Compensation Comparisons Assignment Example | Topics and Well Written Essays - 500 words

Compensation Comparisons - Assignment Example Look at the 25th percentile for both base pay and total cash compensation for Bookkeeper. Both of these amounts are the same. This means that bonuses are influenced by several factors including responsibilities, performance, and longevity. I would be able to use the above information in negotiation my salary for a job right after graduation. First, I would assess my level of skills for the job I am applying. Second, I would compare this level with that of others in the field. Say, if my level of skills is deemed above average, then I can demand a salary near the 75th percentile base pay of the job I am applying in. To support the asking price, I would present letters of references from my professors in relevant subjects detailing my performance in the class. However, the asking price of other applicants can significantly impact whether I get what I am asking for. For these jobs, the relevant labour market includes all industries as all firms in whatever field maintain an accounting department. Moreover, there is no significant differences between salaries in different locations. These salary data were developed based on the review of available and applicable market data as gathered by Monster.ca and Salary.com’s team of compensation consultants. I believe that there is enough information to support the conclusion made by the team. This is so because given the speed with which people share information now data collection on sensitive issues is much easier. Nevertheless, the use of inaccurate salary data is a large financial impact. For example, if an erroneous salary data is used in negotiating one’s salary, then it is highly likely that the negotiated salary would also be incorrect. Given that this information is available for free, I wouldn’t bother with consultants surveys. However, if the job I am applying for is high level, say Chief Executive Officer, then this would be a time where I will use