Stockbroker internship south africa

Stockbroker internship south africa

Author: EKCTPEMICT Date: 27.06.2017

A salary is a form of periodic payment from an employer to an employee, which may be specified in an employment contract.

It is contrasted with piece wageswhere each job, hour or other unit is paid separately, rather than on a periodic basis. From the point of view of running a business, salary can also be viewed as the cost of acquiring and retaining human resources for running operations, and is then termed personnel expense or salary expense. In accounting, salaries are recorded in payroll accounts. Salary is a fixed amount of money or compensation paid to an employee by an employer in return for work performed.

Salary is commonly paid in fixed intervals, for example, monthly payments of one-twelfth of the annual salary. Salary is typically determined by comparing market pay rates for people performing similar work in similar industries in the same region.

Salary is also determined by leveling the pay rates and salary ranges established by an individual employer. Salary is also affected by the number of people available to perform the specific job in the employer's employment locale. While there is no first pay stub for the first work-for-pay exchange, the first salaried work would have required a society advanced enough to have a barter system which allowed for the even exchange of goods or services between tradesmen.

More significantly, it presupposes the existence of organized employers—perhaps a government or a religious body—that would facilitate work-for-hire exchanges on a regular enough basis to constitute salaried work. From this, most infer that the first salary would have been paid in a village or city during the Neolithic Revolutionsometime between 10, BCE and BCE. A cuneiform inscribed clay tablet dated about BCE provides a record of the daily beer rations for workers in Mesopotamia.

The beer is represented by an upright jar with a pointed base.

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The symbol for rations is a human head eating from a bowl. Round and semicircular impressions represent the measurements.

stockbroker internship south africa

By the time of the Hebrew Book of Ezra to BCEsalt from a person was synonymous with drawing sustenance, taking pay, or being in that person's service. At that time, salt production was strictly controlled by the monarchy or ruling elite. Depending on the translation of Ezra 4: The Latin word salarium linked employment and salt, but the exact link is not very clear. Modern sources maintain that the word salarium is derived from the word sal salt because at some point a soldier's salary may have been an allowance for the purchase of salt [4] or the price of having soldiers conquer salt supplies and guard the Salt Roads Via Salaria that led to Rome.

Regardless of the exact connection, the salarium paid to Roman soldiers has defined a form of work-for-hire ever since in the Western worldand gave rise to such expressions as "being worth one's salt". Within the Roman Empire or later medieval and pre-industrial Europe and its mercantile colonies, salaried employment appears to have been relatively rare and mostly limited to servants and higher status roles, especially in government service.

Such roles were largely remunerated by the provision of lodging, food, and livery clothes i. Many courtiers, such as valets de chambrein late medieval courts were paid annual amounts, sometimes supplemented by large if unpredictable extra payments.

At the other end of the social scale, those in many forms of employment either received no pay, as with slavery although many slaves were paid some money at leastserfdomand indentured servitudeor received only a fraction of what was produced, as with sharecropping.

Other common alternative models of work included self- or co-operative employment, as with masters in artisan guildswho often had salaried assistants, or corporate work and ownership, as with medieval universities and monasteries. Even many of the jobs initially created by the Commercial Revolution in the years from to and later during Industrialisation in the 18th and 19th centuries would not have been salaried, but, to the extent they were paid as employees, probably paid an hourly or daily wage or paid per unit produced also called piece work.

In corporations of this time, such as the several East India Companies, many managers would have been remunerated as owner- shareholders. Such a remuneration scheme is still common today in accountinginvestment, and law firm partnerships where the leading professionals are equity partners, and do not technically receive a salary, but rather make a periodic "draw" against their share of annual earnings.

From tothe Second Industrial Revolution gave rise to the modern business corporation powered by railroads, electricity and the telegraph and telephone. This era saw the widespread emergence of a class of salaried executives and administrators who served the new, large- scale enterprises being created. New managerial jobs lent themselves to salaried employment, in part because the effort and output of " office work" were hard to measure hourly or piecewise, and in part because they did not necessarily draw remuneration from share ownership.

As Japan rapidly industrialized in the 20th century, the idea of office work was novel enough that a new Japanese word salaryman was coined to describe those who performed it, as well as referencing their remuneration. In the 20th century, the rise of the service economy made salaried employment even more common in developed countrieswhere the relative share of industrial production jobs declined, and the share of executive, administrative, computer, marketing, and creative jobs—all of which tended to be salaried—increased.

Today, the concept of a salary continues to evolve as part of a system of the total compensation that employers offer to employees. Salary also now known as fixed pay is coming to be seen as part of a "total rewards" system which includes bonuses, incentive pay, commissions, benefits and perquisites or perksand various other tools which help employers link rewards to an employee's measured performance.

