Module 6 Compensation Project

This is a three-part assignment.

First, using Salary.com (Links to an external site.), research the Total Compensation (Wages/Salary + Benefits) for a position you would like to hold in 2 years, 5 years, and 10 years in the same job family. Build a table with the titles and the three years' information with the 25%ile, the 50%ile, and the 75%ile.

Second, perform a Cost of Living Analysis using Salary.com's Cost of Living Calculator (Links to an external site.). Use a base salary of $75,000 and use Columbus, Ohio as your Home and Work location. Find 3 locations which provide a Positive Change in Net Disposable Income and 3 locations which provide a Negative Change in Net Disposable Income. You can put this into a table in Word.

Third, use the Future Value of an Annuity calculator (Links to an external site.) to calculate the future value of your positive net disposable income figures for 20, 30, and 40 years. Use an 8% rate of return for your calculations. Also, remember that a negative figure works the same way...unless you figure out a way to make things work, you dig the whole deeper! Put this into a table in Word.

What did you learn by doing these assignments about how to price a job and find out the impact of cost of living and regional markets on a job's worth?