...3-2 Careers in IT Journal: Salary Position: Information Technology (IT) Project Manager According to the Bureau of Labor and Statistics website (newsletter) they do not keep specific information on project manager’s earnings. However, what they do indicate is that project managers salaries are based on the level of education and experience and can differ based on their regional locations. (DeVincenzo, 2006) I would suspect that a survey conducted by the Project Management Institute (PMI) in 2006, would hold true for most jobs nationally. They found that experience is a determining factor regarding salaries and most entry level positions provided a lower earning scale for the full time project managers which gave a median annual salary of $96,000, including salary and bonuses. As a nationwide median and not specific to my location it still indicates that at least 50% make more than $96,000 and the other 50% make less. (DeVincenzo, 2006) Further research regarding IT Project Managers seems to reveal some question regarding earnings and certification, do IT Project Manager need additional education and certification in order to make more money and leapfrog to higher paying positions? According to a study done by CIO.com they believe certifications is the only way an IT PM will first, get hired and second, be considered for the higher salary ranges. The survey found that more and more CIO’s believe that certifications are important and valuable for a project manager...
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...Milkovich−Newman: Compensation, Eighth Edition Front Matter 1. The Pay Model © The McGraw−Hill Companies, 2004 Chapter One The Pay Model Chapter Outline Compensation: Definition, Please? Society Stockholders Managers Employees Global Views—Vive la différence Forms of Pay Cash Compensation: Base Cash Compensation: Merit Pay/ Cost-of-Living Adjustments Cash Compensation: Incentives Long-Term Incentives Benefits: Income Protection Benefits: Work/Life Focus Benefits: Allowances Total Earnings Opportunities: Present Value of a Stream of Earnings Relational Returns from Work The Employment Relationship Combines Transactional and Relational Returns Variations in Transactional and Relational Expectations A Pay Model Compensation Objectives Four Policies Pay Techniques Book Plan Caveat Emptor—Be an Informed Consumer 1. Does the Research Measure Anything Useful? 2. Does the Study Separate Correlation from Causation? 3. Are There Alternative Explanations? Your Turn: Glamorous Internships? or House Elves? A friend of ours writes that she is in one of the touring companies of the musical Cats. In the company are two performers called “swings” who sit backstage during each performance. Each swing must learn five different lead roles in the show. During the performance, the swing sits next to a rack with five different costumes and makeup for each of the five roles. Our friend, who has a lead in the show, once hurt her shoulder during a dance number. She signaled to someone...
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...Case Analysis: When Salaries Aren’t Secret Case Summary RightNow!, a retail chain specializing in women’s clothing, led by ◦ Hank Adamson as CEO. ◦ Charlie Herald as the VP of HR and ◦ Harriet Duval as the CFO. Someone exposes the salaries of all 165 employees via email. Since RightNow! Was exapanding fast, they hired people at a wide range of salaries; making the new salaries disparate from existing ones. Immediate reaction of employees - comparing each other on the basis of pay. Several started contacting HR to discuss disparity in pay. Charlie and Harriet come up with two opposing views on how to handle the situation. Hank must decide what to do. Charlie’s View Opened Pandora’s box and facing possible resignations and lawsuits. Need to turn this into a positive result. Keep salaries public henceforth. ◦ No need to have extra security and secrecy built around salaries. It might happen again anyway ◦ Most people share what companies pay online anyway ◦ Employees will self-correct pay disparities ◦ Fame to RightNow! Because of this policy Harriet’s View Short-lived gossip and furor which will pass soon. Disparities in income are present in all companies. Cant spend time explaining to each employee why they earn more/less than someone else Since the cat’s out of the bag, the company should revisit pay disparities and conduct review. Beef up computer security to avoid future incidents like this Commentator’s Advice - Victor Sim Exposing incomes would lead...
