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Spring 2013
Master of Business
Administration- MBA Semester 4
MU0015 – Compensation
Benefits - 4 Credits
(Book ID: B1336)
Assignment (60 Marks)
Note: Each question carries 10 marks. Answer all the questions.
Q1. Discuss the elements of compensation package. (10 marks)
Answer : Both as a recruiter and as a career coach, I
have heard women downplay the importance of compensation. Even if you don’t believe this Scottish
Proverb, it should be your life mantra. Paying attention to money matters is
important.
For most people, your
compensation and your ability to earn it and increase it over time are your
biggest assets. Do you understand all of the
Q2. List and explain various economic theories of wages. (10 marks)
Answer : wage theory, portion of economic theory that attempts to explain
the determination of the payment of labour.
A brief treatment of wage theory follows.
The subsistence theory of wages, advanced by David Ricardo and
other classical economists, was based on the population theory of Thomas
Malthus. It held that the market price of labour would always tend toward the
minimum
Q3. What is pay structure? Explain why it is necessary to develop a
proper pay structure. Explain the method to develop pay structure. (2+ 4+ 4
marks)
Answer : Pay Structure: A structure of job grades and pay ranges established
within an organization. May be expressed as job grades or job evaluation
points.
why it is necessary to develop a proper pay structure
An organization needs talented
and skilled individuals to build a successful business. Because these talented
people are highly
Q4. Explain the components of wages. (10 marks)
Answer : Annual Wage Supplement
The Annual Wage Supplement (AWS)
is commonly known as the 13th month payment. It is a single annual payment to
employees that supplements the total amount of annual wage earned by them.
Payment of AWS depends on the contractual
agreement between the employer and the employee i.e. whether it is provided for
in the employment contract or collective agreement.
Q5. Describe Cost-to-Company and its components. (10 marks)
Answer : Your company offered you
a salary of Rs. 6 Lakhs per year. That means you should be getting Rs. 50,000
in hand every month. Even if you consider income tax, you should be getting
about Rs. 40,000 in hand.
But you get only Rs. 32,000
in-hand every month! Why? Where did the promised money vanish? Is your company
cheating you?
Q6. What is Executive Compensation? Mention the different components of
executive
compensation. (10 marks)
Answer : Components of Executive Compensation
The components of the compensation
program for executive officers are described below. Generally, compensation is
substantially weighted towards equity compensation, and in particular towards
performance based
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