Pay for similar jobs do not vary across different labor markets.

Question

Quizplus · Accepted Answer

Indeed,there is variation across different labor markets.For example,the cost-of-living is higher in large,urban communities and the competition for the best employees is higher in large,urban areas where there are more companies competing for the best.It behooves HR professionals to consider these and other differences because the market rate is an important guide in determining pay.Many employees view it as the standard for judging the fairness of their firm's compensation practices.

Pay for Similar Jobs Do Not Vary Across Different Labor