Useful tips

What are the best salary surveys?

What are the best salary surveys?

5 top IT salary surveys

  • Robert Half 2019 Technology & IT Salary Guide.
  • Foote Partners’ 2018 IT Salary and Skills Pay Survey Reports.
  • Dice’s 2018 Tech Salary Report.
  • PayScale Salary Survey.
  • Indeed’s Search and Compare.

What does salary survey include?

A salary survey is a tool specifically for remuneration specialists and managers to define a fair and competitive salary for the employees of a company. The survey output is data on the average or median salary for a specific position, taking into consideration the region, industry, company size, etc.

Where can I find salary surveys?

One of the largest and most comprehensive sources of free salary information is the Bureau of Labor Statistics (BLS). The BLS has salary survey data for many different positions in various industries as well as for specific geographic locations.

What is salary benchmarking process?

The salary benchmarking process gathers information on pay and benefits for various organizations. It then goes on to compare the pay package on offer against those offered for the same role by competitors. This information is then used to calculate the average salary for specific roles within an organization.

How do you conduct a salary survey?

How to Establish Salary Ranges

  1. Step 1: Determine the Organization’s Compensation Philosophy.
  2. Step 2: Conduct a Job Analysis.
  3. Step 3: Group into Job Families.
  4. Step 4: Rank Positions Using a Job Evaluation Method.
  5. Step 5: Conduct Market Research.
  6. Step 6: Create Job Grades.
  7. Step 7: Create a Salary Range Based on Research.

How do you do salary analysis?

Follow these steps to conduct a comprehensive market compensation analysis:

  1. Access salary and wage surveys.
  2. Assign responsibility.
  3. Define job categories.
  4. Collect data.
  5. Perform analysis.
  6. Compare to market average.
  7. Make pay structure decisions.
  8. Align with results.

What do you need to assess before you consider using a salary survey?

It is important to look at job duties and responsibilities, not just job title, when deciding if salary survey information is comparable. To be comparable the jobs must have a similar level of responsibility and range of duties.