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...MANAGING PEOPLE When Salaries Aren’t Secret by John Case FROM THE MAY 2001 ISSUE I t had all happened so fast. Hunched forward, elbows on the desk, Hank let his chin sink deeper into his hands as he gazed out into the night. Outside, the flowers in the officepark garden looked garish under the orange sodium-vapor lights. Hank didn’t notice. He was thinking hard about tomorrow’s staff meeting, which had so suddenly been transformed from a celebration into a—well, he wasn’t quite sure what. He just knew it wouldn’t be pleasant. Hank Adamson, 48, was chief executive officer of RightNow!, a retail chain specializing in offprice clothing for young, fashion-minded women. Frankly, he had been looking forward to a little celebration. Five years ago, his company had bought out a stodgy, 20-year-old retailer of women’s apparel, and Hank had come in to run the place. He renamed it and repositioned it, giving it a hip, edgy style. (Get Your Clothes Half Off was the latest slogan, with a racy ad campaign to match). He invested in rapid growth: RightNow! today had stores in 28 states, with more on the way. Last year, Hank had hired a dozen or so tech-savvy 20-somethings and charged them with creating a killer Web site. Launched just last month, the site was already winning awards and generating substantial business. He’d heard that even the folks in corporate were impressed. But oh, those 20-somethings. One in particular: Treece McDavitt. Hank had noticed her—you ...
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...Salary Inequities at Acme Manufacturing Brandi L. Woods Excelsior College Author Note Salary Inequities at Acme Manufacturing Discrimination of any kind is a very volatile subject. Depending on the employee’s job satisfaction and commitment this situation could snowball into litigation if not handled properly. If the employees are satisfied and committed, they will be more agreeable to negotiate a successful conclusion to issue at hand. Salary Inequality Joe Black realized he had salary situation when he took over as president of Acme Manufacturing. Black noticed that there was considerable inequity in the pay structure for salaried employees. After a discussion with the human resources director he believed that the inequality stemmed from individual bargaining with the past president. Scrutinizing the salaried payroll showed that 14 of the 25 employees were female, three were front-line factory supervisors, 10 were non-management and one was the human resources director. The female staff were being paid less than their male counterparts, the human resources director was also under paid. Black hired a compensation consultant, they decided that all 25 salaried jobs should be in the same job assessment group. The job evaluation showed that the HR director and the three female supervisors were being underpaid comparative to equivalent male salaried employees. He knew that if the underpaid female supervisors took the case to the local EEOC office, the company could be...
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...study and apologize for the pay gap. Then I would inform them that they will receive salary increases effective immediately. Thirdly, I would have an open discussion regarding back pay. I would explain to them that while I intend to compensate them fully which would include back pay; I would like to discuss payment options related to the back pay. I would ask them to consider allowing the company to setup an installment plan for their back pay. I would present the proposition in such a way that it would allow the females to negotiate the time frame for payments. I set up the situation in such a way that I can exceed their expectation for example asking them to allow the company to pay them in installments over the course of the next five years when in fact we would really like to pay them over the course of three years. I would not discuss how the salary inequity occurred, however I would definitely discuss the policies and procedures that I would be establishing to prevent this situation occurring again. , I also would reiterate how much I truly value them as employees. Lastly, I would have a meeting with all of the supervisors to inform them that I would be making adjustment to some of the salaries to ensure that all employees are compensated equally across the board. The new compensation plans would presented at this time as well. Anyone with questions regarding their individual salaries could meet with HR. i. To do nothing would simply perpetuate the problem not...
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...1. Introduction Recent research suggests that people who are compensated with an hourly wage make different decisions about using their time than do people whose pay is not as explicitly time-dependent (DeVoe & Pfeffer, 2007a, 2007b). The argument is that when people paid by the hour think about their time in terms of money, they are more likely to adopt an economic evaluation lens when making decisions about spending time and, in particular, will devalue uncompensated activities. The fact that under conditions of hourly payment people primarily use economic criteria for decisions about time use stands in contrast to much research showing that people generally make decisions about money and time differently (e.g., LeClerc, Schmitt, & Dube, 1995; Okada & Hoch, 2004; Soman, 2001). As one example of this phenomenon, Evans, Kunda, and Barley (2004) found that technical contractors, who sold their services by the hour, became economic evaluators of time. With money and opportunity costs salient, contractors devalued non-compensated time and acted as if they were constrained in their decisions about taking time off from work. DeVoe and Pfeffer (2007a) found that people in a nationally representative sample who were paid by the hour (compared to those not paid by the hour) or those in an experimental setting who were randomly assigned to calculate their approximate hourly wage rate (compared to those who did not) weighed the economic returns of spending time more strongly...
