Exam 9: Evaluating the Market

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You have determined that the lowest-paying employer pays it secretaries a mean total compensation of $30,000,and the highest-paying employer pays its secretaries a mean total compensation of $42,000. What is the dispersion in secretarial compensation across firms?

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In regard to compensation market data,the key thing an employer needs to know is what its competitors are paying their employees.

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What does compensation survey data establish?

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In analyzing compensation survey data,a key element is the mean base pay.

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Collecting data can be done by personal interviews,random sampling and questionnaires.

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