Appraising and Rewarding Performance
Appraising and Rewarding Performance
I am a young professional (financial analyst) and I make roughly 35,000 dollars a year, which equates to about $17 per hour. It has taken me degrees and over ten years to reach this amount. I am not complaining by the any measure because I work in state government and it a common fact that we are paid less than the private sector (and the benefits are amazing). But the bottom line is that I had to work hard to get here. It wasn’t just offered to me on a silver platter by a government mandate. This brings me to my point that a minimum wage rate of 15 dollars is just too high for any city.
Now in Seattle there was a vote to progressively increase minimum wage to 15 dollars per hour. The reasoning was for this astronomical wage rate is As promised, “the $15 per hour figure is a bit art and a bit science, but it 's close to what experts say it costs in our area for a full-time worker to meet basic needs (housing, food, utilities, transportation, etc.). (Clark, 2014) Yet, they did not factor in those who usually make minimum wage. The graph below represents the wage rate broken down by age:
Now when I was making minimum wage, I was still in my father’s house and I didn’t have hardly any responsibility in regards to bills or spending for that matter. I feel the same is true in Seattle. There are roughly 44,000 workers between the ages of 16 and 24 in Seattle and 26 percent of them make below $15 per hour. Additionally, there are over 120,000 workers in the 25 to 34 age range and 25 percent of them are earning below $15 per hour. Conversely, lower-wage workers comprise just 15 percent or less of all other age categories. (Jones 2014) I can see this being an issue with young people who are in salaried professional positions, but most salaried positions are paying higher than minimum wage. Also it looks as if the youth would be the majority of the ones benefiting from this increase, and they don’t necessarily need it. They do
I am a young professional (financial analyst) and I make roughly 35,000 dollars a year, which equates to about $17 per hour. It has taken me degrees and over ten years to reach this amount. I am not complaining by the any measure because I work in state government and it a common fact that we are paid less than the private sector (and the benefits are amazing). But the bottom line is that I had to work hard to get here. It wasn’t just offered to me on a silver platter by a government mandate. This brings me to my point that a minimum wage rate of 15 dollars is just too high for any city.
Now in Seattle there was a vote to progressively increase minimum wage to 15 dollars per hour. The reasoning was for this astronomical wage rate is As promised, “the $15 per hour figure is a bit art and a bit science, but it 's close to what experts say it costs in our area for a full-time worker to meet basic needs (housing, food, utilities, transportation, etc.). (Clark, 2014) Yet, they did not factor in those who usually make minimum wage. The graph below represents the wage rate broken down by age:
Now when I was making minimum wage, I was still in my father’s house and I didn’t have hardly any responsibility in regards to bills or spending for that matter. I feel the same is true in Seattle. There are roughly 44,000 workers between the ages of 16 and 24 in Seattle and 26 percent of them make below $15 per hour. Additionally, there are over 120,000 workers in the 25 to 34 age range and 25 percent of them are earning below $15 per hour. Conversely, lower-wage workers comprise just 15 percent or less of all other age categories. (Jones 2014) I can see this being an issue with young people who are in salaried professional positions, but most salaried positions are paying higher than minimum wage. Also it looks as if the youth would be the majority of the ones benefiting from this increase, and they don’t necessarily need it. They do
References: Clark, S. J. (2014, June 03). Why Seattle raised our minimum wage, and why America should too. Retrieved from: http://www.cnn.com/2014/06/03/opinion/clark-seattle-wage Jones, N. (2014, March 1). Recent News. Retrieved from http://www.seattlejobsinitiative.com/beyond-the-headlines-seattles-workforce-the-15-minimum-wage/ Newstrom, J. W. (2011). Organizational behavior: Human behavior at work (14th ed.). New York: McGraw-Hill.