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The comparison of the Wage rates between Banking and Nursing

The comparison of the Wage rates between Banking and Nursing

Introduction

In the United Kingdom, it is very well revealed that the income distribution has increased from an appreciable rate in the past decades. In the UK, it contributes the understanding of the rising factor of income and wage inequality at the top level of the distribution. There should be equally treated to all the profession each profession has a different nature (Bell, & Reenen, pp. 1-2).

Discussion

Nursing Profession

The nursing is considered to be the lowest paid profession in these days. However, many hospitals are targeting the healthcare salaries in order to protect their bottom line. The increasing pay scales, as well as the pay of administrative specialists in the England, have recently experienced what was called the 'Agenda for Change'. This was an administration induced methodology of re-assessing all posts, aside from the doctors. There were certain unsuccessful people and some winners as well but, overall, the nursing profession turned out well. It is assumed that each of the things was analyzed in the business sector, which additionally incorporates the health awareness.

They are anticipated to work long hours having stress and work pressure, still the basic salary for a newly-qualified nurse is less than most of the other professions (BBC News, 1998). Lastly, the increasing need for the health awareness might give the possibility that nurses were paid more than their creative imaginations. A nursing is sacred profession, which does not offer a replicable service. It provides a personal service that cannot be duplicated. It is close to the human nature and better provides services to the society, and it is selfless.

It is being noticed that due to the rapidly decline in the wage rate of nursing, the nurses are de-motivated to work and for providing their services to the people. Even the quality of their service is declining at a rapid rate. It clearly shows that the nursing profession needs some motivations, and it is needed to raise their wage rates for improving the quality of the services form nursing profession (Miles, J. pp. 1-3).

Banking Profession

The bankers contribute their performances for the economic development. The compensations of the bankers which they get are quite high figures due to some reasons but the other professions e.g. nursing is also vital profession as banking to the economy and society. The fact is that, the society is unable to progress without them due to reason that the diseases decrease our efficiency to work, which consequently declines the economic growth and output. Despite all the facts, the nursing profession is paid fare less (http://www.significancemagazine.org).

Significance of Banking Sector

The banking sector of any country is considered to be the most significant sector. The effects of the banking profession on an economy are vital. They circulate the savings of the consumers', which is inactive, and are helpful in providing the finances for the development works and activities. Therefore, banking sector cover all aspects of people and work and ultimately ...