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After budgeting for the things that he has to pay for,such as his mortgage,car payments,insurance,food,and so forth,Bob Smith figures that his family has $1,000 left each month to use for whatever they want.This $1,000 represents the Smith's ________ income.
Job-Based Pay
A compensation strategy where employee pay is determined by the specific job roles and responsibilities rather than the individual's performance or skill level.
Capabilities
The qualities, skills, and capacities that enable individuals or organizations to effectively perform or achieve tasks and objectives.
Geographic-Based Pay
A compensation strategy that adjusts an employee's pay based on the cost of living and market wage rates in the geographic location where they work.
Market Pricing
The process of determining the external value of jobs within an organization by comparing the organization's jobs to similar jobs in the external labor market.
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