Why do workers in one industry might be paid more workers in another industry?

Question

Why do workers in one industry might be paid more workers in another industry?

Answer 1

There are many factors that determine a worker's wages.

One is level of education needed to perform a job. In the U.S., a Medical Dr. will typically have more than 6 to 8 years to complete training in a specialty, and the more education and training required is one good way to assess the earning potential of an individual career.

Another is the amount of people available and capable to perform a job. Men who "Walk Iron" in  construction, that work on skyscrapers and bridges, high in the air, many times without protection due to the nature of the work, are paid highly. Many try this work, but are unable to function in the conditions, so the available work force is limited, and paid well to attract qualified workers.

Another is natural ability. Singers, writers, and artists are in this catagory. They are a segment of the population that depends on their own special talents to produce products based on their own minds and abilities. They may be trained, but the quality that makes them money is inherent to their minds.

Often, wages are based on more than one of these factors. A person's worth in their profession is also determined by experience and competence.

In a nut shell, the jobs with the fewest people able to do the work pay the most, the jobs the most people can do with the least training or education pay the least.

Answer 2

It's based on supply and demand. Workers in industries where there is a lot of work available and few people to do it get paid more than workers in industries where the amount of work is small, and a lot of people want to do it.