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Posted by  in Compensation

Last Friday, the BLS (Bureau of Labor Statistics) http://www.bls.gov/ released its most recent survey results showing 2007 Occupational Pay Comparisons Among Metropolitan Areas

Of course, the Darton Group team immediately leaped into the data specific to Charlotte and the finance profession.  So what did we learn?

Let’s begin by defining the term “pay relatives“. 

Pay relatives are a means to assess pay differences.  As defined by the BLS, “a pay relative is a calculation of pay–wages, salaries, commissions, and production bonuses–for a given metropolitan area relative to the nation as a whole”.

The survey uses a base line of 100…meaning average pay nationally for all occupations and for each occupational group featured in the survey = 100.

Of 77 metro areas surveyed, the Charlotte metro area scored “102” for “All Occupations” and another “102” for the “Management, Business & Financial” occupational group.  This means that occupational pay in the Charlotte metro area was 2% above the national average for the “Management, Business & Financial” occupational group for all occupational groups combined.  

The pay relative in Charlotte for the occupational group defined as “Professional & Related” was “92” meaning that Charlotte workers in this sector earned an average of 92 cents for every dollar earned by workers nationwide.

Learn more at http://www.bls.gov/news.release/ncspay.htm.

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