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Compensation: Salaries
How Much Are You Worth?
Following a reading of some of the articles below and after conducting your own web-based search respond to the following questions, citing at least 3 sources (from the articles below) in making your arguments and responses:
Answer the questions below by writing paper.
1. Calculate what you are worth according to the salary indicators. Are there differences in comparisons of where you live and other cities: in your state? in your region? in the U.S.?
2. Do you think you achieve equity with what you are paid? On what basis do you make your assessment (i.e., what factors do you consider in calculating what you are worth compared to others? Who are these others?)?
3. How do you adjust for inequities in base salary? What are employees' reactions (positive and negative) that sometimes occur when they feel there are inequities?
Start by reading the article from About.com by visiting http://jobsearch.about.com/library/weekly/aa022700a.htm.
This web-site is linked to an entire set of resources including:
Salary Surveys:
? http://jobsearch.about.com/library/blsalary2.htm
? http://jobsearch.about.com/cs/salarysurveys/index.htm
Salary Information and Resources:
? http://jobsearch.about.com/cs/salary/index.htm
Other Articles are:
AFL-CIO. (2004). Executive paywatch [web-site].
http://www.aflcio.org/corporateamerica/paywatch/
Baker, Thomsen Associates. (2004). Salary [web-site]. http://www.salaryexpert.com/
Chernish, B., Terry, J., & Chisholm, J. (2003). Human resource management computers in the humanities honors. PowerPoint presentation http://www.uh.edu/writecen/faculty/Chernish/10-compensation.pdf
Downer, P. (1999). Employee compensation. PowerPoint presentation. http://www.busi.mun.ca/pdowner/7610.employee compensation.ppt
Doyle, A. (2004). How much are you worth? http://jobsearch.about.com/library/weekly/aa022700a.htm
Johnson, N. B. (1997). Compensation. PowerPoint presentation. http://gatton.uky.edu/Faculty/johnsonn/MGT320/pp/compensation.ppt
McNamara, C. (1999). Employee benefits and compensation. http://www.mapnp.org/library/pay_ben/pay_ben.htm
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Solution Summary
A respondant's summary of personal salary analysis including comparisons to regional averages and calculated worth.
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My current position is as a sales account executive for a small retail company. I manage 6 employees and $2,000,000 worth of accounts annually and report directly to the CEO. I work approximately 48 hours per week on a salary/bonus basis. I have a company car and have to fly to conferences only 2-3 times per year (travel is very minimal). The job is based in Chattanooga, TN.
Last year my salary was $39,000 with bonuses totalling $11,000. Including my company car, my total benefits package was valued at about $53,000.
According to the salary calculator at salary.com, the median package for my type in my town is $62,926 (1). According to the same information, adjusted for regional differences, the following is stated as the medians by city:
Nashville, TN $65,144 (2)
Atlanta, GA $68,287 (3)
New York, NY $80,749 (4)
As is apparent, I live in a city with a relatively low cost of living.
The more advanced calculator (5) allows for more inputs such as years on the job, education, etc. and is, I believe, a more valid ...
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