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(Mt) – Management University Graduate Salaries Essay

Research Skills Demonstration Option Secondary Data Study Secondary Data is often a source of information for business researchers. We ll begin this experiential component of the course by having you actually conduct some research. As an INDIVIDUAL (everyone s assignment should be different), answer the following questions and complete the study. Your response should be typed as a formal document in APA format. You are free to use a Word format (*.doc) or a pdf document in your submission. Your assignment will be marked out of 100 points and will be graded based on: Format (spelling, grammar, APA, page numbers) no title page is required Clarification of what you are investigating including assumptions and operationalization Quality of the sources you identify Assessment and Evaluation of your sources complete with applicability Justification of your answer and identification of an actual answer to the question Good luck! I m looking forward to seeing what you discover. Assignment: Choose ONE topic of either A or B in completing this skills demonstration. A) University graduate salaries Identify and discuss the strengths and challenges associated with secondary data Find and list six sources of secondary data that identify with earnings and wages of Alberta University graduates Identify the three most credible sources you have found, including justifications for why these are your choices Identify and justify your identification of the average salary of a university graduate in Alberta, including any calculations that you have made. B) Returns on Personal Investment Portfolios Identify and discuss the strengths and challenges associated with secondary data Find and list six sources of secondary data that deal with personal investment portfolios Identify the three most credible sources you have found, including justifications for why these are your choices Identify and justify your identification of the mean return realized on a personal investment portfolio in Canada, including any calculations where required This assignment will typically be 4-5 pages long if you do a thorough job. This is just a sample for assignment so that you can just see the example of assignment Please don t copy anything from this assignment. Plagrism will not be tolerated. Please Don t try to Paraphrase any line. Please Don t use same pattern .Dont use same Headings Create your own work I got this file from professor, so they know everything what have been written in assignment. Please be careful and write your own work and read this assignment for reference Purpose Only. Secondary Data Research Secondary data is data that have been previously collected for some purpose other than the one at hand (Zikmund, Babin, Carr, & Griffin, 2010, 2013). When conducting business research, one can optimize resources by using data that is already assembled and easily available, often at little or no cost, and without having to design and conduct a study or interact with subjects. This is especially true of digitally-stored data, like government census results. In some cases, it is not even feasible to undertake primary data collection due to the scope or sensitivity of the information sought, making secondary data research the best option. Though relatively easy-to-access and inexpensive, the use of secondary data poses not insignificant challenges for the researcher. Because secondary data is not collected specifically in reference to a given study, it often does not satisfy the needs of the study for four main reasons: (i) variation in terms; (ii) variation in measurement units; (iii) inability to verify data; and (iv) age of data. In order to mitigate these challenges, researchers may need to undertake data conversion/data transformation, whereby the data is processed into a format more suitable for application in the research study. They also need to cross-check the data, comparing it to other sources in order to assess its reliability. Zikmund, Babin, Carr & Griffin provide a visual tool aid in this process, referenced to the left. Purpose of Study and Assumptions This secondary research study is being undertaken to determine the average salary of a University graduate in Alberta. For the purpose of this study, a University graduate in Alberta is considered to be an employable individual residing in Alberta, of any age and with any number of years experience, holding a minimum of a bachelor s degree issued by any postsecondary institution. Where it is used, average shall refer to the mean. Identified Sources of Secondary Data During the research phase of this study, six sources of secondary data that identify earnings and wages of University graduates in Alberta were identified: 1.Stats Canada 2.Indeed.ca 3.Alis (alis.alberta.ca) 4.The Conference Board of Canada 5.SalaryExplorer.com 6.Payscale.com Applied Sources of Secondary Data The Canadian government funds the Census Program every five years, with the last statistical snapshot of the country having been completed in 2016 and published through Stats Canada. This data was chosen as the first and primary credible source, as it is deemed to be the most comprehensive (given the scope and access to its subjects), objective (publicly funded for general purposes with no explicit agenda) and reliable (government run and fact-checked). Stats Canada publishes the data on its public website, and it can be downloaded in .csv format to be analysed in various ways. For purposes of this study, data was filtered to include only a university certificate or degree at a bachelor level or above, and to provide data and the Alberta provincial level as well as at the Canada wide level to provide a basis for certain operationalization calculations. Secondary data from Indeed.com was chosen as the second credible source. Indeed is a worldwide job data base, funded by employers advertising jobs on their site. The data being used was collected in 2016, the same year as the census. Indeed looked at the most common degree majors in Canada, then cross-referenced the millions of resumes in their database to find the most common job titles for people with a bachelor s degree in each of those majors, then pulled the salary data being advertised by employers for those jobs (Indeed.ca, 2017). This study is objective (was not designed as a marketing tool for a specific university or specific degree), and discloses comprehensive, real-world