Weiye Loh's Library tagged → View Popular, Search in Google
The Rise of the West. Countries get rich because they become particularly skilled in certain industries that they can sell in exchange for money. So why are McDonald's workers in the U.S. or Western Europe earning up to 10-times more than in India, China, or Latin America? It's not that Chinese and Chileans are less skilled at heating burgers. Rather it has everything to do with the economy outside of McDonald's kitchens.
According to the chart, the Big Mac prices in respective countries:
Taiwan: NT$75
Australia: A$4.56
Singapore: S$4.41
Monthly wages of bus drivers:
Taiwan: NT$60,000
Australia: A$4,400 or about A$3500 after tax
Singapore: S$1,600 (don't cut you 20% for cpf lah)
Number of Burgers bus drivers can eat a month:
Taiwan: 800
Australia: 784 (after tax, muahaha)
Singapore: 362
These young folks don’t want to spend a lot of money and time training to do a specific job they might not get only to get laid off when some private-equity slicks (where the real money’s at) buy out the company and ship the jobs to China.
That’s what happens when owners and management have shredded the social contract. They find workers can’t or won’t do what they need them to. A flexible workforce has its downsides too.
-
In Europe, for instance, training is often mandated, and apprenticeships and other programs that help provide work experience are part of the infrastructure.
The result: European countries aren’t having skill-shortage complaints at the same level as in the U.S., and the nations that have the most established apprenticeship programs—the Scandinavian nations, Germany and Switzerland—have low unemployment.
-
the businesspeople quoted here know how a market works. If you put out a want ad for something and you don’t find it, you need to think about upping your bid.
- 1 more annotation(s)...
for most careers the company studied, PayScale found that the pay gap is largely the result of outside factors. Within a specific job, before controlling for outside factors the typical female worker earns pay that is only 90 percent of the typical male worker’s pay; after controlling for these variables, she earns 94 percent of the typical male worker’s pay. For jobs paying below $100,000, the gap narrows further.
The implication is that in most jobs where a wage gap exists, it is probably not due to overt discrimination, with bosses deciding, Mad-Men-style, that women should receive unequal pay for equal work. Rather, in most jobs, the different career choices that men and women make — or perhaps the different career opportunities men and women have available to them — account for big differences in pay, says Al Lee, PayScale’s director of quantitative analysis.
-
even though the gap narrows when you control for these factors, it is still large when you look at a subset of the careers PayScale examined: the high earners. In jobs that pay more than $100,000, women earn just 87 percent of what men receive, even after adjusting for outside factors. You can see this in the second chart above — around the $100,000 mark, many more dots start to fall beneath the equal-wage line.
-
After controlling for outside factors, some of the biggest gender pay gaps are in jobs like chief executive (in which, after PayScale adjusted the data, women earn 71 percent of what men earn), hospital administrator (women earn 77 percent of what equally qualified men earn) and chief operating officer (women earn 80 percent of what equally qualified men earn).
In each of these jobs, performance quality is a relatively subjective measure. Compare those jobs to positions like engineers, actuaries or electricians, where the criteria for a job well done might be relatively more concrete or measurable — and where the salaries earned by men and women are roughly equal.
- 2 more annotation(s)...
In the past 30 years, US women have become more educated, outperforming men in university graduation rates. During that time, the disparity between the percentages of women and men working full-time has shrunk considerably too – and yet the pay gap persists, a topic this blog has tackled in the past.
-
According to a new study by sociologists from Indiana University and Cornell University, one of the biggest contributing factors to the wage gap is the phenomenon of “overworking” – which means working 50 hours a week or more.
The study, using data collected by the US Census Bureau, found the relative hourly wage of overworkers compared with that of full-time workers had increased substantially over the past three decades, but because a greater percentage of male workers were overworking, this change benefited men much more than women. Today, women earn an estimated 81 per cent of what men are paid.
According to Youngjoo Cha, a sociologist at Indiana University who contributed to the study, even women who are employed full-time typically have more family obligations than men, which limit their capacity for putting in gruelling hours at the office.
-
In the so-called greedy occupations – doctors, lawyers and upper-level managers, for instance – workers are evaluated based on their face time at the office, according to Cha, who specialises in gender and labour markets. It is no coincidence that these jobs tend to come with the fattest pay cheques, too.
“In our culture, ideal workers are those who put in long hours and completely devote their time and emotions to their jobs,” she says. “In these top-end occupations, this phenomenon is most pronounced. Workers are bound by stronger norms, and if they don’t live up to those norms, they are penalised. Lawyers who don’t bill enough hours, for example, don’t progress and don’t make partner.”
- 1 more annotation(s)...
People are more likely to die on or shortly after the day they’re paid, according to a new study by University of Notre Dame economist William Evans.
-
When a male CEO has a daughter, he moves to close the gender pay gap at his company, a new study finds.
-
Three economists drew on remarkably thorough data kept on employees in Denmark’s private sector, examining the salaries of 734,200 workers at 6,320 firms, from 1995 through 2006. The database also included information on CEOs, including the sexes and birth dates of their children.
- 4 more annotation(s)...
Selected Tags
Related Tags
Top Contributors
Groups interested in Pay
Highlighter, Sticky notes, Tagging, Groups and Network: integrated suite dramatically boosting research productivity. Learn more »
Join Diigo
