Did You Know

History of compensation... Tipping can be traced back to the taverns of 17th century England where patrons would slip money to waiters "To Insure Promptitude" or T.I.P. for short. When upper-class Americans started traveling to Europe after the Civil War, [...] Read More...

History of compensation... The most notable difference between European soccer leagues and United States professional sports associations (with the exception of Major League Baseball) is the existence of salary caps in America. These restrict the amount of money that a [...] Read More...

History of compensation... As the new millennium approached, professional athlete salaries exploded to unprecedented levels as multi-million dollar paychecks became the norm. But endorsements proved to be the most lucrative, as royalties earned players far more than their actual paychecks. [...] Read More...

History of compensation... As the new millennium approached, professional athlete salaries exploded to unprecedented levels as multi-million dollar paychecks became the norm. But endorsements proved to be the most lucrative, as royalties earned players far more than their actual paychecks. [...] Read More...

History of compensation... In 1964, bowling legend Don Carter did something that no one in baseball, football or golf ever did: He became the first athlete in American sports history to sign a $1 million marketing endorsement contract, with bowling [...] Read More...

History of compensation... The introduction of television in the 1950’s, along with lucrative broadcasting deals had begun to change the status of professional athletes and therefore, increase salaries. Audience inflation suddenly went from thousands inside a stadium to millions via [...] Read More...

History of compensation... In the early 20th century, baseball players in North America were bound to their teams due to a reserve clause. This allowed team owners to retain players as long as they desired – even after the contract [...] Read More...

History of compensation... Major League Baseball rose to prominence as "America's favorite pastime" during the 1920s due to the influence of legendary slugger Babe Ruth, whose home run hitting packed stadiums. At the height of his career, Babe Ruth was [...] Read More...

History of compensation... According to a Forbes 2016 report, the top 100 paid athletes in professional sports will earn a cumulative $3.15 billion, 29% of which comes from endorsements and appearances. But in the early days it was common for only [...] Read More...

History of compensation... When Albert Einstein left Europe in 1932 to work at the Institute for Advanced Studies in Princeton, he was asked to name his own salary. After a few days of contemplation, Einstein suggested a meager salary of [...] Read More...

Labor Day, celebrated on the first Monday in September, is a United States public holiday honoring the American labor movement. Dedicated to the social and economic achievements of American workers, it is considered the "unofficial end of summer" and the start of the [...] Read More...

History of compensation... In the days of the industrial revolution, jobs were held by most workers for a lifetime. Up until the early 1960s it was not unusual for people entering the job market to remain with one employer for [...] Read More...

History of compensation... Credited as the most influential person in the human resources profession, Edward N. Hay laid the foundation for 20th-century compensation management and pioneered many of today's people management practices. Hay acknowledged the need for a consistent salary-administration [...] Read More...

History of compensation... The current structure of the federal pay system began as the Classification Act of 1923. This was the first attempt by the government to develop a formal compensation plan, ensuring the same pay scale was applied to [...] Read More...

History of compensation... Once the value of "time" became a widely accepted increment of payment for legal and accounting firms, other industries started to notice. Service-based businesses began charging by the hour and outperformed those that charged on the basis of [...] Read More...