Choose your worth?

[ricechickie]

You stated:

"Every person I know is paid EXACTLY what their production is worth."

You seem to have made it your concern

Not my concern, they chose what they are worth by accepting the job. If they think they are worth more, they need to make their skills more valuable to an employer.

Question: is an employee always paid what they are worth?

And does our job market prioritize which jobs are most important, and pay accordingly.

I'm thinking of nursing vs. investment banking. Which one will people say they value more? Which one pays more? Is that a reflection on the value of the profession?

 

[SassyIrishLass]

To a hospital a nurse has more value. To Merrill Lynch an investment banker has more value. Different fields pay different salaries and people know what salaries average going in, or should anyway.

I have to laugh at people who get a degree is a field like oh say women's studies and then are stunned when they find jobs are scarce and don't pay well

 

[ricechickie]

To a hospital a nurse has more value. To Merrill Lynch an investment banker has more value. Different fields pay different salaries and people know what salaries average going in, or should anyway.

I have to laugh at people who get a degree is a field like oh say women's studies and then are stunned when they find jobs are scarce and don't pay well

Yes, but which job do you think society needs more?

 

[Pogo]

To a hospital a nurse has more value. To Merrill Lynch an investment banker has more value.

True, but more to the point, to the human race a nurse has WAY more value.

 

[Pogo]

I have to laugh at people who get a degree is a field like oh say women's studies and then are stunned when they find jobs are scarce and don't pay well

Of course you do. That's because you're hopelessly boxed in to the idea that the only reason to get a degree is to qualify for a certain salary level.

 

[task0778]

" Question: is an employee always paid what they are worth? "

That depends on how you determine what 'worth' means. You can talk about the value to society and/or the social good a specific job provides but I think we all know that isn't how a person's wage is determined. It's all about supply and demand, labor is just another commodity whether we like it or not. With the caveat of whether or not there are cheaper alternatives, i.e., robots. It may not be just or fair, but it is reality and it isn't going to change anytime soon.

 

[ricechickie]

To a hospital a nurse has more value. To Merrill Lynch an investment banker has more value.

True, but more to the point, to the human race a nurse has WAY more value.

So why do they get paid, as a profession, so much less? Can a nurse "make their skills more valuable to their employer" ( like Markel said) to rise up to investment banking income?

 

[SassyIrishLass]

To a hospital a nurse has more value. To Merrill Lynch an investment banker has more value. Different fields pay different salaries and people know what salaries average going in, or should anyway.

I have to laugh at people who get a degree is a field like oh say women's studies and then are stunned when they find jobs are scarce and don't pay well

Yes, but which job do you think society needs more?

Obviously nursing. But with that said careers are a choice, my sister is a flight nurse and makes very good money, I got my degree in economics/finance, that's why I found your examples interesting

 

[Pogo]

To a hospital a nurse has more value. To Merrill Lynch an investment banker has more value.

True, but more to the point, to the human race a nurse has WAY more value.

So why do they get paid, as a profession, so much less? Can a nurse "make their skills more valuable to their employer" ( like Markel said) to rise up to investment banking income?

They get paid less because they don't deal in greed.
Same with teachers. They don't make anybody directly rich.

 

[Billy_Kinetta]

I have to laugh at people who get a degree is a field like oh say women's studies and then are stunned when they find jobs are scarce and don't pay well

Of course you do. That's because you're hopelessly boxed in to the idea that the only reason to get a degree is to qualify for a certain salary level.

A degree that does not generate capital for the holder is a vain exercise. You can gain the same knowledge without paying for a degree.

 

[Darkwind]

To a hospital a nurse has more value. To Merrill Lynch an investment banker has more value. Different fields pay different salaries and people know what salaries average going in, or should anyway.

I have to laugh at people who get a degree is a field like oh say women's studies and then are stunned when they find jobs are scarce and don't pay well

Yes, but which job do you think society needs more?

Why does that even matter?

 

[SassyIrishLass]

To a hospital a nurse has more value. To Merrill Lynch an investment banker has more value.

True, but more to the point, to the human race a nurse has WAY more value.

So why do they get paid, as a profession, so much less? Can a nurse "make their skills more valuable to their employer" ( like Markel said) to rise up to investment banking income?

