salary appears to be most impacted by cost of living. Companies must pay a larger rate in some areas to compete with the labor force and keep up with the area's standard of living. Connecticut, New York, New Jersey have higher costs of living than New Mexico. Industry type also impacts the salary, with petroleum and petroleum product wholesale buyers, fashion buyers, electric power buyers making more money than grocery product ...

Solution Summary

This solution compares the earnings for a particular position in various parts of the country. It determines the factors that might create a disparity for specific geographic regions and what effect this could have on employee motivation. It also evaluates how helpful this Website might be to employers and the type of data that could be used to increase the fairness of compensation practices. It describes, from the employer's perspective, the impact of the legally required benefits upon additional benefits it might choose to offer employees. It also prioritizes discretionary benefits believed to be most desirable among today's employees. APA reference included.

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