Inaccurate Salary Data
Compensation data for numerous jobs are more available due to the existence of various websites. The website of www.salary.com, www.glassdoor.com and other sites provide pay data for numerous jobs in different organizations in different industries in different cities throughout the U.S. For this DQ, you will select a job and explore the salary data for this position. Answer the following questions: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?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?What is the relevant labor market for these jobs? How big are the differences between salaries in different locations?What factors can shape an organizational external competitiveness?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?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?With this information available for free, why would you bother with consultants’ surveys?If you were a manager, how would you justify paying one of your employees either higher or lower than the results shown on this website? for more information on Inaccurate Salary Data check on this:https://en.wikipedia.org/wiki/Salary_survey
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