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...WORKGROUP SALARY DISPERSION AND TURNOVER INTENTION IN CHINA: A CONTINGENT EXAMINATION OF INDIVIDUAL DIFFERENCES AND THE DUAL DEPRIVATION PATH EXPLANATION W E I H E , L I - R O N G L O N G , A N D B Å R D K U VA A S The present study generalizes previous pay dispersion research to the Chinese context by examining the cross-level relationship between workgroup salary dispersion and employee turnover intention contingent on individual differences. Field survey data including annual objective salary and self-reported attitudes among 370 Chinese employees in 51 organizational workgroups supported our cultural predictions by showing that the relationship between workgroup salary dispersion and turnover intention was positive only among employees with higher rather than lower levels of Chinese traditionality and among those with lower rather than higher salary levels. Furthermore, the results of mediated moderation analyses suggest that a dual-deprivation path model can explain the above relationships. We discuss the theoretical, cultural, and practical implications of these findings for organizations. © 2015 Wiley Periodicals, Inc. Keywords: salary dispersion, Chinese traditionality, turnover intention Introduction E mployee turnover is a challenge for organizations and managers not only because of the decreased firm performance followed by the loss of talent, but also due to the expensive replacement cost associated with hiring, selecting, and training...
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...When it comes to developing strategic pay plans it is important to have a good understanding of some basic factors to determine pay rates. Employee compensation is “all forms of pay going to employees and arising from their employment” (Dessler, 2013, p. 352). According to Dessler (2013), it consists of both “direct financial payments and indirect financial payments.” As we explore the case study of Acme Manufacturing, we will see the salary inequities and the struggles that the newly appointed president, Joe Black, has to go through to fix those issues. In an article titled “Fair Pay or Power Play?” Shin (2013) reported that “pay inequity provides strong motivation for CEOs to restore equity.” For this case, I will identify some issues and recommend some plans to resolve the salary inequities in the Acme case. Some key issues that existed within Acme Manufacturing were: lack of individual equity, internal equity issues, no pay structure for salaried employees, and lack of legal considerations in compensation. Equal Pay Act of 1963 (EPA) “makes it illegal to pay different wages to men and women if they perform equal work in the same workplace.” (“Laws Enforced by EEOC,” n.d.). With the previous president, Bill George, salaried employees bargained their pay. Joe Black identified that there were female supervisors that were earning less than male supervisors. Ultimately the underlying issue was management failed to create a compensation plan that aligned with a reward strategy...
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...Is the salary paid to sportsmen far excess of their value to society? Nowadays there are a lot of spheres with great money turnover such as show business including musical one, food industry, film industry, advertising, building industry, politics... This list we can expand and expand. But we should not forget to include here professional sport. It's an obvious fact that now professional sportsmen get incredibly high salaries in comparison with people involved in wage labour. That is why some people ask themselves a question: "what do these athletes do so valuable for society to get such munificent reward?" Of course, this question is not incurious, so let's look into it. At first, nobody will deny that if sportsmen get such serious money, someone is interested in it and is ready to go to expense. And of course, these money-bags are mainly sponsors that give money for positioning of their ads on T-shirts, on different products of professional clubs, on advertising panels standing near pitches, and so on. Sometimes even stadiums have the name of the sponsor: for example, Etihad Stadium, Emirates Stadium (Etihad and Emirates are international airlines). Why do they do it? Obviously, to make people know about them through the TV and other channels of communication in order to attract attention of potential consumer of their product. Okay, advertisement is printed on the team form, and here is a turn of a sportsmen. Showing brilliant talents of ball possession, tactic...
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...Salary structure in management in Germany, Poland and the UK – a comparative study Table of Contents 1 Table of Contents 1TABLE OF CONTENTS..........................................................................................................................3 2INTRODUCTION.....................................................................................................................................4 3DEFINITION OF SALARY......................................................................................................................4 4GENERALY TRENDS IN MANAGEMENT SALARY IN UNITED KINGDOM, GERMANY AND POLAND....................................................................................................................................................6 5SALARY IN UNITED KINGDOM............................................................................................................6 6SALARY IN GERMANY..........................................................................................................................8 7SALARY IN POLAND.............................................................................................................................8 8CONCLUSION.........................................................................................................................................8 BIBLIOGRAPHY.......................................................................................................................................
