Salary Tools
A salary calculator is a tool designed to help its users determine appropriate compensation levels for emloyees. With Salary.com for Business’ Compensation Solutions, you have industry-leading market pricing data to help you benchmark, compensate and reward your people. The Salary.com data and software allow you to analyze pay competitiveness all in one integrated system. All of Salary.com’s data is proprietary and based on employer-reported data. It does not contain data from individual site users, placement agencies, job postings, or any other sources that would traditionally be characterized as "unreliable" by Compensation or Human Resource professionals. With reliable data, you can use tools from Salary.com to market price open positions, make competitive job offers, and retain your best talent.
Salary.com offers four salary calculators:
- The HR Salary Wizard®
- The Job Valuation Report™
- The Salary Wizard Professional Edition
- CompAnalyst®
- CompAnalyst Executive Express
The HR Salary Wizard is a free application that business users can use to get a rough idea of the base salary range, annual bonus, and benefits for a given position. The data for the free HR Salary Wizard is based on national averages rather than the more specific data in the Job Valuation Report, Salary Wizard Professional, and CompAnalyst tools. Although not as precise as the other tools offered by Salary.com, the salary ranges presented in the free tool still are drawn from accurate data and may be used to estimate typical salary ranges by position for academic purposes.
For businesses with more practical needs, Salary.com provides the Job Valuation Report. The Job Valuaton Report enables business users to generate a custom report for valuing a specific job or even a specific employee. The Job Valuation Report draws on data points specific to the report, such as the candidate/employee’s quality of education, years of experience, job performance, number of direct reports and more. A member of Human Resources or the hiring manager can imput the pertinent data and generate a comprehensive compensation report in PDF format within minutes. Empowered by the data in the Job Valuation Report, a business user can base compensation descsions on an accurate, detailed report bult on the most current, 100% employer reported compensation data.
For businesses with a lot of needs for market pricing jobs, Salary.com for Business offers a subscription service—Salary Wizard Professional Edition. The Salary Wizard Professional Edition offers all of the featurs of the Job Valuation Report, and allows users to price as many jobs as they need.
For professional Compensation Analysts and Human Resources executives, Salary.com for Business recommends the CompAnalyst® Reporting and Analytics compensation software module from Kenexa. CompAlayst allows quick, streamlined analysis of your internal pay practices against market rates. Analysis with CompAnalyst compensation analysis software ensures your company's pay program is competitive, as compared to the market average. It also aides in analyzing internal pay equity and allows you to adjust your compensation plans accordingly. With this highly-effective compensation tool, you can view compensation survey utilization rates to determine the return on investment of your survey purchases.
For business users with a need to benchmark pay for Executives—whose compensation generally is comprised of a lot more than a salary—Salary.com and Kenexa have partnered to create a solution. CompAnalyst Executive Express is a web-based, single-use report based on Kenexa's CompAnalyst Executive subscription service. With this report, you easily can determine what your competitors are paying their CEOs, CFOs, CTOs, EVPs, and more.
For all of the tools provided by Salary.com, the team of Compensation Analysts at Salary.com reviews available, applicable market pay data to determine the true market for each job in the tools. Salary.com purchases the most current compensation survey reports from well-recognized, reputable compensation consulting firms. To determine the market pay ranges, Compensation Analysts at Salary.com have collected and reviewed data covering more than 29 million individuals working at more than 16,000 companies.
Salary.com Compensation Analysts only report a market pay level if there are multiple sources reporting reasonably consistent information. Salary Wizard data is based strictly on fact; it is neither inflated nor conservative to appease any group. The data reflects simply what companies report paying today.
As a Salary.com for Business user, you have the ability to use Salary.com’s calculators and tools to market price jobs and candidates appropriately. You also can choose to engage with compensation analyst services from Kenexa, an industry leader in human resources planning, for more complex needs.
