Catatonic
Nine Lives
You left out the key component,
competency.
All jobs,
-(from a garbage collector to CEO of a Fortune 500 company)-
share complexity, stress and responsibility, just in different forms.
IMHO,
Compensation should be based on how competent one does a job, not based on what his peer group makes in the job market.
My opinion applies to both hourly and salaried.
For a person in that management job - totally agree. Competency should be the determining factor for an individual's pay within a job band.
In determining a job band, competency is not a relevant factor. Competency is the measure of an individual.