Choose your worth?

[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.

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.

Stock brokering is a perfect example of that

 

[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?

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

But a flight nurse is a sort of specialty, correct? I would expect them to make more than an RN in the hospital.

 

[Pogo]

" 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.

And that's because that's what reflects our values. Wiser than I have noted that this country does indeed have a national religion and it is the religion of Money. It's sacred and its priests are more than amply compensated. Whoever can generate money is venerated as a Prophet.

On the other hand we're not at all crazy about life and Nature. At best we ignore it, at worst destroy it. So those who do things to preserve it, well that's just not a high value priority for a Money society.

 

[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

But a flight nurse is a sort of specialty, correct? I would expect them to make more than an RN in the hospital.

Yes it is, I'd have to look up salaries of a regular RN that works hospitals

Not really a huge difference....

As per the Bureau of Labor Statistics, the average income for registered nurses was $71,000 per annum, in May 2015. The mean hourly wages was reported to be $34.14. The total number of RNs employed throughout the USA was 2,745,910.

 

[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.

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.

.

The employer just arbitrarily makes up salaries?

No, it's based on a customer base. An employer has goods or services that others buy. So a good portion of deciding compensation for employees depends upon how much consumers are willing to pay.

 

[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.

"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.

True.

" 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.

And that's because that's what reflects our values. Wiser than I have noted that this country does indeed have a national religion and it is the religion of Money. It's sacred and its priests are more than amply compensated. Whoever can generate money is venerated as a Prophet.

On the other hand we're not at all crazy about life and Nature. At best we ignore it, at worst destroy it. So those who do things to preserve it, well that's just not a high value priority for a Money society.

For some, money is the top priority, maybe even the only priority. For others, things like helping others and a greater value to society take a greater precedence. Whatever floats your boat I guess. I do believe that there are people who drop out of the money race to something more meaningful though, so people can change.

 

[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?

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

But a flight nurse is a sort of specialty, correct? I would expect them to make more than an RN in the hospital.

Yes it is, I'd have to look up salaries of a regular RN that works hospitals

Not really a huge difference....

As per the Bureau of Labor Statistics, the average income for registered nurses was $71,000 per annum, in May 2015. The mean hourly wages was reported to be $34.14. The total number of RNs employed throughout the USA was 2,745,910.

I'll admit, that surprises me.

 

[SassyIrishLass]

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

But a flight nurse is a sort of specialty, correct? I would expect them to make more than an RN in the hospital.

Yes it is, I'd have to look up salaries of a regular RN that works hospitals

Not really a huge difference....

As per the Bureau of Labor Statistics, the average income for registered nurses was $71,000 per annum, in May 2015. The mean hourly wages was reported to be $34.14. The total number of RNs employed throughout the USA was 2,745,910.

I'll admit, that surprises me.

Me too actually. My sister is buzzing around and doesn't make that much more in salary

 

[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.

.

The employer just arbitrarily makes up salaries?

No, it's based on a customer base. An employer has goods or services that others buy. So a good portion of deciding compensation for employees depends upon how much consumers are willing to pay.

No, and no.

It is not arbitrary and your lack of education notwithstanding, the compensation of an employee is gauged against a standard wage of value which starts at the minimum wage and goes up from there.

How to Determine the Proper Pay Scale for Employees

Enjoy.

 

[Billy_Kinetta]

" 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.

And that's because that's what reflects our values. Wiser than I have noted that this country does indeed have a national religion and it is the religion of Money. It's sacred and its priests are more than amply compensated. Whoever can generate money is venerated as a Prophet.

On the other hand we're not at all crazy about life and Nature. At best we ignore it, at worst destroy it. So those who do things to preserve it, well that's just not a high value priority for a Money society.

So, you have divested yourself of the "national religion"?

 

[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.

"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.

And that's because that's what reflects our values. Wiser than I have noted that this country does indeed have a national religion and it is the religion of Money. It's sacred and its priests are more than amply compensated. Whoever can generate money is venerated as a Prophet.

On the other hand we're not at all crazy about life and Nature. At best we ignore it, at worst destroy it. So those who do things to preserve it, well that's just not a high value priority for a Money society.

So, you have divested yourself of the "national religion"?

LOL, if I worshiped the almighty dollar I wouldn't have stayed in the military for 22 years.

 

[Pogo]

" 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.

And that's because that's what reflects our values. Wiser than I have noted that this country does indeed have a national religion and it is the religion of Money. It's sacred and its priests are more than amply compensated. Whoever can generate money is venerated as a Prophet.

On the other hand we're not at all crazy about life and Nature. At best we ignore it, at worst destroy it. So those who do things to preserve it, well that's just not a high value priority for a Money society.

So, you have divested yourself of the "national religion"?

Not to the extent some have but I do practice as much sacrilege as I can.

 

[yiostheoy]

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?

Hello ricechickie !! So nice to hear back from you. Glad you came back again.

A better contrast would be between teachers versus investment bankers.

Teachers really get paid low wages and many of them wash out fast.

I knew an investment banker who was as corrupt as Newt Gingrich. This guy coincidentally even kept a photo of Newt in his office.

He was argumentative, stubborn, and inept by most professionals' evaluations. He is now retired, in his 80's, extremely rich, and he dotes on his kids and grand kids with gifts of money. And they love him for it.

Philosophically, you can only explain social injustice like this with moral and ethical indifference.

Religiously all you can conclude is that Lucifer (his Latin name given to him by St. Gerome) rewards his servants well.

Scientifically you can only infer that economic success is random and statistical.

All of life's questions can be plastered over with Philosophy, Religion, and/or Science. Either way it still hurts to see it first hand.

 

[yiostheoy]

LOL, if I worshiped the almighty dollar I wouldn't have stayed in the military for 22 years.

The military payoff is with retirement. It is early and generous for the military.

USAF is an exciting job. So is the Navy but with sea duty at times as well.

Army and USMC are more boring.

And if you want to be really safe there is also the USCG.

 

[yiostheoy]

But a flight nurse is a sort of specialty, correct? I would expect them to make more than an RN in the hospital.

My sister is a nurse. She loves her job and she is paid well. She is very happy doing it.

 

[task0778]

LOL, if I worshiped the almighty dollar I wouldn't have stayed in the military for 22 years.

The military payoff is with retirement. It is early and generous for the military.

USAF is an exciting job. So is the Navy but with sea duty at times as well.

Army and USMC are more boring.

And if you want to be really safe there is also the USCG.

The military payoff is a lot more than retirement.

 

[yiostheoy]

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

Society needs farmers, builders, clothiers, soldiers, sailors, airmen, marines, guardsmen, police, surgeons, nurses, teachers, grocers, machinists, and just about everyone and anyone who can carve a niche for themselves in modern society.

 

[yiostheoy]

The military payoff is a lot more than retirement.

I was addressing the financial payoff.

You have changed the subject by moving the goalposts.

Cute. Very cute.

List of fallacies - Wikipedia

 

[yiostheoy]

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

Why does that even matter?

Because ricechickie is young and idealistic and is trying to figure out what to do with her life.

All college kids and anyone changing their careers in midlife due to crisis ask this.

 

[task0778]

The military payoff is a lot more than retirement.

I was addressing the financial payoff.

You have changed the subject by moving the goalposts.

Cute. Very cute.

List of fallacies - Wikipedia

I know you were addressing the financial payoff, I was commenting on the belief that the payoff for a military career is more than just money. And you might've changed the subject a little bit yourself.