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Pay Rate Analysis

Does any one have experience with analyzing pay rates? Last year we decided we wanted to bench mark our associates pay against industry averages to determine how we pay compared to other companies. We used Payscale.com to do this analysis and it seemed as if we were paying fairly close to averages. I am working on this project again this year and see very similar results; execpt for a couple positions seem way off so I tried using Salary.com but their results were producing much higher results than Payscale. Of course this poses the question, which one is accurate or neither?

Curious if anyone else does pay analysis and what resource you use?

Answers

Topic Expert
Regis Quirin
Title: Director of Finance
Company: Gibney Anthony & Flaherty LLP
LinkedIn Profile
(Director of Finance, Gibney Anthony & Flaherty LLP) |

When I do this type of work I use Robert Half annual data. They give me a range and then a gross-up or gross-dowm factor to use by market. I always find the results very interesting. You find individuals that are way over the target and those that are way below. Shoot me an e-mail if you want the RH reports. I believe I can dig them out.

Chris Shumate
Title: Accounting Manager
Company: Dominion Development Group, LLC
LinkedIn Profile
(Accounting Manager, Dominion Development Group, LLC) |

I agree with Regis, Robert Half is considered an industry expert. The Robert Half guide is a free download also. The 2013 scales are out. They include the national average, with what RH has determined to be certain locations adjustment percentages for cost of living. Depending on where you live you will want to adjust accordingly.

Topic Expert
Christie Jahn
Title: CFO
Company: Prime Investments & Development
(CFO, Prime Investments & Development) |

This is very helpful for my administrative side; I am also looking for something for the operations and sales side too.

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