Question: Discuss whether wages are the most important factor influencing the choice of occupation for many individuals.
Please write no more than 300 words and your answer needs to be in by WEDNESDAY the 20th of February.
Remember to use your notes and write 'economic' answers.
Good luck,
Mr Wickham
There are thousands of different occupations, each with its own conditions of work. Choice of occupation not only depends on wages but other rewards you receive for that occupation. The bigger the reward or rewards the bigger the incentive to work in that occupation. This rewards can be wage and non wage factors. A very important thing to consider apart from wages is the personal satisfaction and if you really like that job or not as many people are metalized to be paid less if they enjoy the work.
ReplyDeleteHowever wages are the most attractive factor to make people want that job or not, although higher paid jobs often require training and good skills. Dangerous jobs in which you can risk your life also will have high salary. There are loads of non economical benefits given to employees such as subsidised housing, payment of school fees or even a company car, this factor also push you to chose this job. As well as when you take a job which starts with a low paid job but you know you are going to be promoted and promoted till you get to a better job such as sales supervisor or sales manager.
Discuss whether wages are the most important factor influencing the choice of occupation for many individuals.
ReplyDeleteOne make choices depending on the satisfaction that it produces them, so if you like your job a lot, you will work harder and it will motivate you to reach your potential to a maximum level. Many believe that a motivator is the high wages, though it`s not the only or most important one.
Many people would not mind to be paid less, as they already enjoy their job enough to feel a satisfaction. Many people chose to do less paid jobs such as a farmer compared to a doctor, as they feel that they are in contact with the nature and that’s what really makes them happy. This is considered to be an individual choice, as everyone has a different opinion.
Another non-wage factor is the career prospect, which is basically when you will like to achieve during your career, a high post job, so you will work at a lower post to later on achieve the desired position. An example would be a lawyer; you may start being the secretary of the lawyer and later on be an entrepreneur of a lawyer business.
Another factor is the benefits you may get from that job such as; holidays, good pension schemes, job security and the location of the job. Many people may chose a job because its near to their house. A good example of a job which has good holidays is being a teacher.
The last factor is the fringe benefits which are non-financial benefits, such as the subsidies for your house the company may pay. Also the subsidies include the school fees, company cars and maybe subsidied company products ( e.g an iPad). This is mainly present in jobs which are related to political institutions: an ambassador is a good example as his life is “almost paid” thanks to the subsidies received.
There are different types of occupations, each with its own conditions of work. Employees might be expected to work under a variety of arrangements including, full time, part-time and shift work.
ReplyDeleteThe choice of occupation depends on the reward you receive for that occupation. The higher the reward the bigger the incentive to work in a particular occupation. Rewards consist of wage rewards and non-wage rewards.
Many people choose the job because of the satisfaction it is for them, they are prepared to work for less pay if they enjoy the work. It is very individual choice, as someone who has the skills to work in a high paid job may choose to work for less pay in a job that they find more satisfying, Often people will choose a low-paid job working for a business instead of running their own business that might make more energy, but might be more successful. But there are also people that choose to work in occupations where there is opportunity for promotion.
There are also peoples choice which depend on the wage factors, such as the wages paid are an important consideration at the time of choosing a job. The higher the wage, the more attractive the work may seem for the people. However, highly paid jobs often require a lot of training and skill development which can reduce the supply of qualified applicants.
There are also lots of non-financial benefits given to the employees such as subsidised housing, company car, subsidised company products reduced price for company products. This is so If for example a family needs to move country they have the best facilities and they don’t really need to worry of all those things, but for it you need to be a very good worker.
Paula Garcia 10N
People take in account different things when they chose a job. Choice of occupation depends on the reward you receive for that occupation. This reward could be to do with the wages, or there can also be non-wage rewards. The higher the reward, the more attractive the occupation will be to a person.
ReplyDeleteWages could be the most important factor when influencing the choice of occupations for many individuals because the higher the wage and the more the person earns from this job, the bigger the incentive for this person to work in the occupation. However, highly paid jobs often may require a lot of training and skill development, or could potentially be dangerous so people choose to work in a certain occupation for other non-wage reasons.
Job satisfaction is also an important factor as people are prepared to work for less pay in a job that they find satisfying and interesting. People who have high qualifications may choose to work in a low-paid job because they enjoy it. An example could be when a person decides to be a farmer instead of a lawyer simply because they enjoy it.
Another important factor is the career prospects. People may chose to work in a job where they can start in a low-paid job and get promotions and work their way up to a highly-paid job. For example, you may start as a secretary and work your way up to being director.
