Category: Salary Data
The Great Recession hit the U.S. economy pretty darn hard, and American workers are still recovering. We've learned, in recent years, that an improving economy doesn't necessarily mean better pay for workers. However, despite these challenging economic trends, top executives continue to earn huge sums of money, especially compared with how much their employees make and when measured against how much people in their position used to earn in decades past. Let's take a look at a few facts about CEO pay and also examine why it really does matter, quite a lot actually, to you and your employer.
Equal Pay Day has been on our calendars since its conception by the National Committee on Pay Equity in 1996, but very little has actually been done to close the wage gap between men and women in America. Recent research shows that in 2016, women only earn 74 cents for every dollar a man makes. Even if we look at men and women in the same jobs, women earn less: comparing only like job titles, experience, and education, women make 97 percent of what men earn. If this information rustles your jimmies like it does mine, I've got six things you can do right now to help close the gender pay gap this Equal Pay Day.
If you were the same person you were when you first started out in your career, things wouldn't be so complicated. However, over time, you've matured as an individual and a professional, so it's only natural that your priorities shifted accordingly. As a result, you may have found that the career from which you thought you'd retire is now stifling and has become the bane of your existence. You're probably thinking that switching occupations mid-career isn't the wisest decision, but is staying in an unfulfilling, stagnant career until retirement the better option?
You might think that teachers have a pretty good deal, getting the summer off and 12 months of pay to boot, but teachers' compensation is pretty low, especially when it's compared with other professions that require similar levels of education and training. Other public servants, like police officers and firefighters, also opt into a career that, despite its importance, leaves something to be desired in the salary department. But, shouldn't teachers and all public servants who work tirelessly and selflessly to better communities be able to afford to live in the area where they work? Here are a few things to think about.
Last July, British Prime Minister David Cameron announced plans to force companies to reveal how much male and female employees are paid, as well as how many men and women occupy roles at various levels of the organization. Currently, the initiative will only apply to businesses with 250 workers or more, but regardless, this is a huge step forward in the fight for equal pay. Here are just a few of the likely benefits that will be a result of this new data collection.
Despite the difficulties they faced entering the job market during the worst recession in decades, millennials have found their way into the workplace, even teaching older generations a thing or two about new ways to work along the way. But, financially, it's been a rough decade or so for the youngest generation of workers.
At PayScale, we really love data. Throughout 2015, we used data to tackle some of the most debated topics in the career world, as well as to shed some light on common misconceptions about data. PayScale's reports cover everything from the gender pay gap to the cost and reward of higher education. And sometimes, we analyze qualitative data, like how workers feel about their jobs. For example, which jobs are the most meaningful, and more importantly, which are the most meaningless? And, do women really only make 78 cents for every dollar a man makes?
Time to make those New Year's resolutions! How are you going to make the coming year great for you and your career? We have some tips to help you make big changes by setting totally attainable goals. Before one year ends, get your game plan set for the next (great) year for your career.
Most of the folks who have held a food server job during their lives will tell you that it can be a very stressful line of work. In fact, anyone who's ever worked with the general public, whether it be in a restaurant, a retail store, etc., will likely say the same. It's tough dealing with people, right? Well, yes, that's true. But, waiting tables comes with a lot of stresses that go far beyond just dealing with rude customers.
Would you feel better about your less-than-market salary if your boss talked to you about how the company structures pay? Maybe. PayScale survey data from 71,000 U.S. employees show that workers who are paid less than the market rate for their jobs were more satisfied if their employer was transparent about their pay, as this Bloomberg Business piece points out. When someone actually sat down with workers and talked to them about compensation, their job satisfaction numbers more than doubled, rising from 40 percent to 82 percent.
A variety of factors contribute to our understanding regarding the current state of the economy. It's not a simple issue. One indicator stands out though as especially significant, at least as far as many working Americans are concerned: unemployment rates. And, this fall, it seems we've been getting some good news.
If you watched Tuesday's GOP debate on Fox Business, you undoubtedly heard Neil Cavuto tell you that things were really, definitely interesting. And they were: each candidate had ample time to lay out broad details of their economic agenda, and an opportunity to show why theirs was superior to the others. Many times, however, the most interesting thing that was said wasn't a policy issue, but instead anecdotal claims left unchecked by the moderators. In particular, Marco Rubio had some interesting things to say about vocational training.