What’s that Job Worth?

by / On February 17, 2020 / In Business and Management, Not applicable

You will use data collected by the US Bureau of Labor Statistics for this assignment. These data can be found at http://www.bls.gov/oes/current/oes_nat.htm.

First Letter of Last Name : PI-PZ 43-4051 Customer Service Representatives

Copy and paste the national estimates for the occupation (As seen in the word document attached)

Answer the following questions.

Government survey estimates suggest there were 1,052,120 Receptionists and Information Clerks in the US in May 2009. The average salary was $12.50 per hour; the median salary was $12.05 per hour.
1.    Why do you think wages are reported on an hourly basis?
2.    What is the difference between the mean and the median?
3.    Most companies base pay on medians rather than means. Why might this be? Why would the median tend to be lower than the mean?
4.    What is the ratio of the 90th percentile to the 10th percentile? (In this case it is $17.61/$8.26 = 2.13: the 90th percentile employee is paid more than twice the 10th percentile employee. What might explain this differential? What impact does it have on an organizations decision about what to pay a receptionist?

Now look at the different rates for various industries, states, and MSAs. (A MSA is a Metropolitan Statistical Area.)
1. Do the different rates for different industries and localities help understand wage differentials for the same job?
2. Do you think there are likely to be differentials within each industry or area? Why?

** In answering these questions use the data from your job to illustrate your answers **