A salary survey is a systematic process of collecting and making judgments about the compensation paid by competitors. The goal of all salary surveys is almost similar. They offer the data for setting the pay policy about payment and translating that strategy into pay levels and structures. Survey of welders and financial managers shares some similarities. First, both surveys provide the data for setting the compensation policy. Second, welders’ survey and financial managers’ survey form the basis for adjusting the pay mix. Third, both welders pay survey, and financial managers pay survey are used to adjust pay structures accordingly. Third, both welders' survey and financial managers' survey are used to estimate competitors' labor cost. Through pay survey, the company will be able to determine the number of competitors and their compensation structures. Also, pay survey will enable the business to determine the number of related jobs within a given geographic region.
Despite the similarities, the salary survey for welders differs from the salary survey for financial managers in many ways. First, the target population and survey population for financial management are relatively wider and high as compared to the target and survey population for welding jobs. Financial management is subdivided into accounting, consulting services, financial services, executive management, banking and IT. Consequently, unless the researcher define the specific population, the survey for financial managers is relatively more complex. Also, the sampling frame for financial management is more complicated than the sampling frame for the welding field (Cook, 1995). In other words, the means of accessing financial management samples is relatively harder than the means of accessing welding salary survey.
Delegate your assignment to our experts and they will do the rest.
Designing survey can be a complicated and time-consuming activity (Couper, 2008). Instead of designing a survey, would it be more appropriate to use pre-collected data from an Internet source such as salary.com? Salary.com offers comprehensive job descriptions for any field. Salary.com is also easy to use. The researcher will just key in the job title or key work such as “welder” or “financial manager”. He or she then select the geographic location for a study such as Georgia or California. The site will open all the job descriptions, salary levels, and compensation structures. The salary.com also has a place where the researcher can compare different jobs under a given field. National compensation survey is not suitable for refined comparison because they offer general pay structures.
References
Cook, L. (1995). A Guide to a good survey design . Wellington, New Zealand.
Couper, M. P. (2008). Designing Effective Web Surveys . Cambridge: Cambridge University Press.
Salary.com
