Business Insider, May 23, 2013, Thursday

Business Insider

May 23, 2013, Thursday

Business Insider (full article)

Why Pretty Much Everyone Thinks They're Underpaid

Kevin Hallock, director of the Institute for Compensation Studies, professor of economics at Cornell University and author of a recent book titled, Pay: Why People Earn What They Earn and What You Can Do Now to Make More, notes that "many large companies have administrative pay functions that are very formalized. They include clear compensation grids, matching to external data, use of surveys and so forth. Even for jobs that aren't common in a company's particular market, there are ways to slot them in and figure out what the market might pay someone [who has skills important to the organization]. So there is actually quite a bit of science in this."