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Salaries within two distinct geographic regions often vary substantially. Employers within a market economy must compete for talent and labor in the same manner in which they compete for customers. Employers must therefore entice perspective candidates with a compelling value proposition relative to peers. This proposition often includes aspects such vacation, retirement plans, and special rights and privileges. A major component of the ability of a company to attract and retain talented candidates is salary. Two economic forces heavily influence pay differences within respective regions of the country. One of which is cost of living within the particular area. Cost of living in particular has many variables that comprise it (Dohrn, 1996). Aspects such as living expenses, taxes, inflation, and transportation are all components within the cost of living calculation. A higher cost of living often demands a salary premium when compares to other, less expensive areas. The second economic influence that determines salary is available labor supply. Often the sheer rareness of a skill often causes employers to bid for the individual's services. Much like supply and demand in an economic context, a shortage of labor often corresponds with an increase in price. These two influences have a strong impact on wages and the subsequent compensation an employee receives. This document with discuss the varying salaries of a...
The discrepancy is large with a Treasury Analyst in New York commanding a salary of $150,000 as compared to $60,000 in Florida.
When looking salaries, one must first be cognizant of the cost of living within a particular area. Generally speaking cost of living varies dramatically by state. For example, New York and California have historically been the most expensive states to live in. Meanwhile areas such as South Dakota and Texas have been cheaper. The economic e influence of cost is a strong driver of salaries within a region. Employers must attract candidates with a salary that compensates for the higher cost of living associated with the region. Otherwise, candidates would not accept an offer due primarily to the fact that they would not be able to affordable live in the area. The cost of living is often derived from structural aspects embedded within the state, or region (Finley, 1973). Aspects such as taxation, infrastructure, and political affinity can have a large impact on the cost of living. Taxation is a very large proponent of the cost of living. The federal government taxes wages and in some instances states tax income as well. This state tax in conjunction with sales taxes on consumption can be particularly burdensome for candidates. New York for instance, has fairly high tax rates in relation to Florida.…
References
1) Dohrn-van Rossum, Gerhard,, (1996). History of the hour: Clocks and modern temporal orders. Thomas Dunlap (trans.). Chicago: University of Chicago Press.ISBN 9780226155104.
2) Finley, Moses I. (1973). The ancient economy. Berkeley: University of California Press. p. 65
3) Thompson, E. P. (1967). "Time, Work-Discipline, and Industrial Capitalism." Past and Present 38: 56-9
Managerial Finance MBA (Master of Business Administration) is generally regarded as a ticket of financial success and individuals who graduate from one of the top ranking universities are always being paid the six figure salaries. Based on the high salary ticket that MBA offers, a Master of Business Administration is generally being considered as a very valuable degree especially when the degree is being offered by the top ranking universities
" To that end, the Treasury Department would limit executive compensation for institutions receiving "exceptional assistance" (Geithner and Summers, 2009). Troubles continued in the financial sector -- both Citigroup and the Bank of America needed second rounds of capital infusions, and federal guarantees against losses totaling tens of billions more -- while Ben S. Bernanke, the Federal Reserve chairman, warned that more capital injections might be needed to further stabilize the
Business Plan: Bridal Salon Business Products and services Keys to Success Company description Vision Statement Mission Statement Company background Products and Industry Product Description Industry Description The Market Market and Target Customer Market Segmentation Target Market Strategy Competition and Competitive Advantage Curbing Local Competition Curbing Regional Competition Marketing Strategy Overall Strategy Sales Plan Competitive Plan Research and Development (Growth Plan) The Organization Legal and Organization Structure Key Personnel Related Service Providers Location The Financials Critical Risks Income Statement Cash Flow Projection Balance Sheet Assumptions References Executive Summary Introduction Pace-setter is a bridal salon that rides on the theme of 'experience'. It creates an environment in which
Business Ethics Introduction (Summarize the overall viewpoint of the author, and discuss the major issues presented in the case.) In the case, the author is showing how Dennis Kozlowski and Mark Schwartz were at the top of an elaborate scheme to defraud Tyco. This was accomplished by talking about how their troubles began based upon Kozlowski's desire to avoid paying taxes on artwork in New York State. As the investigation expanded, the
76). As automation increasingly assumes the more mundane and routine aspects of work of all types, Drucker was visionary in his assessment of how decisions would be made in the years to come. "In the future," said Drucker, "it was possible that all employment would be managerial in nature, and we would then have progressed from a society of labor to a society of management" (Witzel, p. 76). The
Despite this fundamental difference, financial and compliance managers work together as healthcare organizations make decisions to lower cost, increase revenue, and improve care. The concept of lowering cost while improving care presents a complex demand, and requires both financial and compliance officers to possess fundamental management knowledge, and similar professional skills in order to implement accounting and ethical standards (Buelow, et al. 2010). For example, a legal requirement or