The market compensation data in any Job Valuation Report is the same as the data Salary.com provides to all corporate clients, and is developed using the same methodology. Each job has been thoroughly researched and validated by Salary.com’s team of compensation consultants using practical standards for data collection, analysis, and validation that are widely accepted throughout the compensation profession. To customize the market data to an employer’s needs, Salary.com ‘s compensation consultants compare the job and employee traits, where specified, against those typical for the benchmark job. Based on the importance and reasonable value of each trait, Salary.com predicts where an employee with such traits may be expected to fall within the benchmark job’s market range. The result is the predicted pay range.
Where does the data come from?
The data in your Job Valuation Report represents Salary.com's copyrighted market price for this job. All pay figures are expressed in US dollars. Our team of certified compensation consultants establishes our market compensation data based on primary and secondary research and analysis, and a proprietary mathematical model.
How is this different from the Salary Wizard's free initial answers?
The data in the Job Valuation Report is fully scoped. This means the underlying survey data for a given job has been segmented to reflect pay practices specific to various locations, company sizes, and industries. These are factors known to strongly affect pay and are essential when making professional salary decisions for a given job.
Further, the Employee version of the Job Valuation Report accounts for differences in estimated market value arising from personal attributes such as years of experience, performance, education, and other compensable factors known to have some influence on an individual's pay.
In contrast, the Salary Wizard's free answers are based on salary values from survey responses across all sizes of companies, all industry types, and all locations, and offer no personal customization. The Salary Wizard simply applies a general geographic adjustment factor based on the city or ZIP code specified in order to give users an initial sense of local market conditions and to give some confirmation that the correct job title and description have been selected.
To ensure comparability between the free and premium products, each Job Valuation Report includes a chart showing how differences in pay arise as data is scoped to reflect specific locations, company sizes, and industries.