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A pay scale (also known as a salary structure) is a system that determines how much an employee is to be paid as a wage or salary, based on one or more factors such as the employee's level, rank or status within the employer's organization, the length of time that the employee has been employed, and the difficulty of the specific work performed.
The pay scale was originally created with the purpose of keeping federal salaries in line with equivalent private sector jobs. Although never the intent, the GS pay scale does a good job of ensuring equal pay for equal work by reducing pay gaps between men, women, and minorities, in accordance with another, separate law, the Equal Pay Act of 1963.
Cost to company (CTC) is a term for the total salary package of an employee, used in countries such as India and South Africa. It indicates the total amount of expenses a company (organisation) spends on an employee during one year. It is calculated by adding salary to the cost of all additional benefits an employee receives during the service ...
The explosion in executive pay has become controversial, criticized not only by those on the left, [21] but by proponents of shareholder capitalism such as Peter Drucker, John Bogle, [22] [23] Warren Buffett [14] also. The idea that stock options and other alleged pay-for-performance are driven by economics has also been questioned.
Host Agency Reviews lists employee salaries by compensation structure, listing the 2022 income for travel agents that earn salary + commissions (25% of travel advisor employees) at $88,909, those that earn salary/hourly only at $50,792 (44% of employee travel agents), and commission only travel employees at $21,932 (31%).
The OECD (Organization for Economic Co-operation and Development) dataset contains data on average annual wages for full-time and full-year equivalent employees in the total economy. Average annual wages per full-time equivalent dependent employee are obtained by dividing the national-accounts-based total wage bill by the average number of ...
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A job description or JD is a written narrative that describes the general tasks, or other related duties, and responsibilities of a position. It may specify the functionary to whom the position reports, specifications such as the qualifications or skills needed by the person in the job, information about the equipment, tools and work aids used, working conditions, physical demands, and a ...