In the absence of national wage setting
“In the absence of national wage setting, wages for national wage setters would vary across establishments by a median of 6.1%, and profits would be 3 to 5% higher.”
"Within firms, nominal wages are relatively insensitive to local prices. In the absence of national wage setting, wages for national wage setters would vary across establishments by a median of 6.1%, and profits would be 3 to 5% higher." - Becker Friedman Institute for Economics Finding from University of Chicago Research