Fourthly, another important factor is the fringe benefits of a job. There are some non-financial benefits you could get from each certain occupation, like a subsidised house, company car or phone, subsidised company products, and payment of school fees. An example could an ambassador, who has almost everything paid for him or her.
Lastly, the general benefits such as length of holidays, where some jobs have many more holidays than others; good pension schemes; job security, where you know that you’re not going to lose your job; and the location of the job, where you don’t have to be away from home will be attractive to people.
An individual might be influenced by many factors while choosing a job. These factors are divided into wage factors and non wage factors. Wages are payments for carrying out work. The higher the wage the more attractive the job will look for us as individuals. However high pay jobs often require a lot of training and skill development which can require the supply of qualified applicants. E.g. being a doctor requires a high level of training.
ReplyDeleteHowever, wages are not the most important factor influencing the choice of occupation for many individuals. There can also be non wage factors that influence us. Firstly, satisfaction, this is a very important factor, as someone that has the skills of working in a high paid job can decide in a low paid job that they found more entertaining. This is a very individual choice as it depends on your likes or dislikes.
Secondly, many people decide to work in occupations where there is opportunity for promotion, e.g. you may take a low paid job because to know you can be promoted, which can bring a large number of profits towards the individual. This is known as Career Prospect.
There are also a large variety of other non financial benefits given to employees such as a company car, subsided housing, subsided company products, payments of school fees… These are very beneficial features which could persuade individuals. This is known as Fringe Benefits.
Finally, other types of non wage factors can be length of holidays, which in this case teachers are one of the most beneficent occupations, another benefit can be the location of the job, in this case, the result can vary, depending on how far from the job you live. Job security can guarantee a full security towards the individual, and finally a good pension scheme.
In conclusion, wages are not the only feature that influences the individual for the choice of occupation. There are other non wage factors that also influences this, as explained above
There are many different occupations, each of them with its own condition of work. Employers are expected to work under a variety of arrangements e.g. working part-time or full time.
ReplyDeleteChoosing an occupation or another, depends on the rewards you receive for each occupation. The higher the reward, the bigger the incentive to work in a particular job. There are two different rewards, non-wage factors, or wage factors.
Wage factors, is an important consideration when choosing a occupation. A wage is what you receive in exchange for carrying out some work. High paid jobs, often require a lots of training and skills, this will reduce the supply for that occupation. For example doctors, they get paid more than drivers, or electricians. Dangerous jobs also have high payments.
There are different types of payments. The basic pay, will be the amount of money a worker will receive for the work done. There is also the earnings, this is the total amount of money a worker will receive including additional payments. Overtime payments, are the extra hours worked, above the basic agreed number of hours for the job. This will encourage people to work unsocial hours. Bonus are payments used as an incentive to persuade workers to work more efficient. Lastly there is the commission. This is a payment made depending on the sales a salesperson makes. For example in a retail store, a employer might earn 10% for each sale made.
All of this are wage factors, that will make people choose between one job, or another. There are also non-wage factors such as job satisfaction, career prospects… As well fringe benefits or length of holidays, or good pensions. Job securities and the location of it also contribute to the factors that influence the choosing of one job or another.
However wage factors are the most important factors influencing the choice of occupation for many individuals. This is because, most people work to make money. So although there are many other factors that affect choice occupation, wage is the most important. Its about what you earn? how you earn it?... This is the most important thing, as its the reason to why people work. So if a job happens to have any other benefits, or advantages, it just adds reasons to why choosing it.
It can also be the other way for other people. For example for people with family the location, or the length of holidays may be important to them. If you know where you want to work and how to get there, you may want to get a job were you have the opportunity to go higher up or to another job, thanks to the one were you have been working previously. There are also some workers, who will work at a lower pay just because they enjoy what they do.
All of these wage and non-wage factors, are different to each person, as it is a individual choice.
When you choose a job you take into account, many different factors which are separated in wage and non-wage factors, the choice of occupation depends on the reward you receive for that occupation. The higher the reward the more attractive that job is.
ReplyDeleteYour wage rate is one of the main reasons to take a job, however there are many other factors, such as job satisfaction, people may accept a lower wage rate only for their work satisfaction, another reason may be the career prospects, when people may choose a job where there is opportunity for promotion. However one of the main non-wage factors are the fringe benefits which are non-financial benefits, such as subsidised housing, payment of school fees, company cars or subsidised company products. Finally other factors may be the length of holidays, an example are teachers, good pension schemes, job security, or the location of the job.
