May 2009

What "industry" are you talking about? Conventional wisdom is often wrong

Pay varies by industry, so every pay survey worth its price is an industry-specific survey; but many people today don’t even know what their industries are. Industry categories exist to classify the various types of enterprises that make goods or provide services. The problem is, the kinds of categories used by bureaucrats, economists, data collectors and information classifiers are not the kind of industry categories used by the typical person on the street.

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