Which argument likely reflects the statement "Professors are paid less than lawyers and doctors,but have similar amounts of education"
A)Education is not likely to be related to compensation.
B)Professors are affected by a compensating wage differential.
C)The jobs of doctors and lawyers provide more job satisfaction than the jobs of professors.
D)Professors must receive an equivalent wage differential.

Question

Quizplus · Accepted Answer

The concept of compensating wage differential suggests that individuals are willing to accept lower wages for jobs that offer non-monetary benefits, such as job satisfaction or a desirable work-life balance. In the case of professors, they may accept lower pay than lawyers and doctors because they value the non-monetary benefits of their job, such as flexible schedules or opportunities for research and publication. Therefore, the argument that professors are paid less than lawyers and doctors, but have similar amounts of education can be explained by the compensating wage differential.

Which Argument Likely Reflects the Statement "Professors Are Paid Less