One of my favorite fiction series of books broke it down as follows. You get paid for danger, skill, and annoyance. In this case annoyances are everything that makes the job undesirable.
Service industry has limited personal danger, relatively accessible skills, and limited annoyances.
Meanwhile deep sea fisherman has extremely high personal danger, again relatively accessible skill set, but it also has moderately high annoyances.
Because of this, the fisherman should be paid more than the chef.
I’m not entirely certain this actually works out in real life. CEO may have a high skill set, but personal danger and annoyances are both relatively low…
One of my favorite fiction series of books broke it down as follows. You get paid for danger, skill, and annoyance. In this case annoyances are everything that makes the job undesirable.
Service industry has limited personal danger, relatively accessible skills, and limited annoyances.
Meanwhile deep sea fisherman has extremely high personal danger, again relatively accessible skill set, but it also has moderately high annoyances.
Because of this, the fisherman should be paid more than the chef.
I’m not entirely certain this actually works out in real life. CEO may have a high skill set, but personal danger and annoyances are both relatively low…