In today's job market (and also politics) one of the most important questions that many question is pay and what will be the final result of your pay stub. Samples of pay, income, salaries, rates (however you choose to address it personally) is a definite element that every single employee of any company (small or large) have the right to inquire about. As we all know to well, nothing in life is free and to obtain such necessities such as food, a home, clothes, and transportation, one must pay with money.
Similar companies are not obligated to pay the same rate for the same position as “the free market” allows for CEOs/business owners to offer what they want as long as it is not below the legal minimum wage. However, the way pay structure is typically setup can be applied from any job no matter where in the world you work.
It is important that businesses pay close attention to their budget and how much revenue they actually bring in (daily, weekly, monthly, and yearly). When it comes to accounting and operating expenses, on average, payroll is the most expensive expense to a business. Keeping this in mind, businesses make sure that when they offer start rates/salaries to each employee (or perspective employees) that they have enough money to actually sustain every expense they have accordingly.
Many job positions can have a general hourly or salary rate that each person in said position can earn. However, many companies also take into consideration the skills that a perspective employee has. For example, a young student straight out of culinary school more times than not will make less money than a line cook with 7 years of experience. The student will need to not only learn the basics of working at the easiest station in the kitchen, they also need to prove that they can cook for properly and eventually work multiple stations at any given moment.
One huge debate that has been looming society is women getting paid less than men for the same position. While there is no way to say why companies may try and get away with that unethical tactic, for the most part companies know that if discovered it will be a problem. Employees getting a different pay rate/salary based off of skills and experience is one thing, being paid less (or more) than someone just because of race, gender, or religion is unfair business ethics.
As a small business owner, you may also find value in proving your income. When that time comes, remember that Stub Samples is here to help!