Human Resources -Market Data

MARKET DATA ASSIGNMENT      Name:  ______________________________

Job 1.   Financial Advisor

Sites referenced:   

 Name                                                                   URL

1.    Payscale                                                                                                                   https://www.payscale.com/research/KE/Job=Financial_Advisor/Salary.

2.    U.S. News                                                                                 https://money.usnews.com/careers/best-jobs/financial-advisor/salary.

3.    Prospects, U.K.                                                                        https://www.prospects.ac.uk/job-profiles/financial-adviser.

Market Range Data that you are comfortable recommending:

Three criteria you would use to place a person in your recommended range: 

1.     Low academic qualifications and limited experience in the financial advisory position would influence the decision to pay the worker under the minimum wage/salary bracket. Payment could also depend on the value of a company in terms of the number of customers needing financial advisors. Lastly, the minimum wage bracket implies low commission meaning that the wage of a financial advisor depends on the number of customers they introduce as a potential clients to a company or financial organization.

2.    The experience level determines a financial advisor working under the median wage bracket; that is, the worker has been in the company for more than two years. The work period implies that the worker has maintained work ethics and continually grown the customer base and the number of profits made by the company or financial organization. Additionally, the wage reflects the number of customers investing in the company due to association or influence from the particular financial advisor. 

3.    A financial advisor falling within the maximum wage bracket is most likely a senior financial advisor. The financial advisor has been working in the company for many years, precisely over five, and has popularity among customers and colleagues in the company/financial institution. The wage bracket could also be a reflection of the high academic qualification of the financial advisor. Additionally, the financial advisor has better experience than other financial advisors and has other responsibilities such as oversight and planning of organizational events meant to attract potential clients. The salary is, therefore, a reflection of the financial advisor's aggregate pay.

 Job 2. Private Banker

Sites referenced:      

 Name                                                                   URL

1.     Glassdoor                                                                                                https://www.glassdoor.com/Salaries/private-banker-salary-SRCH_KO0,14.htm

2.    ZipRecruiter                                                                                         https://www.ziprecruiter.com/Salaries/Private-Banker-Salary

3.    Mergersandinquisitions                                                                     https://mergersandinquisitions.com/private-banking-group/

Market Range Data that you are comfortable recommending

Three criteria you would use to place a person in your recommended range: 

1.     The academic qualification of an employee, a company's market position, and employee bonuses would influence placement in the minimum wage bracket. Low academic qualification would particularly imply that a candidate has just completed their college/university education and qualified for the position. Secondly, the market position that could influence placement in this wage bracket would imply low to medium profits; therefore, a company cannot make higher wages than it can sustain. Lastly, employee bonuses would range from low to medium meaning that the private banker has not marketed their company to many potential clients who would otherwise increase their monthly bonuses.

2.     Work experience would be the major determinant for a private banker to be in the midpoint payment bracket; that is, they have worked within the organization for two to five years. Additionally, the workers should have shown proficiency in skills, customer relations, and office ethics, working towards attaining the company's short-term and long-term goals. Also, the worker would have received bonuses for attracting more customers to the organization.

3.    The maximum wage bracket can be influenced by contracting benefits; that is, a company can contract a private banker who is not necessarily an employee. Additionally, high academic qualifications may include a master's level of education or higher education and supplementary certificates awarded to the private banker. Therefore, they fall in the senior private banker position. For private bankers who are not contracted, high experience within an organization could influence payment within this maximum wage bracket.