Among the different jobs like accountant, financial analyst, product manager, and stockbroker, the product managers are paid more and the stockbrokers are paid less. These professionals get the expected salary. Basically, the salary for each job is based upon the employee’s performance, output, designation, etc. The product manager gets good and high salary than the stockbroker because the product manager occupies the top position in the job hierarchy. The product manager has an important role in the organization and the entire activities of the business are managed by the product manager. The stockbroker does not have the powers or status of product manager and he occupies the lowest position in the job hierarchy.
All these jobs attract bonuses as a percentage of basic salary, but the percentage of bonus given for each job is different. The organization fixes a definite amount for distribution as a bonus. Then, the bonus is given in relation to the experience, performance, demand, etc of the employees. The different types of bonuses are decided based on the range of the employee’s salary.
The data include the value of the stock option. Stock options are given as a bonus to the employees. This helps increase the income of the employees.
The description of every job is accurate except about experience. There is a need for experience, but the company should not give much importance to experience, because experience is only a base for entering into a job. An employee should be evaluated based on his talent and skill.
There is a difference in the pay level of the school’s career office, and the pay levels on salary.com. The career office is not giving good salaries to the employees as said on the site because the school is not a big organization.
The information provided by different sources about salaries can be used for the negotiation of salary for a job. The present salary range in the labor market can be used for the negotiation. There is no certainty that an employee will get the salary that he had claimed. The salary will depend on factors like experience and performance. An employee may be given the salary demanded by him, only if he contributes some profit to the organization.
The labor market depends on the demand for jobs, the salary of the jobs, the number of employees working in different fields, etc. The product manager has the highest labor market than all the other jobs because the salary is the highest for this job. The labor market for a financial analyst is less than that of a product manager. The third position is for an accountant and the last for a stockbroker. The salary rates show a big difference depending on cities, metros, etc.
For the stockbroker, the median salary is $21679.5 and the average salary is $21841.5. The median salary for an accountant is $42189 and the average salary is $42447. The financial analyst has a median salary of $48061.5 and an average salary of $47892.5. The product manager has a median salary of $98143.5 and an average salary of $95047. This shows that there is a small variation between the median salary and the average salary. The variation in salaries of the same job is due to the fact that salary varies depending on experience, performance, etc. The data provides only an approximate salary range of all the jobs. Depending on the companies, the salaries can vary. The data can be destroyed if the companies start paying salaries more than the estimated results and also if the companies pay the employees based on their experience, performance, skills, etc. If the data available is inaccurate, the companies and individuals will not have proper knowledge about the salaries that should be paid or received for a particular job.
The consultant surveys help in collecting data about any organization. It helps in ensuring that the knowledge gained is right.
The salaries of different jobs can be based on the output of an employee. The performance of more experienced employees is usually higher. Thus, the payment of low or high salaries on the basis of experience and productivity can be justified by a manager.