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Subject:RE: Reality Check II - salaries in the new world From:"Roy, Gary" <RoyG -at- hydroaire -dot- com> To:"TECHWR-L" <techwr-l -at- lists -dot- raycomm -dot- com> Date:Fri, 18 Jan 2002 11:56:29 -0800
The amount of compensation companies are willing to pay for services can
also be categorized in the same manner as economic systems:
Market approach: Direct compensation is dependent upon market demand and the
negotiating skills of the candidate. Go for the gusto! Be aware of how much
a company is willing to pay for the job, but also factor the scarcity of
resources/skills, cost of living in the region, and the net value of your
services. For example if a company is paying you $10K/year to produce a
manual that is sold at $400,000 in annual revenue (or a $400,000 savings in
service calls), someone is getting the short end of the stick.
Command approach: The amount offered by the requisitioning agency is based
on status quo. Salary scales, perceived value, and direct/indirect labor
budgeting are used to determine the level of compensation for the offer of
employment. Basically, you get paid based on the compensation given to your
co-workers, more or *less*.
I relocated from Canada to the US this year because a socialist 'near'
command approach (Canada) is less advantageous (I'll refrain from venting
about the tax rates) for the service provider than a commodity based market
approach (US), with respect to compensation. Furthermore, the market in the
US is about tenfold the aerospace/tech. market in Canada. An Economics
Professor once told me that price and demand are directly proportional.
How do you accurately assess the market demand?
Is Shaquille O'Neal (LA Lakers) worth 20 million per year? If he (or his
agent) has the innate skill to negotiate that degree of compensation, and
there is a market for his skills (i.e. $300+ for center-court seats,
publicity) all the power to him! Your earnings should not be based solely on
the aggregate market (many of these economic indicators are merely smoke and
mirrors); the financial position and immediate needs of the *individual*
company are probably better determinates of their ability to provide higher
compensation.
The *new* world is the *old* world ... How many people got rich from
building the Chrysler building, in New York City, during the Great
Depression?
Gary Roy
Crane Aerospace
3000 Winona Avenue
Burbank, California
USA 91510
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