Sitting directly across from you at the offer table is your anxious candidate awaiting the release of your proposed salary. You have
prepared your offer based upon the salary scale provided by your
company. Also, you have combined several factors regarding this
candidate including; salary history, education, experience and what they
can bring to the opened position.
The candidate has done their research by utilizing free online salary surveys, and has familiarized themselves with the going pay rate for
this job, so what if your offer comes back denied? Well, there is always
a chance of that happening. In fact, this candidate counter offered
with a $10k difference. So what gives? What is the meaning of all this?
If your company isn't already using salary surveys, they should be. Salary surveys are a great way to keep an eye on the going rates for
positions within your industry and within your region. The question is,
which source is reliable? And how much weight should be placed on these
Well, there are many big players out in the industry, some are more pricey than others. And they vary with data reliability. Most survey
companies offer access to these surveys upon your subscription to their
services and / or survey participation.
I have listed the most reliable resources and listed them from lowest to highest upfront costs:
Remember, salary surveys should be used as a tool to monitor the market and gauge your competitiveness. They are incredible guides to
providing a starting point for your salary ranges. A great idea is to
utilize as many tools as possible in order to average out the data.
You would be wise to stay away from firms and surveys who do not render their sources of information. Many outfits will allow anyone to
participate, including individuals who randomly fudge their salary
history. Those can be easily identified and discarded.
So, the next time you sit down at the offer table, be prepared. Your candidate will most likely have a general idea of what they are worth within their market, shouldn't you?