Paid what your Worth

Paid what your Worth

Today we are talking about Supply and Demand in the Job Market.

The Market will pay you what you are worth. Jobs that few can do, which are important, will be better compensated than easy jobs or jobs that lots of people want.

For example, Math jobs (difficult) combined with Engineering (important) equals high pay. However, Math jobs (difficult) combined with Teaching (desirable schedule) equals low pay.

This combination also works with risk. Difficult jobs with limited risk of success will be better compensated than difficult jobs with a high probability of success.

The thing to remember is to compare what you want to do with where/who will pay the most for it.


1. Classify your prospective job, how does it rank in the difficulty/importance scale?

2. Why are jobs that have few available positions (Management/Sports/National Politics) highly compensated?

3. If given that the above is true, why is it that Police officers are not well paid?


Lecture Guide

PowerPoint: Job Offers

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