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Theories and evidence
Josep Banyuls and Albert Recto

differentiation. In some large companies, two-tier wage scales have come to be introduced for incumbent and newly recruited workers and, although this is illegal, in practice it has resulted in the gradual reduction of salaries for new employees. In some sectors, such as finance, the use of individual incentives is so widespread that it is customary to perform unpaid overtime to meet performance targets for the salary bonus. As for professional markets, traditional recruitment policies have been replaced by more competitive processes in which some applicants end up being

in Making work more equal