Salary benchmarking is a great tool that enables job seekers and employers to compare salaries for specific roles against market rates. Helping employers attract and retain talent for the long term, but also helping job seekers know their worth.  

Positioned for success: 

 As an employer salary benchmarking is your key to unlocking top talent and showcasing a genuine commitment to employee well-being 

Armed with market knowledge, you strategically position your company and provide clear evidence behind your salary structures. It’s not just about making offers; it’s about making offers that resonate with the best talent from the get-go. Just think, you could have a more streamlined hiring process. 

Don’t let a job title define your value:

Candidates, listen up! 

Salary benchmarking empowers you to break free from the shackles of job titles. It’s your tool to gauge the true market value of your skills and experience, ensuring that fair compensation aligns with your contributions.  

It’s not just about the salary; it’s about evaluating offers, weighing benefits, and shaping decisions that echo your long-term career goals.  

If you find yourself on a different salary than the market, think big picture. Maybe your employer is a start-up offering equity and thrilling prospects instead of a sky-high base salary. It’s about understanding the why behind the numbers. 

The how to: 

So, how do you get started? 

We have broken down the process into a straightforward 5-step process: 

  1. Start by defining job roles and responsibilities.  
  2. Then research comparable roles in the industry. Look for positions with similar responsibilities, experience levels, and geographic locations. 
  3. Gather market data, utilising salary surveys, industry reports, and online resources to collect recent averages for comparable roles. Account for variations such as company size.  
  4. Look beyond base salary and factor in benefits, bonuses, and other perks offered. 
  5. Regularly review and update salary benchmarks to ensure they align with current industry standards. 

Here are a few of our top tips: 

  • Make sure you choose the right competitors. Size, industry, and region can make huge differences in results. 
  • Market conditions change, and so should your benchmarks. Regularly review and update your salary benchmarks to ensure they align with the current industry standards. 
  • Connect with professionals in your industry to gain insights into prevailing salary trends. Networking provides valuable information and may uncover nuances in compensation practices specific to your field. 

Whether you’re a candidate seeking fair compensation or an employer aiming to attract top talent, mastering the art of benchmarking puts you in a strong position to navigate the ever-evolving compensation landscape. Let’s connect and position you for success in your career journey!