Report on Factors Affecting Wages of Employed Persons

Added on - 03 May 2020

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Factors affecting wages of employed personsName:Student Reg.:School:Department:Course:Task:Lecturer:ContentsIntroduction..................................................................................................................................3
Research Problem........................................................................................................................3Research hypothesis.....................................................................................................................3Description of data.......................................................................................................................3Data analysis methodology..........................................................................................................4Results and discussion.................................................................................................................5Descriptive statistics.................................................................................................................5Inferential statistics...................................................................................................................6Relationship between working hours and wage.......................................................................6Relationship between gender and wages..................................................................................8Conclusion...................................................................................................................................9References....................................................................................................................................9
IntroductionWages are affected by different factors from personal to group factors. When company ororganization is determining the salary and wages structure of employers, these factors should beput into consideration labour unions, personal perception of wage, cost of living, governmentlegislation, ability to pay and demand and supply. At personal level factors that determine wagesinclude worker’s age and capacity, educational qualifications, worker experience, promotionspossibilities, gender and profit earned by the organization. Waged laborer’s can be divided intoemployed which are self employment and waged employment and unemployment. Organizationperceives wages as hourly or salaried wages. Wages include relief pay, family allowance,financial support and any other benefit originating from the firm.Personal characteristics affect the wages level. Education qualification influences the wage oneget. According Lazear E. (2005) degree education result to higher pay than those employees whohave only college or high school qualification. The study established positive linear correlationbetween wages and education. An increase in education qualification resulted to a higher pay andvice versa.In terms of age the older the employees the higher the experience and thus earn higher pay thanthose who are younger. Old age is associated with experience and higher skills to do job bettercompared to those who are young. Though higher age is associated with higher risk in term ofenergy and more time consumed doing a job, (Kidd P., 1993).Gender disparity also affects mechanism and passion of doing a task. Male are associated withhigh vigor and mechanism and thus in jobs that require a lot of energy and mechanism tend toget higher pay. Females attract more pay in jobs such as customer relation, marketing and frontoffice. These factors also affect male and female choices in employment, (Kunhn P. & SchuetzeH., 2001).Research ProblemThe study tries to answer the question of wages imbalance in different organization. What are thefactors that lead to this imbalance? Why are some employees doing the same job and in sameorganization getting different wages?Research hypothesisNumber hours one spends working affect wages one get?The report tries to identify if there exists any difference between employees working long hoursand those who are working in short hours.Gender affects wages of employee?The study will try to identify how gender affects wages of employees.
Description of dataThe data set had seven variables that isage of employee in years, gender of employee(1 represent male, 2 female)Measure of education qualification that is number of degree employee posses.Number of hours the employee spend in work in a year.Salary of employee in dollar per yearNumber of kinds the employee have as measure of family responsibility.Marital status of the employee (0 unmarried and 1 Unmarried).The 30 persons sample was chosen at random to represents a population of people who are in thearea. They had formal education and were below age of 35 years. Number of degrees, age ofrespondent, wages and hours of working hours are numerical data while gender of respondent iscategorical data. As shown below by a screen shotThe sampling frame where data was obtained is from my neighbors and friends who are wagedemployees. They consist of male and female employees, according to demographic setting of ourlocality males are many compared to females. The target population was first divided intogroups’ males and females, and then respondents to the survey were chosen at random. Thissampling method ensures one obtains a representative sample of the population that is allcharacteristics of population are present in the population and each member of population haseach chance of being in the sample this eliminates biases that could originate from theresearcher. The type of study was survey method where questionnaires were used as tool of datacollection. The questionnaires had set of questions require to obtain the data which therespondents was required to answer. They were self administered to the sample to reduce nonresponse. Excel software was used in data entry and data cleaning and also data analysis andreport was written in Microsoft word.
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