Why some of your colleagues and boss are paid more than you

Traditional salary models rely on the so-called 'tournament theory,' but new research suggests that it may be unfair and lead to unhealthy competition.

PAY GAME. A longstanding theory suggests that the amount of pay one gets should depend on one's relative position rather than output. Photo from Shutterstock

The idea has been around since the late 1970’s when economists Edward Lazear and Sherwin Rosen suggested that workplace compensation should be based on an individual’s relative position in a company, rather than who is being good at their job. “Experts have also suggested that traditional tournament theory, aimed purely at monetary incentives may work well in the abstract, but has a number of weaknesses for running a company employee reward scheme in modern workplaces,” ING said.

Team-based tournaments increase collaboration and help co-workers to be successful alongside an individual’s own success.

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