Seniority-based pay is the most used in Korea. Many scholars have argued for a change to job-based pay as an alternative to reduce the limitations of seniority-based pay. However, job-based pay has not been used successfully in Korea. This study attempts an empirical analysis of the blocking forces, supporting factors, and factors that maintain the job-based pay. In Specifically, focusing on the characteristics of the company, we test how companies with certain characteristics adopt and successfully maintain the job-based pay. For the test, we used the human capital company panel. As a result of the test, more job-based pay were introduced in the financial industry than in the manufacturing and service industries, and the adoption of job-based pay in older companies decreased. This study attempted to examine the factors that adopting and maintaining of job-based pay by examining the characteristics of companies. Finally, we discuss the implications to companies that attempt to introduce job-based pay.