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Compensation has evolved considerably. Consider the change from the days of and before the industrial evolution, when a job was held for a lifetime, to the fact that, from toindividuals who aged from 18 to 44, held an average number of 11 jobs. In Botswanasalaries are almost entirely paid on a monthly basis with pay dates falling on different dates of the second half of the month.

Pay day usually ranges from the 15th of the month to the last day. The date of disbursement of the salary is usually determined by the company and in some cases in conjunction with the recognized Workers Union. The Botswana Employment Act Cap The minimum and maximum wage payment period with the exception of casual employees should not be less than one week or more than a month, and where not expressly stipulated a month is the default wage period per section 75 of the Act payable before the third working day after the wage period.

The wages are to be paid during working hours at the place of employment, or in any other way, such as through a bank account with the consent of the employee. Salaries should be made in legal tender, however, part payment in kind is not prohibited provided it is appropriate for the personal use and benefit of employee and his family, and the value attributable to such payment in kind is fair and reasonable.

The payment in kind should not exceed forty per cent of the total amount paid out to the employee. The minimum wage is set, adjusted and can even be abolished by the Minister on the advice of the Minimum Wages Advisory Board for specified trade categories. The stipulated categories include building, construction, hotel, catering, wholesale, watchmen, the domestic service sector, the agricultural sector etc. The current minimum wages set for these sectors are set out in the Subsidiary legislation in the Act.

By working for the Danish Government, it has been agreed under political agreements, that the salary is dependent on the seniority, education, and of a qualification allowance.

According to European law, the movement of capital, services and human resources is unlimited between member states. Salary determination, such as minimum wage, is still the prerogative of each member state. Other social benefits, associated with salaries are also determined on member-state level. In India, salaries are generally paid on the last working day of the month Government, Public sector departments, Multi-national organisations as well as majority of other private sector companies.

According to the Payment of Wages Act, if a company has less than 1, Employees, salary is paid by the 7th of every month. If a company has more than 1, Employees, salary is paid by the 10th of every month. Minimum wages in India are governed by the Minimum Wages Act, In Italythe Constitution guarantees a minimum wageas stated in Article 36, Paragraph 1 [16]. This constitutional guarantee is implemented not through a specific legislation, but rather through collective bargaining which sets minimum wage standards in a sector by sector basis.

Collective bargaining is protected by trade unionswhich have constitutional rights such stockbroker internship south africa legal personality. The Reminiscence of a stock market operator pdf also guarantees equal pay for womenas stated in Article 37, Paragraph 1 [16]. In Japan, owners would notify employees of salary increases through "jirei". The concept still exists and has been replaced with an electronic form, or E-mail in larger companies.

From school age these young potentials are groomed and pre-selected to one day join a company as a "salaryman". The selection process is rigorous and thereafter the process initiation speaks of total dedication to the company. Minimum wages are used widely in developing countries how long does it take to make money on neobux protect vulnerable workers, reduce wage inequality, and lift what is rsi in forex trading working poor out of poverty.

The political popularity of minimum wages stems in part from the fact that the policy offers a means for redistributing income without having to increase government spending or establish formal transfer mechanisms. South African median employee earning is R a month USD These figures are found in SA statistics. Indeed, they reflect the huge gap in the South African society with a large proportion of the population under poverty line that does not have the same opportunities for employment.

In the Netherlands the salary which occurs most frequently is referred to as Jan Modaal. The term "modaal" is derived from the statistical term Modus. If the government's macro economic policy negatively affects this "Modaal" income or salary-group often the policy is adjusted in order to protect this group of income earners.

The Netherlands is in the top 5 of the highest salary-paying countries in the EU. The focus has rakion hack tool 2016 - gold and cash maker + proof download on the salary levels and accompanying bonuses whereas secondary benefits, though present, has been downplayed yet that is changing.

The Netherlands claims a 36th position when it comes to secondary benefits when compared to other countries in Europe.

The minimum wage is determined through collective labor negotiations CAOs. The minimum wage is age dependent; the legal minimum wage for a year-old is lower than, for instance, a year-old full minimum wage. Adjustments to the minimum wage are made twice a year; on January 1 and on July 1.

The minimum wage for a year-old on January 1, is 1, In the United States, the distinction between periodic salaries which are normally paid regardless of hours worked and hourly wages meeting a minimum wage test and providing for overtime was first codified by the Fair Labor Standards Act of At that time, five categories were identified as being "exempt" from minimum wage and overtime protections, and therefore salariable.

Insome computer workers were added as a sixth category but effective August 23, the categories were revised and reduced back down to five executive, administrative, professional, computer, and outside sales employees.

Effective December 1, it says:. Specifically, the standard salary level will be updated to maintain a threshold equal to the 40th percentile of weekly earnings of full-time salaried fx rates usd to php in the lowest-wage Census Region.

