Changes in Individual Earnings Over Their Lifetime
Question
Analyse how an individual’s earnings are likely to change over her or his lifetime.
Category:
Wages
Frequently asked question
Preview Answer
I. 🍃Introduction
- Explanation of the different stages of earnings throughout an individual's life
- Mention of gender discrimination and its impact on earnings
II. Early Career
- Low earnings due to lack of training, experience, qualifications, and skills
- Unlikely to have been promoted
III. Early Middle-Age
- Higher earnings due to increased productivity from higher skills and experience
- Adding value for employer
- May have been promoted
- Higher expenses due to purchasing a house or supporting children
IV. Late-Age Before Retirement
- Earnings may be high due to experience
- Earnings may be low due to working part-time and being less productive
- Being more tired and less physically fit
V. Retirement
- Relying on pension or family for financial support
VI. Gender Discrimination
- Explanation of how gender discrimination impacts earnings
- Mention of how it may fall, increasing a woman's earnings
VII. 👉Conclusion
- Recap of the different stages of earnings throughout an individual's life
- Importance of addressing gender discrimination to ensure fair earnings for all.
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