Wage Factors
- The occupational choices of workers are influenced by a range of wage & non-wage factors, which are often held in balance when making decisions about where to work
- Wage factors are financial payments that workers receive for their labour
- Non-wage factors incorporate a range of influences that are meaningful to a worker
A Summary of Wage Factors That Influence Occupational Choices
Factor |
Explanation |
Wages |
|
Salary |
|
Commission |
|
Bonus |
|
Piece rate pay |
|
Performance related pay (PRP) |
|
Share options |
|
Fringe benefits |
|