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3.5.3 Wage determination in competitive and non-competitive markets

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Question 9

In 2024, data from the digital technology sector revealed that principal AI infrastructure engineers in the UK earned a median salary of over £160,000, while the median salary for technical customer support agents in the same sector was £28,500. Furthermore, reports highlighted that ethnic minority representation in senior technical and leadership roles remained below 8%, contributing to significant average pay disparities within the industry.

With reference to an industry of your choice, evaluate why wage differences exist within the UK labour market.

Labour Market Wage Determination Diagrams

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3.5.3 Wage determination in competitive and non-competitive markets Questions

  1. A Level
  2. /Economics
  3. /3.5.3 Wage determination in competitive and non-competitive markets