The highest paid people should possess a good combination of skills, qualification and personality traits.
The more unique the skills required and the fewer qualified people, the higher the pay offered. Organizations compete for talents to outdo or defeat the competition.
Click HERE for ideas in managing compensation. Organizations cannot continue the practice of causing other organizations loss of talents.
Where can you find the highest paid jobs?
The highest paid people are found in engineering, securities and financial services and sales in certain industries such as wholesalers and manufacturers of technical as well as scientific products.
In the United States, a recent survey (2012) found that the ten highest paid workers include:
The order of the names may change positions as time passes by.
Lowest Paid People
Currently the lowest paid people in the United States include those who work as:
You would have heard people referring to this group of people as "the working poor". As in the case of highly-paid people, the lowest paid people vary from place to place and country to country.
In 2011, the following are Asia's top 10 highest paid jobs:-
You will notice that most of the highest paid people in Asia are in health.
The 10 Highest Paid Workers in Singapore for 2011-2012 (By Jacelyn Lim)
As compared to those highest paid, workers who receive very low pay perform jobs that are mainly transactional in nature, of low value and low risk.
The above information show that the order of high value jobs in the West are not necessarily the same as that of high value jobs in Asia although the holders are still among the highest paid people.
One other observation is that HR people are neither found among the highest paid people nor among the lowest paid people.
The above information may help corporate leaders formulate compensation plan in order to retain people whose service is necessary for their continued success.It is important to remember, however, that things may change depending on future developments that have great impact on pay.
Are highly paid people happy? Are they productive?