With the rising popularity of online jobs, one can’t help but wonder how lucrative it is and if you can make money online through such jobs. Do they really pay well and are these worth leaving a nine-to-five job and staying home to work instead?
For stay-at-home moms, persons with disability, retirees, and those who are young but need to stay at home to take care of sick members of the family, there isn’t much choice. For these people, earning can be a good incentive for the time well-spent, but for those who are in it for the money, online job salaries are important concerns that need to be negotiated well with prospective employers.
How Are Online Jobs Compensated?
There is no denying how easy it is to make money online these days. Nevertheless, with the various jobs available on the Internet, it is actually hard to pinpoint the prevailing salary in the market today. While there are certain websites that can give you information regarding the standard salary rates, the popularity of outsourcing has dramatically reduced the pay range, especially for online workers from the Far East.
A job applicant is advised to benchmark the salary by validating the job content. With the global culture evolving on the Internet, there are many different cultures, customs, and traditions influencing job descriptions — such that there is a need for clarification in order to foster understanding between contracting parties.
To help people who make money online deduce whether they are being paid fairly or not, World at Work, a company touted as the authority on compensation matters, suggests the following glossary to define the four fundamental elements of cash compensation paid by employers.
• Fixed pay is also called “base pay.” This is the mandatory compensation. This is not changeable regardless of the performance level or results achieved within a specified period.
• Variable pay is also referred to as “pay at risk,” which means the pay is not fixed and the pay changes depending on the agreed level of performance or results achieved. While jobs of this type are another way to make money online, the fee is typically paid just once and repayment would require doing another job of a similar or different description depending on the agreed stipulations in the contract. In short, there is no guarantee of long-term income.
• Long-term incentive pay is actually a type of variable pay that is designed to recompense performance over a year. These have the following common forms: stock options, restricted stock, performance shares, performance units, and cash.
• Short-term incentive pay is also a form of variable pay. It is considered short-term incentive when the compensation is intended to cover a period of a year or less.
From Meager to Bountiful
The good news for those who desire to make money online is that just like in the real world, there is a wide range of online jobs and salaries — and these vary immensely. There are jobs that pay less than $30K to more than $100K. However, outsourcing to countries where online workers accept salaries that is just a fraction of these rates is changing the culture of online compensation.
Nevertheless, this is not to say that all jobs on the Internet pay measly fees. For instance, there is an explosion of new health care jobs. Home-based doctors and radiologists are hired by online companies and are able to make money online by performing online imaging and diagnosis to review and make medical assessments. These professionals earn up to about $4K per week aside from a bounty of fringe benefits and bonuses. Professional nurses working online and/or are home-based can do telenursing, advising patients about health concerns over the Internet. By doing this, they can earn more than a thousand dollars a week.
Of course, the blue-blooded royalties of the Internet, the IT specialists, belong to the ruling class. They are characteristically made up of the bright and young workforce that pumps the blood of the Internet. Reports say that computer software engineers who make money online earn an average of $1,549 per week and approximately $85,000 a year. Meanwhile, computer scientists, programmers, and systems administers earn around $1,200 a week.
Online jobs can be lucrative. However, if you have special abilities or skills that are in demand, you can expect to get paid more.