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Choice of Oocupation

The document discusses factors that influence an individual's choice of occupation such as wage factors like earnings, wage rates, overtime pay, and bonuses. It also discusses non-wage factors like job satisfaction, type of work, working conditions, and career prospects. Limiting factors to choice of occupation include qualifications, skills, experiences, and location.

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David Antwi
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43 views6 pages

Choice of Oocupation

The document discusses factors that influence an individual's choice of occupation such as wage factors like earnings, wage rates, overtime pay, and bonuses. It also discusses non-wage factors like job satisfaction, type of work, working conditions, and career prospects. Limiting factors to choice of occupation include qualifications, skills, experiences, and location.

Uploaded by

David Antwi
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd

CHOICE OF OOCUPATION

Factors That Influence An Individual’s Choice Of


Occupation

1. Wage factors
Earnings: The total pay a person(worker) receives

Wage rate: A payment which an employer contracts


to pay a worker
Factors that determine Wages

1. Number of hours(time rate system)

2. Amount of output(piece rate system)


Overtime pay: Overtime pay may be paid to workers who work
in excess of the standard working week. It is usually paid at a
higher rate.

Bonuses: A bonus is an extra payment. It can be paid to workers


who produce above a standard amount, finish a project ahead of
time, secure a profitable contract or contribute to a higher profit.

Commission: Commission is often paid to the sales people. It


involves them receiving a proportion of the value of the sales
they make.
2. Non-Wage factors
i. Job satisfaction
ii. Type of work
iii. Working conditions
iv. Working hours
v. Holidays
vi. Pensions
vii. Fringe benefits
viii. Job security
ix. Career prospects
x. Size of firm
xi. Location
Limiting factors to Choice of Occupation

1. Qualifications
2. Skills
3. Experiences
4. Location

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