Answered: Some graduating students view starting…

Principles Of Marketing

17th Edition

ISBN:9780134492513

Author:Kotler, Philip, Armstrong, Gary (gary M.)

Publisher:Kotler, Philip, Armstrong, Gary (gary M.)

Chapter1: Marketing: Creating Customer Value And Engagement

Section: Chapter Questions

Problem 1.1DQ

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Question

Some graduating students view starting salary as more important than benefits when selecting their initial employer? Others view benefits as more important. What factors do you think impact these alternate views?

Expert Solution

Step 1

As mentioned in the question, most of the freshers usually from graduating students find themselves more tempted towards the salary rather than the benefits while getting hired for their first placement or company or the employers and the rest of the experienced workers find it otherwise, due to the following factors:

Due to the inexperience in the work environment and ecosystem, most of the newly recruited freshers (The Graduates who've recently got this job) are mostly unaware of how things actually work, the management, the hierarchy perks and cons, the job role and responsibilities, the tenures and deadlines.
The salary packages are more prioritized due to the social stereotype and the mindset that has nurtured since their childhood (Middle-class and below families) due to their upbringing with the basic necessity and want being the money, the very sight or thought or offer of more money automatically triggers and then influence them to behaviorally choose the option with more salary.
Usually there is this popular belief and a motive that the early years that is the age-group between 20-30 is the tenure when a person can be doubling up his/her income to their maximum potentially to finally stagnate by the age they retire, usually a decade after their 30s, in some cases it may extend to more years, however the momentum will always be observed high on 90% of the youth population to have an objective of racing up economically in their early twenty's, in simpler words, they desire to be rich in that age, which happens to be the same age they'd graduate their courses.