Instead, what the Galaxy and the other sponsors were paying for was his very famous name and his ability to attract notice from the press and the public
the key issue is the employer’s ability to pay.
he consulting fees,
employer controls the entire process, thereby ensuring the quality and appropriateness of the data
required expertise must be available.
The first steps in analyzing the survey data involve assessing the central tendency of pay and the variation across employers. There are two ways to assess central tendency. Using a mean average (sometimes known as a simple average), you add up the midpoints of the pay range for a given job at each company and divide the sum by the total number of companies. Of course, this weights all employers equally, regardless of whether they employ one or one thousand of the employees performing the target job. Therefore, some firms compute a weighted mean(sometimes known as a weighted average) by weighting each employer according to how many employees that employer has performing the target job. You can also calculate a simple average or weighted average of the mean base pay, performance pay, and indirect pay across the sample of firms. A simple average mean pay gives an indication of pay policies used by a typical firm for a given job, while a weighted average mean pay gives a better indication of what the typical employee in a given job is earning
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