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Fundamentals of Human Resource Management 5th Edition by Raymond Noe, John Hollenbeck, Barry Gerhart, Patrick Wright
Edition 5ISBN: 9780077515522Fundamentals of Human Resource Management 5th Edition by Raymond Noe, John Hollenbeck, Barry Gerhart, Patrick Wright
Edition 5ISBN: 9780077515522 Exercise 18
Management, Professional, Technical Occupations Are the Highest Paid
Looking at broad occupational categories, the highest pay goes to managers, followed by members of the legal profession and experts in computers, mathematics, architecture, and engineering. The lowest-paid occupational groups involve providing services such as food preparation, personal care, and building maintenance.
The pay rates shown in the graph are for the median worker in each category (half the workers earn more, and half earn less). However, keep in mind that the range of earnings for an occupational category may be great. In sales, for example, median earnings range as low as $18,670 for models and $18,820 for cashiers and as high as $89,330 for sales engineers. The overall median is low because there are many more cashiers than sales engineers.
If a company were to hire a new human resource manager, would the $92,880 figure shown here for management be an appropriate rate of pay? Why or why not?
SOURCE: Bureau of Labor Statistics, "Occupational Employment Statistics: May 2011 Occupational Employment and Wage Estimates," last modified March 27, 2012, http://www.bls.gov, accessed April 11, 2012.
Looking at broad occupational categories, the highest pay goes to managers, followed by members of the legal profession and experts in computers, mathematics, architecture, and engineering. The lowest-paid occupational groups involve providing services such as food preparation, personal care, and building maintenance.
The pay rates shown in the graph are for the median worker in each category (half the workers earn more, and half earn less). However, keep in mind that the range of earnings for an occupational category may be great. In sales, for example, median earnings range as low as $18,670 for models and $18,820 for cashiers and as high as $89,330 for sales engineers. The overall median is low because there are many more cashiers than sales engineers.
If a company were to hire a new human resource manager, would the $92,880 figure shown here for management be an appropriate rate of pay? Why or why not?
SOURCE: Bureau of Labor Statistics, "Occupational Employment Statistics: May 2011 Occupational Employment and Wage Estimates," last modified March 27, 2012, http://www.bls.gov, accessed April 11, 2012.
Explanation
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If a company were to hire new Human Reso...
Fundamentals of Human Resource Management 5th Edition by Raymond Noe, John Hollenbeck, Barry Gerhart, Patrick Wright
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