What is fair pay W = P MP.pptVIP

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2017-03-25 发布于江苏
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What is fair pay W = P MP.ppt

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What is fair pay W = P MP

What is fair pay?W = P * MP Stock Option Stock Option Why not offer stock options to everyone? THE WALL STREET JOURNAL February?24,?2005;? Page?A1 Silicon VolleyAs Tech Matures, Workers File A Spate of Salary Complaints Limitations on the Market Paradigm What determines wages within firms? Internal Labor Markets—Job allocation and compensation decisions within firms Pay structure set by steps, grades, equal treatment across workers within classifications (clerical, blue collar, professional, …) Limitations on the Market Paradigm Pay structure may be partially divorced from market forces Example California Merit Pay System Market forces most important at entry level The Market for Nurses Frequently alleged that nurses are underpaid relative to their fair value * /2005/04/15/pf/college/starting_salaries/ What is fair pay?W = P * MP Kevin J. Murphy “Executive Compensation” in O. Ashenfelter and D. Card eds. Handbook of Labor Economics Vol. 3B. 1999 Time P0 T1 P1 Strike Price Time P0 Option “in the money” T1 P1 Gain The Economist January 21, 2006 Average CEO Pay, Company with annual revenues of $500 million Kevin J. Murphy “Executive Compensation” in O. Ashenfelter and D. Card eds. Handbook of Labor Economics Vol. 3B. 1999 Growth of Usual Weekly Wages for Physicians, Nurses, Manufacturing Workers, and Private Sector Workers, 1980-2002 Occupation 1980 1992 2006 Physicians 452 1007 1583 Registered Nurses 297 662 1051 Manufacturing 289 470 749 Private Sector 235 364 585 CPI 87 140.3 202.4 Source: U.S. Bureau of Labor Statistics. Employment and Earnings. Various issues. Updated by National Occupational Employment and Wage Estimates Growth of Usual Weekly Wages for Physicians, Nurses, Manufacturing Workers, and Private Sector Workers, 1980-2006 Percent Growth in Real Wages = 100*{(Wt / Pt ) / (Wt-1/Pt-1)} Occupation 1980-1992 1992-2006 1980-2002 Physicians 38.2 9.0 50.5 Registered Nurses 38.2 10.0 52.1 Manuf