Such payments may include, for example, nondiscretionary incentive bonuses tied to productivity and profitability. A general rule for comparing periodic salaries to hourly wages is based on a standard hour work week with 50 weeks per year minus two weeks for vacation. Zimbabwe operates on a two tier system being wages and salaries. Wages are managed by the National Employment Council NEC. Each sector has its own NEC; i. On the council are representatives from the unions and the employers.

The public sector is under the Public Barclays stockbrokers telephone number Commission and wages and salaries are negotiated there. Wages are negotiated annually or biennially for minimum wages, basic working conditions and remunerations. If there is a stalemate it goes for arbitration with the Ministry of labour.

The ruling will become binding on all companies in that industry. Industries often then use their associations to negotiate and air their views. For example, the mining industry nominates an employee within the chamber of mines to attend all meetings and subcommittee with industry players is a forum for discussions. Salaries are negotiated by the respective employees. However, NEC obviously affects the relativity and almost acts as a barometer for salaried staff. Salaries and wages in Zimbabwe are normally paid monthly.

Most companies' pay around the 20th does allow various statutory payments and processing for the month end. Government employees are also staggered to ease the cash monetary policy and stock market theory and empirical evidence though teachers are paid around mid-month being o que significa mercado forex. Agricultural workers are normally stock market lectures on the very last day of the month as they are contract employees.

Zimbabwe is a highly banked society with most salaries being banked. All government employees are paid through the bank. Since "dollarisation" movement from the Zimbabwean dollar to USD Zimbabwe has been moving toward a more informal sector and these are paid in 'brown envelopes'. This of course captures those that pay and keep records properly. This is skewed downwards by the large number of government forexchile webinar whose average salary is around there.

At the top end salaries are quite competitive and this is to be able to attract the right skills though the cost of living is high so it balances this out. A top-earning Zimbabwean spends a lot more money on necessities than say a South Learn to canoe lancashire top earner.

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This is more evident when a comparison with the United States or England is done. The need to have a generator, borehole or buy water or take care of the extended family since there is no welfare given the government's financial position. In the hyperinflation days salaries was the cheapest factor of production given that it was paid so irregularly transferring money from paypal to your bank account it went to twice monthly.

As workers could not withdraw their money, remuneration was often in the following forms:. Prices were price controlled. By remunerating in the product it basically allowed the employees to side sell for real value. Zimbabwe traditionally had a competitive advantage in its cost of labor. With "dollarisation" and higher cost of living this is slowly being eroded. Prior to the acceptance of an employment offer, the prospective employee usually has the opportunity to negotiate the terms of the offer.

This primarily focuses on salary, but extends to benefits, work arrangements, and other amenities as well. Negotiating salary can potentially lead the prospective employee to a higher salary. Negotiating salary will thus likely yield an overall positive outcome for both sides of the bargaining table.

Perhaps the most important aspect of salary negotiation is the level of preparation put in by the prospective employee. Background research on comparable salaries will help the prospective employee understand the appropriate range for that position.

Assessment of alternative offers that the prospective employee has already received can help in the negotiation process. Research on the actual company itself will help identify where concessions can be made by the company and what may potentially be considered off-limits.

These items, and more, can be organized into a negotiations planning document that can be used in the evaluation of the offers received from the employer. The same study highlighted the personality differences and negotiation mind-sets that contributed to successful outcomes. Overall, individuals who are risk-averse e. On the contrary, those who were more risk-tolerant engaged in negotiations more frequently and demonstrated superior outcomes.

Individuals who approached the negotiation as a distributive problem i. Those who approached the negotiation as an integrative problem i. Salary disparities between men and women may partially be explained by differences in negotiation tactics used by men and women. Men and women tend to view salary differently in terms of relative importance. Overall level of confidence in a negotiation may also be a determinant of why men tend to achieve higher outcomes in salary negotiations.

The Constitution of the Republic of South Africa provides for the right to fair labour practices in terms of article This is not only relevant to women, but also to men. The smallest income gap differences occur at thin weights where men are penalized and women are rewarded and the opposite happens at heavier weights, where the women are affected more negatively.

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Income in the United States. Retrieved 5 March Modern Myths about the Ancient World. Retrieved 11 January The Wealth of India: A Dictionary of Indian Raw Materials and Industrial Products. Retrieved 13 June Employee Benefits, HR Consulting, Risk Management Insurance". The official website of the Presidency of the Italian Republic. The new economics of the minimum wage.

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New Approaches to Poverty Analysis II: Reducing poverty through labor market policies. International Institute for Labor Studies, International Labor Organization, Geneva. Journal of Organizational Behavior. The role of goals, self-efficacy, and perceived control. Journal of Applied Psychology. Casual Contingent Full-time Part-time Self-employed Skilled Independent contractor Temporary Tenure Unskilled Wage labour. Co-op Employee Employer Internship Job Permanent Permatemp Supervisor Volunteer.

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