Compensate Exercise
Work on determining a market rate for a particular job. Review the posted job description for Administrative Assistant II in the Week 4 Assignment folder under the assignments tab. First, access the website, Salary.com. Once there, you will gather salary information on this specific job: Administrative Assistant II.
Obtain salary information for the cities of Boston, MA, Omaha, NE, and San Diego, CA. After gathering this information, answer the following questions:
What is the difference between the median base salary for the job in each of these cities and the national average? What does this suggest about the concept of relevant labor market when seeking salary information on jobs? What other factors besides geography would be important to consider in determining a relevant labor market?
Does the job have different bonuses as a percentage of base salary? If so, what could possibly explain these differences?
Does the data contain the value of stock options? What are the implications of this?
Does the job description for Administrative Assistant II appear adequate and accurate? Does it accurately reflect the responsibilities and qualifications of the position?
The information provided free on Salary.com does not indicate the minimum and maximum of pay grades in each city. So, if one wanted to compare the median salary in each city with the high and low averages in each city, how might one use this free information to make an estimate of the variation in the range of pay across the three cities?
How does this website say that the salary data is developed or calculated? Do you think it provides enough information? Why or why not? What are some of the factors that might impair the accuracy of these data?
