The differences in salaries and wage rates are partly caused by different levels of competitiveness for talent in the market.

Salary Differentials

The variations in salary for similar jobs within the same sector or across different sectors, often influenced by geographical location, experience, education level, and the nature of the work.

Competitiveness

The ability of a company, region, or country to produce goods and services that meet the test of international markets while simultaneously maintaining or expanding the real incomes of its citizens.