What is That Job Worth, writing homework help

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The purpose of this assignment is to help you better understand the range of wages for a job in the marketplace. You will use data collected by the US Bureau of Labor Statistics for this assignment. The data can be found at http://www.bls.gov/oes/current/oes_nat.htm
Take an assigned job. Job assignment is a function of the first two letters of your last name. (my last name is gao)

First letter(s) of last name SOC Code Title
A 35-3022.1 Baristas
B 51-9194 Etchers and Engravers
CA – CH 13-1051 Cost Estimators
CI-CZ 13-1131 Fundraisers
DA-DI 13-1081.01 Logistics Engineers
DO-DZ 35-3011 Bartenders
E-F 13-2082 Tax Preparers
G 29-1061 Anesthesiologists
H 29-9091 Athletic Trainers
I-J 292092 Hearing Aid Specialists
K 51-9081 Dental Laboratory Technicians
L 51-5112 Printing Press Operators
M 51-2092 Team Assemblers
N-O 53-2031 Flight Attendants
PA-PH 53-5031 Ship Engineers
PI-PZ 47-2021 Brickmasons and Blockmasons
Q-R 47-4031 Fence Erectors
SA-SH 17-2031 Biomedical Engineers
SI-SZ 21-1094 Community Health Workers
T-V 21-1014 Mental Health Counselors
W-Y 15-2041 Biostatisticians
Z 45-4022 Logging Equipment Operators

Find the job in the listing of occupations. I will provide an example using SOC 43-4171: Receptionists and Information Clerks. Jobs are listed by SOC Code. All occupation breakouts used by the US Government are categorized by the SOC Code. “SOC” stands for System of Occupational Classification. Occupations are broader than jobs, and some of the wage variation is a function of the different jobs grouped under each occupation. 
 
 
 
Assignment: To turn in. Answer the following questions. 

  1. Note the job you have been assigned.

SOC 43-4171: Receptionists and Information Clerks

  1. Copy and paste the national estimates for the occupation:

Employment estimate and mean wage estimates for this occupation:

Employment (1) Employment
RSE 
(3)
Mean hourly
wage
Mean annual
wage 
(2)
Wage RSE (3)
1,052,120 0.5 % $12.50 $26,010 0.2 %

Percentile wage estimates for this occupation:

Percentile 10% 25% 50%
(Median)
75% 90%
Hourly Wage $8.26 $9.88 $12.05 $14.65 $17.61
Annual Wage (2) $17,180 $20,540 $25,070 $30,480 $36,620

Government survey estimates suggest there were 1,052,120 Receptionists and Information Clerks in the US in May 2009. The average salary was $12.50 per hour; the median salary was $12.05 per hour. 

  1. Why do you think wages are reported on an hourly basis?
  2. What is the difference between the mean and the median?
  3. Most companies base pay on medians rather than means. Why might this be? Why would the median tend to be lower than the mean?
  4. What is the ratio of the 90th percentile to the 10th percentile? (In this case it is $17.61/$8.26 = 2.13: the 90th percentile employee is paid more than twice the 10th percentile employee. What might explain this differential? What impact does it have on an organization’s decision about what to pay a receptionist?

Now look at the different rates for various industries, states, and MSAs. (A MSA is a Metropolitan Statistical Area.)

  1. Do the different rates for different industries and localities help understand wage differentials for the same job?
  2. Do you think there are likely to be differentials within each industry or area? Why?

In answering these questions use the data from your job to illustrate your answers. 

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