When looking at job options, what are the top three compensation factors that influence your decision? How are those fac...
When looking at job options, what are the top three compensation factors that influence your decision? How are those factors different from what they may have been five years ago? As you change, your compensation interests change as well. What do you think some of the changes are that have impacted your top three compensation factors?
Homework Answers
Top three compensation factors that influence your decision are the location and cost of living component, the annual pay reviews and raises, the industry trends for similar jobs and experience.
These factors are different from what they may have been five years ago as with growing competition and diversification of businesses in various sectors and regions. There are jobs available at various locations and with proper compensation paid the limitation of location like long distances or tough climatic conditions can be overcome. Also, there is more awareness of industry standards and efforts by firms to pay as per the industry trends now than five years ago.
Some of the changes that have impacted the top three compensation factors are rising costs of living, challenges of transport and accommodation, lifestyle costs and stress related to jobs so that the income can provide a security and support in the long term.
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