Re: Tanker drivers

On 18 Jun, 17:54, Adrian <toomany2...@xxxxxxxxx> wrote:
BrianW <brianwhiteh...@xxxxxxxxxxx> gurgled happily, sounding much like
they were saying:

The skills involved in doing a job are only a part of the justification
for a given pay rate. Just because a brain surgeon goes through a
longer and more intensive training than a dustman doesn't mean that a
dustman isn't worth the same amount of money based on his contribution
to the welfare of society as a whole.-
In practice, the skills and qualifications required can bear a very dim
relationship to pay scales.

It's all about the basic economic laws of supply and demand.

Well I never!

As a lawyer, I earn considerably more than
I earned as a scientific researcher, despite the fact that my training
as a scientist took longer and was probably harder.

Indeed - but the demand for your services as a lawyer is high from people
who feel it is a good financial investment. Elasticity of supply means
that the market sets the level of pricing.

Likewise amongst scientific researchers. Those who have the demand are
not willing or in a position to pay high amounts, and the supply, even at
low pay rates, is sufficient to meet the demand.

The odd thing (but see my comments below) is that the old supply and
demand thing doesn't really (in my opinion) explain the pay
differentials in the two sectors I mentioned. The supply of
candidates for training positions in law firms is massive - my firm
gets about 100 applicants per place, all from suitably qualified
people. The supply of candidates for scientific posts is much smaller
IME. Similarly, there are loads of law firms all offering similar
services at any particular level, yet charge-out rates (on which
salaries ultimately depend) keep on rising. I would have expected
that market forces would in the circumstances level off lawyers' pay,
and increase scientists' pay, but it ain't so.

Should it be otherwise?

No. I wasn't arguing that it is unfair or anything. I was simply
pointing out that many people make the fallacious argument (which we
have seen over the tanker driver dispute) that pay and skill levels
are directly correlated.

I long ago gave up pondering the logic, fairness or otherwise of pay
levels in different sectors, and chose to vote with my feet, jumping
from one of the most poorly paid professions to one of the best paid.
I can recommend it to anyone ...
.

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