Explain why the degree of variation in the range of earnings across various jobs and income disparity in our economy is justified.
Review the range of earnings across various jobs and the income disparity in our economy on salary.com.
I am not really inclined to see the problem with such degree of income variation. The tools at salary.com seem to indicate how the free market values these incomes. The salary disparity and earned income disparity seems to suggest that different jobs are valued at different rates because of the work involved, the training needed, or the qualifications that are required. I am not sure that there is problem in the free market economy for income variance. This is what the market demands and accounts for the divergence in the marketplace. I see a challenge if all jobs in the marketplace are valued through compensation at the same rate. A profession that requires less training and less background experience should not be valued with the same income as one that requires more. Salary.com does not seem to indicate a problem in terms of the salary differences, as much as a statement as to how divergent the marketplace really is. Where I would see problems, and this is not in salary.com, is if two people are doing the same work with the same requirements and are being compensated in vastly different ways. For example, I think that gender imbalance in work earnings is more of a problem than there issue of income disparity. Yet, the differences in payment, regardless of the extremes, does not indicate problems. For me, this is merely a statement of the divergence of the marketplace.