How is the relative worth (pay rate) of a job determined?

Name: How is the relative worth (pay rate) of a job determined?
Brand: Quizplus
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Quizplus · Accepted Answer

The relative worth or pay rate of a job is primarily determined by the skill, effort, and responsibility needed to perform the job. This is typically evaluated through a job analysis and compared to market data to establish a competitive pay range. While factors such as impact on the company and pay equity can also play a role, they are typically secondary to the job's demands.

How Is the Relative Worth (Pay Rate) of a Job