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...Assignment on Salary structure Course title: Compensation management Course code: HRM 412 Section: 1 Prepared For LAILA ZAMAN Senior Lecturer Dep’t of Business Administration EAST WEST UNIVERSITY Prepared by Md Naimur Rahman ID:2012-1-30-005 Q:What is salary? A salary is a form of periodic payment from an employer to an employee, which may be specified in an employment contract. Salary is a fixed amount of money or compensation paid to an employee by an employer in return for work performed. Salary is commonly paid in fixed intervals, for example, monthly payments of one-twelfth of the annual salary. As explained earlier Money that is received under Employer-Employee relationship is called as Salary . If one is freelancer or are hired by an organization on contract basis, their income would not be treated as salary income.( In such case your income would be treated as income from business and profession). The word salary has come from Latin salrium based on salrius which means pertaining to salt. The word appeared in 1350-1400. In those days, salt , regular ordinary table salt, was a prized and valuable commodity. It was money given to Roman soldiers to buy salt. The phrases the salt of the earth or worth your salt refer to the high value of salt. Q: What are the components of salary? The salary one gets would be sum of the following components 1. Basic salary 2. Allowances 3. Bonuses 4. Gratuity 5. leave encashment 6. perquisites ...
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...Salary Negotiating Jose Rodriguez week 4 Analysis 1 This particular topic is tough because all my jobs have been either with manager or Banking and there is no negotiating your salary in either. But after reading this article and I ever decided to try for a job that gives me the ability to negotiate my salary I would try the following techniques. First would be the impression you bestow on the employer. So I would show multiple behaviors that give the impression that I am excited and very enthusiastic for the offered position. I would avoid any personal feelings or issues that show that I am in need of this job. This will eliminate any possibility to negotiate because they will know I am desperate for the job. In my experience with promotional interviews it is always good to show confidence and the ability to talk while staying professional. Make sure you research the position you are applying for so you do not go into it knowing nothing and you do not throw out a crazy salary that shuts the interview down. The next one that I believe is effective would be ways to discuss the salary offer. With this step you have to do your research. You cannot walk into an interview and negotiate on the fly, you must research the position, the salaries offered at other places, your experience and salary history, and knowledge of the positions you held at previous employers that show your skills and abilities to perform the job with this company. You must...
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...CONNECTING SALARIES TO TALENT 2013 SALARy GuIdE FOR IT PROFESSIONALS In today’s tumultuous, cost-conscious economy, businesses are striving to maximize their return on investment. However, while many view ROI as an exercise of “doing more with less,” in the IT world, optimizing ROI is all about doing things better and doing it with the best talent available. It’s no surprise then that the competition for professionals with the latest skills — electronic medical records implementation, cloud computing, mobile app development, etc. — is intensifying. In fact, the unemployment rate for IT positions is well below 4 percent, resulting in an extremely shallow pool of available talent and creating challenges for businesses looking to connect with the right professionals for their critical positions. At Modis, we help businesses overcome this challenge every day by making it easier to connect with, and hold on to, exceptional professionals with the right mix of IT skills and proven experience — those professionals that bring not only technical aptitude, but also deliver significant business value. One of the ways we can make it easier is through our 2013 Salary Guide, which features the most thorough, accurate and current collection of compensation insight for the IT industry. The figures presented in this guide are based on detailed hiring metrics from our nationwide branch network and a comprehensive examination of national hiring data and trends. In addition, the Salary Guide...
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...High-tech Crime Nowadays, with the rapid development of social, technological has also fast development and played very important role for the development of economy and people's lives . Technology has become an important factor, as the bridge between the exchange component of the global society, of all the problems...With the strong growth of the economy - one of the fastest growing fields, technology has also received great attention of people. Technology, including the development of information and communication. Today, people have more occasions to information technology. Almost occupation or activity areas in modern society require the presence of information technology. Because of diversity, the objects of information technology are increasing, from an individual to an agency, organization, company or country. Therefore, the role of information technology is becoming increasingly important and irreplaceable. However, with the development and an important role in all areas of life, information technology also bring negative side and the problems are not solved, we will discuss the following here – the high-tech crime. The issue of personal information security is a point frequently in the newspapers write about technology. However, not everyone has a correct perception of privacy when sensitive personal information is stolen - social networks accounts, online accounts, bank cards payment... are becoming very popular in the world. They are quick, convenient and they can...
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