However the main reason to take a job is still your wage rate, which is divided into 4 parts, firstly your basic pay, which you get monthly, furthermore you get payed overtime, which is about people working more hours than the agreed hours to earn more money, another type of payment are the bonuses, which is a payment used by employers to incentive their employees to work harder, and finally you may get payed commissions, which is a payment made as a percentage of sales that a salesperson makes. Overall, with all the additional payments you get payed, you have earnings.
In conclusion, when you choose an occupation yo take into consideration various factors such as the length of holidays or the fringe benefits, however on of the most important factors if not the most is your wage rate, however to get access to the higher wage payments, you need to have important skills and a lot of training, you can also access the high wgaes in dangerous jobs for the risk they are taking.
The factors that influence the choice of occupation are how much profit they make, and the wages, in other words, the salaries, of the people that work over there, and the salaries of the consumers. But there are also much other things which influence
ReplyDeletethe choice of occupation which are the following, job satisfaction, fringe benefits, mobility, and business reputation. Job satisfaction is how content an individual is with his or her job. An example would be being that you work as a football player and you really like playing football. Then fringe benefits consist of non financial benefits given to employees such as their job security, their length of their holiday and their pension scheme. Furthermore mobility is an important fact as the job you are offered may be on another country and so you would have to move house also the job way be very far of the place wre you live and so it would be much impractical. Finally a factor which influences when choosing a job may be business reputation for example you may be going to be employed by a business which has the tendency of firing the employees which have not been a month on the business working.
Discuss whether wages are the most important factor influencing the choice of occupation for many individuals.
ReplyDeletePeople go to work to earn wages. They choose between different jobs or occupations depending on how much they can earn and other non-wage factors. Non-wage factors will make some jobs more attractive than others. They include holidays and pension entitlements, promotion prospects, job security and travel to work times. Wage levels and non-wage factors affect the attractiveness of a job.
Other non-wage factors that affect the influence of the choice of an occupation include the working conditions and general health and safety, by this I mean that your employer is conscious and aware of the dangers that a job may have and take the necessary precautions to avoid accidents which involve regular training and the provision of safety equipment.
Also, promotion prospects are a major factor which influences people’s decisions. A good employer will have schemes in place that provides career progression so that an employee can fulfil their potential. For example, starting off in a junior position and working their way upwards.
To add to this, the proximity must be within reasonable travelling distance from your home. If you were to live miles away from where you work this would a factor to take into consideration due to time taken and cost.
Finally, a key factor to consider is fringe benefits which includes holidays, company cars, school fees being paid or private health care. An example of this is someone who works for the embassy.
When you are choosing a job you must take many things into account and not just the gross pay. There are many types of rewards you can get for working, the main ones are job satisfaction, for example you may have studied to be a surgeon and you could perfectly be it and there you would get a big pay but yet you decide not to because you have always liked pottery so instead of being what you don´t like for al lot of money you are what you want for little money. Another one is career prospects, which means getting a job in order to get a better one later, for example you may start as a salesman and end up working as global director of sales. The last but not least main one is Fringe benefits this would be benefits that you can´t really measure like company car, how do you measure a car, it can also be subsidized housing, for example if the company moves you to a different place they will probably pay for the housing. It can also be the payment of children school fees, this can be done in two ways either the school is selected by the company or the school is selected by the employee and the company limits itself to paying. The other main Fringe benefit is subsidized products, this would be that you either get a discount in company products or the give you some free in compensation for years works , something they have done wrong etc…, one example of this would be that if you are an air hostess you get free plane tickets. Of course there are many more things that influence your decision like length of holidays, pension schemes, job security, and location of job… In conclusion salary is not the most important thing when deciding upon your work.
ReplyDeleteBy Javier Silva
Choice of occupation depends on the reward you receive for that occupation, rewards consist of wage rewards and non-wage rewards. Wages are payments for carrying out work, usually the higher the wage the more attractive the work is. For example doctors get paid more than drivers, but doctors require much more training and skill development.
ReplyDeleteFor many individuals wages are not the most important factor influencing the choice of occupation. Many people are prepared to work for less pay if they really enjoy the work and at the end of the day they end with a high satisfaction. For example a doctor how has the skills and is trained to work in a high paid job may choose to work in a less paid job as a ONG, as he finds more satisfaction helping the undeveloped world.
Furthermore many people choose to work in occupations where there is opportunity for promotion.
Finally there are lots of non-financial benefits given to employees also known as fringe benefits, this are benefits that attract individuals. Some of those benefits may be subsidised housing, payments of school fees, company car, subsidised company products…
andrea de cruz
Well done everyone.
ReplyDeleteAll the answers here are great. Very concise and to the point.
You all outlined wage and non-wage factors clearly.