SOC362H5 Lecture Notes - Lecture 7: Where We Are, European Route E60, Canadian Tire
Document Summary
Today"s issue job value labour market earnings wage rate earnings ratio wage rate ratio wage line occupational feminization value of work crowding hypothesis. The difference between a job"s value, and its market value. Two ways of measuring the gender of a job. Relationship between job value and job sex predominance. Compensation refers to the money or benefits that you receive in exchange for labour. The first way is to pay them based on the value of the job. The value of a job is determined by what the job contributes to the employer. This varies by the objective of the employer. So if the employer made cars, a car designer would contribute a great deal to the employer, and his compensation would reflect this. This can also be used to explain why professional athletes make so much money, simply because they are able to attract crowds at their games.
