Wage Earnings in Australia Research Paper Example | Topics and Well Written Essays - 750 words

Wage Earnings in Australia - Research Paper Example This method has made it fairer for both the employee and employer while looking for jobs and at the same time while seeking for employees with good qualifications. Australian dollar is the currency used in payment of wages. A released data analysis indicates that mining, resource and energy jobs are the most highly paid ranging averagely $155, 042, - $121,913 per hour (Survey, 2012). Engineering jobs follow secondly while construction and consulting and strategy jobs are third and fourth respectively. Amongst the least paid jobs, include the administration and office support jobs, which earn averagely $56,820-$46,278. Minimum Wages Australia has a panel for fair work Ombudsman, which came into existence in 3rd June 2010. The work of the panel is to review the minimum wage an employee should earn. The panel reviews the wages every year and makes their announcement every 1st July annually. The panel also makes their findings public on the same day by publishing them on the government w ebsites and other potential site to bring employers to task with the current rates. The fair work panel also releases a minimum wage order that requires an employee not to earn any lower than the national minimum wage. Currently, the national minimum age is $15.96 per hour (Survey O. S., 2012). If an employee is a casual laborer, he or she is entitled to 23% casual lading wage. Fair work also takes part in monitoring and evaluating employers who contravene or go against the Law. Chris Evans the senator and minister of immigration and citizenship announced that temporary skilled workers in overseas should get payment similar to those paid to market rates. People under 21 years are referred to as junior workers and their rates re usually less than adults. However, different industries and occupations have different wages depending on the types of jobs done. Classification is under casual, permanent or sub contract basis. Subcontractors are not permanent employees and therefore the law of minimum wages does not apply in their case. Subcontractors have their own jobs and work at different hours and they earn commissions depending on how they negotiate with the contractors. The law is very tough on subcontractors and their employers. Under certain circumstances, an employer might subcontract an employee and pay him/her as an employee yet he/she is working as an employee of the organization or company. The trade unions describe how penalties, rewards, and allowances are earned. Most payments are done monthly in Australia but weekly wages still apply depending on the agreement with the employer. Australian law demands that employers provide their employees with pay slips before payment is done for verification. Superannuation is a retirement benefit scheme that any wage earner should pay. Nine percent of the total wage earned is always deducted for the payment of the retirement scheme. The money aims at retirement but can also be used in cases of injuries and illness . All the States in Australia have the command and rule over the salary of their educators. Data from the latest information indicate that all salaries from the Australian capital have a nine-point range. By 2003, South Wales had the highest paid teachers in Australia. The starting salary for trained bachelor of education teacher

Indian Stock Exchanges Research Paper Example | Topics and Well Written Essays - 2250 words

Indian Stock Exchanges - Research Paper Example The researcher states that the Bombay Stock Exchange is â€Å"the oldest stock exchange in Asia† and one of the older ones in the world, having been in operation for 135 years. In 1875, it was known as the Native Share and Stock Brokers Association, and is sometimes known as the Stock Exchange Mumbai. It is astonishingly large: It has the most companies traded and is one of the top ten stock exchanges in the world with a total capitalization of $1.28 trillion. Its electronic trading handles the fifth largest number of trades in the world. It is the second stock exchange in the world to obtain ISO 9001:2000 certification and the second in the world to receive the â€Å"Information Security Management System Standard BS 7799-2-2002 certification for its BSE On-Line Trading System†. The BSE Index, SENSEX, is traded in Hong Kong. The BSE is a hybrid between an order-driven and market maker, quote-driven system. Historically, it used quote-driven systems, but anonymous scree n-based trading systems and the trading of debt and other loan-based assets is done using an order-driven system. However, quote-driven mechanisms still guide trading in many illiquid stocks. Trading occurs between 9:00 AM and 3:30 PM under most circumstances. This is about as long as the NYSE, which trades from 9:30 AM to 4:00 PM normally. The securities and stocks exchanged on the BSE are classified into a few different types of groups. â€Å"BSE has, for the guidance and benefit of the investors, classified the scrips in the Equity Segment into 'A', ‘B’,'T', ‘S', ‘TS' and 'Z' groups on certain qualitative and quantitative parameters†. These groups are classified based on the type of asset being traded, the way the asset is traded and an estimation of quality. F Group trading, for example, is of fixed income securities, while T Group trading are scrips traded per trade which is used for surveillance. S Groups are Indonext segment stocks, which means that TS Group stocks are Indonext stocks traded under trade-to-trade surveillance. Government securities are traded in the G Group. Z Group trades are companies that have failed to comply with listed requirements â€Å"and/or have failed to resolve investor complaints and/or have not made the required arrangements with both the depositories, viz., Central Depository Services (I) Ltd. (CDSL) and National Securities Depository Ltd. (NSDL) for dematerialization of their securities†. The BSE Sensex is calculated using a Free-float Market Capitalization Model. It is thirty blue-chip stocks, similar to the Dow Jones, which account for one-fifth of the capitalization of the exchange and are safe stocks with a proven track record. â€Å"The market capitalization is determined by multiplying the stock by the numbers of outstanding shares. This calculation is performed for all 30 stocks and then divided by the Sensex Divisor. The Divisor is derived from the original base value of 100 for the Sensex, so the index can be tracked over time. The Sensex is calculated every 15 seconds and then published to investors around the world in real-time† (. One study of the BSE found that a contrarian strategy, a strategy that tries to defy traditional wisdom such as Soros' famous pound-sterling coup.