Question 243867: I am suppose to find out if this equations S= -0.0643t^2 + 3.2152t + 23.9801 is a good equation to base off a companies salary.
I figured it wasn't because it happens to be a parabole that goes down after 25 years of experience. I thought of tbe possibility of people staying at a job for 25 years is highly unlikely but possible... so I figured 18yrs + 25yrs = 43 years of age.
So I figured lowering a employees salary at the age of 44 and on was unethical.
Plus the pay rate increase beforehand was just way to fast and high...
What would you suggest would be a good solution for this company to pay salaries in a equation. It doesn't have to be a quadratic equation but I must be able to graph it.
Found 2 solutions by solver91311, Theo:
Answer by solver91311(24713)   (Show Source):
You can put this solution on YOUR website!
In general, I agree with your analysis. Actually, lowering people's salary based solely on their age is more than unethical, it is illegal.
My personal experience has been that I've seen about a 5% increase per year since 1988 -- but that is not necessarily typical.
If you had to write a formula for a company, you would first have to define job categories and pick a base starting salary for each, call that  . Then you would have to select a percentage rate,  , of increase for each one. Then for job class number 1 current salary,  , you could write:
^t)
Where  is the number of years of employment.
So if the starting salary were say $50K and the rate of increase were 4%, then a graph of:
\ = 50000(1\ +\ .04)^t)
Would look like the red line and
\ = 40000(1\ +\ .05)^t)
Would look like the green line
John
Answer by Theo(13342)  (Show Source):
You can put this solution on YOUR website! graph of this equation look like this:
This is not a normal salary curve if it is based on years of service only.
Most salary curves go up to a certain level and then stay there, or go up very slowly after they reach that level.
The only way this type of curve would make sense is if performance were tied to age in a negative way such that older people are simply incapable of producing as much as younger people.
Because of reduced performance, they would be paid less.
This equation presupposes that, however.
If units produced were the criteria, then paying on units produced would be a better system. This would allow more productive employees to make more money regardless of their age.
If this formula forces salaries to be a certain way depending on years of age and nothing else, then it's a very poor formula to start with.
You would have to know a lot more about the company practices and philosophies before saying this curve was no good, but without knowing any of that, and looking at what the normal salary curves for most corporations look like, I would have to say this is not a good one, and shouldn't be used unless there was a special reason to do so.
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