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supply and demand for labour
- business' ability to pay
- awards / promotions
- rates paid by competitors
- individual job performance and/or potential
- job content and classification
- nature and usage of the overall compensation package
- relationship of pay rates to workforce planning
- frequency of reviews and evaluation
- budgetary and cost constraints
- performance assessment systems
- psychological and personal factors affecting employee work performance
- trade union pressures
- economic conditions, such as cost of living increases
- changes in technology (and adaptation to them)
- job analysis technique
- the organisation's public image
- special features of job (location, skills, disabilities)
- equity
- market competitiveness
- motivation
- state law about compensation (minimum / maximum)
Wiki User
∙ 12y ago
Wiki User
∙ 13y agoThere are a lot of factors that determine wage level. For instance, the most common determinants are education and experience. A person with a Masters degree can assume that they will have a higher wage level than a person with a high school diploma. Additionally, a person who has worked in the professional field for 10 years has many experiences and knowledge in the subject. This person can expect a higher wage from their employers because of their experience. Another large factor in wage is location! A person in California, New York, or Boston should be making a much larger wage than a person in Idaho, Texas, or New Mexico for instance. However, the cost of living where these higher wages are usually outweighs the benefits of the higher income. A gallon of milk in Hawaii is usually around $6-$7!!! In Idaho it is around $2.00. Hope this helps.
just put the answer!
the gross domestic product
Wiki User
∙ 9y agoThe production possibilities frontier. Several factors influence the salary which a person receives. These include experience, or length of service, educational and professional qualifications, performance, location and working conditions.
Wiki User
∙ 9y agoage and experience
Wiki User
∙ 11y agofactor of influence wage structure
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