W2 DQ4 (Due Saturday)

WEEK 2, DISCUSSION QUESTION 4 Go to http://stats.bls.gov/, click on the Subject Area tab, and go to the "Pay & Benefits" section, then click on "Wages by Area and Occupation", then click on ""For over 800 occupations". Then; 1. Find and report the "mean annual income" for all occupations in the U.S. (NOTE: not each occupation individually but TOTAL (ie: 1 number near the top of the data)). The annual mean wage is $45,790. Now go back to the main Pay & Benefits link and: 2. Find and report the "mean annual income" for all occupations in your state. (NOTE: not each occupation individually but TOTAL (ie: 1 number near the top of the data)). For Kentucky the mean annual income for all occupations is $38.940. 3. Find and report the "mean annual income" for your specific occupation (or the one you hope to get after graduation). Compare the income for that occupation to those reported in #1 and #2. Is it different? If so, why do you think that occupation has a higher (or lower) income than the "all occupations" numbers?
For the specific occupation I want after graduation, Human Resources Management, the annual mean income is $109,590, but if I look at the specific type which is Compensation and Benefits Managers the annual mean is $105, 920. Both of these are higher than #1 and #2 because it is based on that particular job skill. Questions 1 and 2 are based on all occupations and then the mean is found, which the usual average for all the occupations combined. To find that total you add all the annual income of each occupation and then divided by how many occupations there are and that will give you the mean total of them all.