After job evaluation and job pricing, prevailing wages, cost of living, bargaining power, productivity, ability to pay, equity are some of the factors which employers mostly consider while determining the pay. In
your opinion, which are the most important factors to be considered while determining the pay for the
following jobs and why? (Identify and explain a minimum of two factors for each job)
Scenario 1: (Marks 5) Word limit 100 words
Job Title: Chief Information Officer
A commercial bank requires the services of a chief information officer. He/She will be responsible
for ensuring the security and governance of information assets at the bank. Responsibilities
include availability, integrity and confidentiality of data in addition to preserving customer
privacy.
Scenario 2: (Marks 5) Word limit 100 words
Job Title: Anesthesiologist
The Anesthesiologist is required in a well-reputed private hospital He/She will be responsible for
pain management during pre and post medical procedures and related activities. Job schedule is
expected to be highly irregular as per the need.
You are required to identify the most significant factors which their respective employers
should consider while determining the pay. Explain those pivotal factors with logical
arguments in the context of each job.