AccessMyLibrary provides FREE access to millions of articles from top publications available through your library.
Create a link to this page
Copy and paste this link tag into your Web page or blog:
THE VIEW FROM TAFT.
Byline: Regina C. Dy
As I was waiting at a coffee shop for a friend, I heard two new graduates deep in conversation about their future. The first young man stated that he would like a career in the IT industry and a starting salary at least above minimum wage. The second gentleman argued that with their skills, they should at least get double the minimum wage. So what determines the pay rate of these new graduates?
Companies have a standard pay scale or salary structure to gauge individual skills and knowledge. They use the John Stacy Adams' "Equity Theory," which looks at inputs and outputs. Inputs include the individual's time, effort, commitment, ability, trust, and skill, while outputs include job security, salary, esteem, recognition and responsibility. The …
