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See our salary, cost-of-living, and executive compensation data in action.
Why Use Salary Surveys?
Salary surveys provide a wealth of data to an organization that is essential for:
- identifing market pay practices
- making informed compensation decisions
- pricing jobs and determining market competitiveness
- determining new hire pay and ranges
- developing the annual compensation plan
- resolving compensation issues
- analyzing pay trends
- establishing job worth hierarchies
- setting salary increase budgets and salary structure movement
- ensuring pay equity
- defending current practices
What to Look for in a Salary Survey
It is important to consider several important factors before purchasing a salary survey. A good salary survey will include:
- Executive summary
- Aggregate data
- Adequate sample size
- Job content information
- Relevancy with regard to your competitors by:
- Industry
- Employee type
- Job match
- Location
A good salary survey will also:
- Adhere to the Federal Trade Commission (FTC) Survey Safe Harbor Guidelines
- Be convenient
- Be timely
- Be cost effective
- Be statistically reliable
- Have a sound methodology
- Be credible
- Require data submission
- Be confidential
Looking to Benchmark Pay?
See our salary, cost-of-living, and executive compensation data in action.