Engli 1130 Personal Symbol Essay

Unit I essay Name Course name Date Instructors name Question 1 In your own words, describe why base pay rates vary between employees performing different assignments in the same organization and why pay rates vary for people doing similar work in different organizations. Base pay rates vary between employees performing different assignments in the same organization. No factor can explain the differences in pay that exists and persists between occupations within an organization. One of the reasons why base pay rates differ between employees performing different assignments is the differences in accumulated human capital. Basic pay in terms of wages and salaries should compensate individuals for making an investment in education. Acquisition of qualifications has no opportunity cost and the present earnings predetermined by staying in education measure this. The rate of return on achieving an education qualification should be enough to justify the investment made. Another reason for the variation is the different skills level. The demand for skilled labor often grows more quickly than the demand for the semi-skilled labor. This will in turn push up the average base pay rates leaving the highly skilled workers in inelastic supply and rising demand forces in the same organization. The