Quote:
Originally Posted by burn_this_city
Fair market value is the value of a job in a particular place. The cost of living is a heck of a lot higher in Calgary than say, Barrons. So cops will expect a greater wage to live and work in Calgary than Barrons.
Joe assembly line worker in Kentucky is making the same wage as Jim assembly line worker in Flint. They both work at Fords and they both have the same seniority. The cost of living in both those places wont be the same. So in some regards the UAW has pushed certain locals above fairmarket value. Coupled with the fact no one truly deserves $150,000 a year benefits in, putting a valve covers on a V8 for 30 years straight.
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If you mean to say local market thats one thing, thats not the same as saying market in general.......
For example, you can have the calgary real estate market and then the real estate market in general.
You can have the oil industry market which is not confined to one specific place.
If youre under the same collective agreement you get paid the SAME if you do the same job and have the same seniority regardless of where you are, and therefore you may be getting paid more than market wage in some areas if you choose to live there and you may be getting just market wage in other areas, it does not adjust if youre union under the same agreement on where you are.