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PFIN 2nd Edition by Lawrence Gitman ,Michael Joehnk,Randall Billingsley
Edition 2ISBN: 978-1111821999PFIN 2nd Edition by Lawrence Gitman ,Michael Joehnk,Randall Billingsley
Edition 2ISBN: 978-1111821999 Exercise 2
Evaluate the impact of age, education, and geographic location on personal income.
Explanation
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Impact of age, education, and geographic location on personal income:
Earning large income is not an easy; it is a very big hard task. Suppose people who earned low incomes will come under very young or very old age groups. Therefore, earning high-income will depends upon age level, education, geographical location, hard work, dedication, commitment and a well-thought-out set of financial plans.
Therefore, all the above said factors will definitely have some impact on personal income. The pay structure of an employee is also varying from employee to employee based on the age, education, experience and according to the location. Basically the salary structures will be very high in metro cities, because more people lived there and the cost of living is also more.
Earning large income is not an easy; it is a very big hard task. Suppose people who earned low incomes will come under very young or very old age groups. Therefore, earning high-income will depends upon age level, education, geographical location, hard work, dedication, commitment and a well-thought-out set of financial plans.
Therefore, all the above said factors will definitely have some impact on personal income. The pay structure of an employee is also varying from employee to employee based on the age, education, experience and according to the location. Basically the salary structures will be very high in metro cities, because more people lived there and the cost of living is also more.
PFIN 2nd Edition by Lawrence Gitman ,Michael Joehnk,Randall Billingsley
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