Daniel teaches sixth grade at a local elementary school. He significantly increased his salary by earning a master's degree in education. This is an example of ________.
A. pay for performance
B. profit sharing
C. a bonus
D. pay for knowledge or skill-based pay
E. gainsharing
Answer: D. pay for knowledge or skill-based pay
Explanation: Also known as skill-based pay, pay for knowledge ties employee pay to the number of job-relevant skills or academic degrees they earn. The teaching profession is an example; elementary and secondary teachers are encouraged to increase their salaries by earning further college credit.
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