A comparison of salaries, also known as a salary comparison or payment comparison, is a comparison of pay for two or more positions, whether within your organization or outside it. If many payment comparisons focus on The base salary may also include other payment elements, including bonuses and incentive payment vehicles.
Realization of a comparison of wages using informed market data of HR is a critical step in the market. Prices of prices. Whether you use data from traditional salary surveys or an aggregate source of Payment data As the data of the Companalyst market, the comparison of payment rates in the market can help you evaluate the running rates by similar roles in other companies.
Comparisons of internal salaries, on the other hand, can help you evaluate if you have any potential problem with the inequity of payment or salary compression.herrWantriented as salary structures, which facilitates the comparison of pay for multiple jobs within your organization, simultaneously, can help you quickly locate potential problems – if you are comparing payment within your organization or in the market.
If you are hiring for a new position, planning of annual salary increases, or giving an employee a deserved promotion, salary comparisons canay to ensure that your payment remains externally competitive and internally equitable. The steps below delineate how to correctly compare the payment for two positions, using data from our free salary assistant.
Comparing wages is more than just payment
Using a salary comparison tool, Comonuestro Salary Assistant, can help you speed up the salary comparison process as it begins to look for the Market. In the followingExample, we will compare two similar positions, the Marketing I Assistant and the Marketing II Assistant, which fall into the same family of jobs, function and focus within our taxonomy. As we only use a source of market data for This payment comparison, we will focus on why these works are different, and therefore, why is your payment different? Rent also. This exercise will help us determine the coincidence of the right work for an internal position that we try the price .
While watching the payment by two different jobs in our example, the salary comparison process is similar is comparing the payment for the same work through different data sources. Once we have found our coincidence Work, we will discuss how to make a comparison of salaries with the market, as well as the sources of data that you can use to market price in our work.
Finally, we see from our organization to assess where our work is divided into our work by the hierarchy and internal payment structures based on what we now know about our work game and the price.
Find the correct work
When youcompare the Marketing I and Marketing Assistant II jobs using our salary assistant, the first thing you will notice is that the medium-sized salary for a marketing assistant i is $42,019, while the medium base salary for an II Marketing Assistant is $ 47,437.So, what makes these jobs so different they would show a difference of $ 5,000 in the price?