I Googled the salaries of a flight nurse and an investment banker, as far as base salary they are pretty close, around 75K a year, the difference is the banker is usually awarded a bonus based on performance which can lead to a yearly salary of around 100K to 150K, the investment bankers also usually get a sign on bonus according to the site, I have no idea if nurses do

 

[Pogo]

I have to laugh at people who get a degree is a field like oh say women's studies and then are stunned when they find jobs are scarce and don't pay well

Of course you do. That's because you're hopelessly boxed in to the idea that the only reason to get a degree is to qualify for a certain salary level.

A degree that does not generate capital for the holder is a vain exercise. You can gain the same knowledge without paying for a degree.

so you think a degree is some kind of "capital investment"?

 

[ricechickie]

" Question: is an employee always paid what they are worth? "

That depends on how you determine what 'worth' means. You can talk about the value to society and/or the social good a specific job provides but I think we all know that isn't how a person's wage is determined. It's all about supply and demand, labor is just another commodity whether we like it or not. With the caveat of whether or not there are cheaper alternatives, i.e., robots. It may not be just or fair, but it is reality and it isn't going to change anytime soon.

"Worth" in this scenario just means how much income you can get.

I understand that there's a market aspect to this. If there's too many people if a certain profession, and the demand doesn't keep pace, incomes will decrease.

But st the same time, when you talk about professions where the employees are practically canonized as invaluable to society, it does not follow that pay is commensurate to the praise. Nursing is one. Teaching is another. Firefighters, too.

 

[SassyIrishLass]

" Question: is an employee always paid what they are worth? "

That depends on how you determine what 'worth' means. You can talk about the value to society and/or the social good a specific job provides but I think we all know that isn't how a person's wage is determined. It's all about supply and demand, labor is just another commodity whether we like it or not. With the caveat of whether or not there are cheaper alternatives, i.e., robots. It may not be just or fair, but it is reality and it isn't going to change anytime soon.

"Worth" in this scenario just means how much income you can get.

I understand that there's a market aspect to this. If there's too many people if a certain profession, and the demand doesn't keep pace, incomes will decrease.

But st the same time, when you talk about professions where the employees are practically canonized as invaluable to society, it does not follow that pay is commensurate to the praise. Nursing is one. Teaching is another. Firefighters, too.

The military is another, grossly underpaid

 

[ricechickie]

To a hospital a nurse has more value. To Merrill Lynch an investment banker has more value. Different fields pay different salaries and people know what salaries average going in, or should anyway.

I have to laugh at people who get a degree is a field like oh say women's studies and then are stunned when they find jobs are scarce and don't pay well

Yes, but which job do you think society needs more?

Why does that even matter?

Maybe it doesn't to you.

 

[Billy_Kinetta]

I have to laugh at people who get a degree is a field like oh say women's studies and then are stunned when they find jobs are scarce and don't pay well

Of course you do. That's because you're hopelessly boxed in to the idea that the only reason to get a degree is to qualify for a certain salary level.

A degree that does not generate capital for the holder is a vain exercise. You can gain the same knowledge without paying for a degree.

so you think a degree is some kind of "capital investment"?

A degree is an indicator of study. If you have knowledge of a subject not in demand, then your degree has worth only to you.

 

[SassyIrishLass]

I have to laugh at people who get a degree is a field like oh say women's studies and then are stunned when they find jobs are scarce and don't pay well

Of course you do. That's because you're hopelessly boxed in to the idea that the only reason to get a degree is to qualify for a certain salary level.

You have a worthless degree don't you?

 

[task0778]

I have to laugh at people who get a degree is a field like oh say women's studies and then are stunned when they find jobs are scarce and don't pay well

Of course you do. That's because you're hopelessly boxed in to the idea that the only reason to get a degree is to qualify for a certain salary level.

A degree that does not generate capital for the holder is a vain exercise. You can gain the same knowledge without paying for a degree.

so you think a degree is some kind of "capital investment"?

In some cases it is. Within a given career field a person with a degree makes considerably more than a person who doesn't and they're both doing the same job.

 

[Darkwind]

To a hospital a nurse has more value. To Merrill Lynch an investment banker has more value. Different fields pay different salaries and people know what salaries average going in, or should anyway.

I have to laugh at people who get a degree is a field like oh say women's studies and then are stunned when they find jobs are scarce and don't pay well

Yes, but which job do you think society needs more?

Why does that even matter?

Maybe it doesn't to you.

It doesn't to anyone.

The compensation of a job is based upon the value to brings to the employer. Society has nothing to do with it.