The employee does take a risk. The risk is that it is wasting its time vs an alternative opportunity. Also in most jobs there is risk is to health to various de

The employee does take a risk. The risk is that it is wasting its time vs an alternative opportunity. Also in most jobs there is risk is to health to various degrees. Working does consume one's time, energy and health. If one is not getting the best bang for one's potential in wage terms then one is feeling the negative potential of this missed opportunity risk. Conversely if one is getting paid more than they are worth and one is experiencing the upside of this risk. The downside is still present too...they could be laid off and find a less well paying job. So employees absolutely take on risks by engaging in particular jobs vs. alternate opportunities. The most valuable things any person possesses are time and health. To the extent that the labor market is efficient and human capital is well utilized this risk is minimized.