Why do some jobs pay more than others?

Answer 1

Because there is a higher demand for this type of labour. The less competition it usually means the more one gets paid for his/her skills. The more competition, the less someone might get paid. This is the most important but only one of the factors.

Answer 2

Often, the difference has to do with education. A higher degree, or more experience for instance. In other cases, it is just who you know, or one company offering a higher salary than another. In other cases, a family fortune earned in the past provides interest over a long period, providing income to a family for generations. Sometimes it is the choice of career, or just luck in the boss liking you better and promoting you over equally qualified people. It just depends on the situation... but in general, and statistically, getting a better education helps a lot.

Answer 3

Four major factors influence the earning potential of a job.

1). How hard is the job? Jobs in harsh environments or which physically demanding tend to pay higher. A plumber willing to work in tight spaces can demand more than one who will only do new construction.

2). How much education or training is needed for the job? More time to acquire the skills, means fewer people capable of doing the work.

3). How difficult is the job? Jobs demanding high intelligence, intense concentration, or superior memory tend to pay higher. This also includes jobs were only the very best are employed, such as professional athletes in popular sports.

4). How high is the social status of the job? Teachers, firefighters, pastors and social workers will tend to earn less. Similarly, anything someone is willing to do for fun or for free will not earn much, ie most musicians or local theater.

Answer 4

It depends on a lot of situations. Some people get paid more then others because they have more education and experience then you while others got there based on their exerience and work ethic.

Answer 5

Because there is a higher demand for this type of labour. The less competition it usually means the more one gets paid for his/her skills. The more competition, the less someone might get paid. This is the most important but only one of the factors.

Answer 6

—Due to the risk involved in each job is different.

—The experience needed for different occupations are different.

—Some occupations need more study and hard work to get while others can be easily available.

Answer 7

Pay is mostly determined by supply and demand with the number of workers determining supply and the value of the work performed determining demand

Answer 8

Because they do more