data related to employment salaries rather than relying on individuals voluntarily participating and disclosing their income. The third data set that was chosen as a credible source was the Government of Alberta sponsored website, Alis. Alis provides career and employment information for Albertans (Alis (Gov t of Alberta), 2020), including annual salaries for various job categories. Similar to Indeed.ca, this is comprehensive, real-world and real-time data of employment salaries in Alberta. The Conference Board of Canada was discarded as a source due to the age of its data it disclosed median weekly income as of 2013. In addition, the source cited for their data was Stats Canada (The Conference Board of Canada, 2013). Given the census is only conducted every five years, and it was last conducted in 2016, that would mean the source data used was actually more likely from 2011. SalaryExplorer.com was discarded as data source because, while you can pull the data based on geographical location (ie a working person in Alberta) (SalaryExplorer, 2021), there was no way to separate the data into that which related to degree holders and that which did not. Payscale.com was discarded as a data source because while you could pull the data based on certain criteria, such as which university a graduate was associated with (Payscale.com, 2021), this would only allow you to calculate an average salary for a graduate of a specific Alberta university, rather than a University graduate residing in Alberta. Operationalization and Calculations Stats Canada The age group category 15 to 19 years was included in the broader census, which included the option of high school diploma as the highest certificate attained. Given it takes four years posthigh school to graduate with a bachelors degree or above, data points for this age group have been judged to be either errors or extreme outliers and excluded, with the remaining categories then being averaged using the Excel function =AVERAGE(). Thus calculated, the average salary of a University graduate in Alberta in Canada of all employable ages and all degree types according to the 2016 Census was $85,689 (see Exhibit 1). Indeed.ca Rather than being collected and presented by age group like Stats Canada, the Indeed data was collected presented by degree type, and only on a Canada-wide basis. By averaging the averages of the degree-types, the average salary of a University graduate in Canada of all employable ages and all degree types in 2016 according to Indeed was $72,152 (Indeed.ca, 2017). This is 1.05 times the average salary of a University graduate in Canada according to Stats Canada. The same multiplier of 1.05 was applied to the Stats Canada Alberta average in order to extrapolate an Alberta average from the Indeed.ca data set. Thus calculated, the average salary of a University graduate in Alberta of all employable ages and all degree types in 2016 according to Indeed.ca was $89,851 (see Exhibit 2). Alis In order to operationalize the data, the Indeed categories were used to search and match the closest available Alis categories. Where there were no close matches, the category was eliminated. Alis data is already Alberta-specific and applicable to Albertans of all ages who meet the education qualifications for the job, so there were no additional calculations to make to determine the average other than the Excel function =AVERAGE(). Thus calculated, the average salary of a University graduate in Alberta of all employable ages and all degree types according to Alis was $84,913 (See Exhibit 3). Conclusion To reach a final average, the average salary calculated from each data source discussed above was subsequently averaged, as illustrated in the below table. APPENDIX B REFERENCES Alis (Gov t of Alberta). (2020). Retrieved from Indeed.ca. (2017, August). Where Will Your College Degree Take You? Retrieved from Payscale.com. (2021). Retrieved from SalaryExplorer. (2021). Retrieved from Statistics Canada. (2016). Average earnings or employment income, by age group and highest certificate, diploma or degree. Retrieved from The Conference Board of Canada. (2013). Income Advantage for University Graduates. Retrieved from Zikmund, W. G., Babin, B. J., Carr, J. C., & Griffin, M. (2010, 2013). Business Research Methods (9th ed.). South-Western Cengage Learning. 1 Secondary Research Sources Secondary data is the data gathered through the utilization of primary sources and made conveniently reachable for researchers to utilize towards enhancing their study. Researchers can also utilize secondary information for their research practices. In incidences when researchers are expected to conduct research involving calculations and business, utilizing the available information proves effective (Zikmund, Carr & Griffin, 2013). The secondary data sources provide the required information freely and without needing the interaction of the research participants with other subjects within the research field. The national census reports form good examples of such sources that are available for free on various websites. Secondary data research sources also prove applicable in incidences where limited time is allocated for the research making them the desirable options. Additionally, the research may entail collecting private and sensitive information making it ambiguous to engage in primary research involving interaction with participants. Researchers are thus entitled to utilizing secondary research in accomplishing their research objectives. Strengths and Weaknesses of Secondary Data Sources Strengths The utilization of secondary data has, however, proven to incorporate several strengths and drawbacks. One benefit of these sources is allowing individuals to skip data collection stages, which is preferable as it helps answer prompts via data analysis directly. Secondary researchers are bound to question issues previously not considered by primary researchers, thus deepening the secondary data analysts knowledge regarding the field s existing data (Zikmund, Carr & Griffin, 2013). Primary data researchers may also have utilized several sources to 2 conduct rigorous information gathering, thus improving the reliability in delivering the study s set objectives. Additionally, data sources offer researchers opportunities for deepening their data knowledge available within literature contexts by enhancing the generation of new knowledge from data analysis sources previously utilized by researchers (Zikmund, Carr & Griffin, 2013). The sources also offer numerous expert insights and perspectives. Peer reviewing of the perceived sources also ensures their quality in cases of scholarly articles. Weaknesses However, secondary data sources include weaknesses as well entailing a lack of control over data gathering procedures. Secondary sources also appear ambiguous in refining questions, procedures, or measures based on pilot tests and feedback offered by researchers within given fields. Conflicts of interest and access barriers also incorporate secondary sources weaknesses thus minimizing their applicability to given situations (Zikmund, Carr & Griffin, 2013). Secondary research sources in most instances, are not majorly focused on the researchers specific topics, thus requiring them to dig deeper and conduct detailed analysis towards finding applicable information. Information from secondary sources may also incorporate researchers faulty approaches and own biasness making them unreliable in most incidences. Secondary sources are also entitled to becoming outdated thus rendering them useless while dealing with research involving current trends in our modern world. The secondary sources weaknesses thus require researchers to incorporate data transformation approaches towards converting the available information to conveniently fit the research studies under consideration (Zikmund, Carr & Griffin, 2013). The 3 information from these sources is also entitled to constant confirmation and comparisons with other sources towards ensuring their reliability and applicability to relevant areas. Clarification of The Study s Investigation This paper presents a secondary research approach meant towards determining Alberta s average university graduate salary. The study thus considers the eligible Alberta university graduates having substantial work experience, holding a bachelor s degree in any field offered within the university. The study, however, excludes the age limits provided that the target graduates have attained the satisfactory academic levels highlighted. The Secondary Data Sources Identified for The Study The study considered various secondary data sources incorporating the relevant information and shedding light on the salaries and wages entitled to the University of Alberta graduates. The sources identified include but are not limited to; Alis Canada website, Indeed.ca, Stats Canada, SalaryExplorer.com, Payscale.com, and The Conference Board of Canada. The Credible Data Sources Used The credible secondary sources which the study has found applicable to our context entail Indeed.com. The site is recognized globally as a jobs platform utilized by potential employers in advertising job vacancies. The site s data gathered and utilized in this study dates back to 2016, a similar year when Canada conducted its last census. Indeed.com works by identifying the major degrees offered by Canadian universities, identifies the relevant job titles for the conferred degree, and aligns them with the appropriate salaries offered by employers worldwide during their search for qualified individuals (Indeed.ca. 2017). However, the data obtained from this source has undergone detailed analysis, comparisons have also been made across various sites platforms towards generating reliable information. However, the site s study relied on the 4 available information without invading the graduates privacy, requiring them to disclose their salary earnings. The other secondary data source chosen and regarded as credible for this study is the Alis Canadian website. The platform is government-sponsored, offering employment and careerrelated information regarding the Alberta individuals within Canada (Alis, 2020). The information provided by this site includes the yearly earnings for individuals having varying job titles. The website s data incorporates inclusivity, offering current and updated information on employment earnings for employed persons within Alberta. Stats Canada also proved to be a desirable and credible source in contributing to the study s objectives. The Canadian census reports and results collected after every five years are published and stored on this site. The study preferred the site as it offers reliable information analyzed and cross-checked by the Canadian government. The site s information also embraces objectivity as it targets the public and incorporates unbiased information whatsoever (Statistics Canada, 2016). The data source also incorporates all-inclusiveness in addressing its purpose and reaching the target population. The site s data is also readily available for public access, providing room for detailed analysis, which may consequently lead to deriving desirable outcomes once applied accordingly. This study, however, selected data regarding employed university graduates within Canada to aid in calculations requiring the establishment of average earnings entitled to them. Reasons for Exclusion of Other Secondary Sources The other secondary sources, including The Conference Board of Canada, PayScale.com, and SalaryExplorer.com, were excluded by research from the study s calculations due to various reasons. SalaryExplorer.com, for instance, was discarded as the data findings were not classified 5 based on the degrees acquisition, which was one of the study s primary focuses despite meeting the geographical requirements. The information generated from the Conference Board of Canada was also ignored as part of the study. It appeared outdated, having been collected three years ago from the set dates whose information would prove appropriate for the study. Payscale.com, on the other hand, was excluded from the study as the information provided considered specific universities other than basing its facts on graduates from all higher learning institutions within Alberta s geographical range. Average Graduate Salary s Calculations Based On the Sources Utilized Calculations Based On Alis Website The data collected from each secondary source was analyzed by the study critically, with each source incorporating distinct features and consideration towards deriving the appropriate information. For the Alis website, comparisons with the Indeed.com website were made towards determining the information classes which appeared similar in both cases. The data classes that offered a mismatch were automatically discarded from the analysis meant to calculate the graduates mean salaries and wages (

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