Determining fair pay
How can I find out what is fair pay for a given job?
Your employment interview process can give you insights into what compensation the market will bear. Actually, fair pay should be determined when an employee accepts a job from an employer.
But such levels are heavily influence by competitive market conditions. An employer who has an awareness of competitive pay practices gains an important understanding of the factors used to set pay levels.
Determining what to pay employees depends on various issues, such as: industry, geographic market conditons, public or private sector, union or non-union environment, and wage-hour laws.
The detailed statistics available from the U.S. Department of Labor Bureau of Labor Statistics (www.bls.gov) can be an excellent resource on wages in the United States.
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