Top 5 Salary Comparison Tools

Cody Cromwell
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Top Salary Comparison Tools

Tool #1: Indeed

Tool #2: Bureau of Labor Statistics Salary Survey

The Bureau of Labor Statistics (BLS) is a division of the U.S. Department of Labor and is responsible for collecting, compiling, analyzing, and disseminating economic data.

The BLS salary survey, or the Average Weekly Earnings of Wage and Salary Workers, is an effective tool for comparing the cost of living in different locations and for determining the relative income level of people in different professions. Because the survey is conducted using a scientific, random sample of employers across the country, each salary survey reflects the average experience and compensation level of workers in different occupations and industries across the country.

This survey is useful for determining the relative income of workers in different jobs in a particular area. Specifically, survey participants log their workplace earnings and are asked to estimate their own earnings and the percentage of workers in the same occupation with whom they are similar in age and education. This is a good way to determine relative salary in your profession in a particular region of the country. Obviously, the salary survey is not a universal salary guide.

Bureau of Labor Statistics Salary Survey

The salary survey is offered every two years.

The latest survey, released in April, 2015, contains detailed information on the average earnings of full-time workers in the country by sex, age, and education. The data for the survey is provided by over 4,800 employers.

Tool #3: Salary.com

Tool #4: PayScale

If you’re looking for a simple tool that will give you an approximate salary range of various jobs, PayScale is a new tool that offers some insight. Here’s what you’re going to need to get started:

Your Current Rank

PayScale allows you to search for the resume of a random person on LinkedIn, a tool that most people already have on their desktop, and get that person’s job title, location, company, and value. PayScale compares that information against similar people with the same job title in the same area who have put their job titles and values on their LinkedIn profiles. That’s how it determines how much an average job would pay.

Email

To get your account set up, you’ll need an email address. When you sign up, they’ll send an email to help you get started.

Once you’ve signed up, you can start doing your salary comparisons. Here’s what the site suggests:

  • Write down the jobs you are interested in, such as financial analyst, marketing executive, etc.
  • Search for people with the same job title.

Tool #5: LinkedIn Salary

When your resume does not get you the job you want, what do you do? It is important to show your accomplishments to your potential employer to convince them that you are the perfect candidate. A resume often does not have the necessary information to lend itself to this specific purpose, as it may not include any certifications or awards. Only when you get an interview can you provide this information. LinkedIn allows you to attach your resume, but if you are looking for some instant and urgent help to check the market for available jobs in your field, which in your field? LinkedIn’s hiring solutions, such as Answer to Interview Questions, Instant Interview, and Resume Review and Validation, are very helpful if you’re looking for quick results.

LinkedIn has a salary calculator, a tool that allows you to compare your industry and location to see what you can expect to make in that field.

You can even check out a salary range for people with your skillset on LinkedIn.

It’s quick and easy to compare the salary offered by your current and potential employers, and it’s definitely one of the best ways to lower the salary gap between your offer and your expected pay.

How To Use Salary Comparison Tools

Maximize Your Income?

As the average salary increases year by year, salary comparison tools can prove to be useful. These tools allow you to find the average monthly pay for every position, industry or job. The average salary is a good starting point because it can offer you some insight as to whether there are any differences in pay within certain occupations.

Using salary comparison tools gives you the ability to find out the difference in monthly earnings between similar positions within a particular industry. Shrewd salary comparison can help you improve upon your current salary while increasing its value. The wage gap can be narrowed, reaching and maintaining a fair and equal pay rate for everyone. It also helps you know what else you could be getting paid for or can get paid more for.

By analyzing the difference in pay between similar positions within an industry, you can see what pay range is standard compared to what is considered a top earning. Pay discrepancies can be alarming, but they are true only if you don’t compare similar jobs in a similar timeframe. The job market of today is much better than it was a few years ago, but it may not be for long. Career fields that are thriving in one location may not be available in other locations. For example, San Francisco offers high income levels for its residents, but not everybody can move to San Francisco. So analyzing the pay rates in different fields can help identify potential opportunity in case you lose your current position.

Get A Good Job Match

Getting a good salary matching is a key point before starting any business for a Financial Technology (fintech) startup. Get a good salary matching tool, you can easily compare the salary package of the company based on your abilities and experience.

For a recruiter or any company decision maker, it is difficult to get a good salary matching tool, you can easily match the salary gap of your employee with one of the top 5 salary tools.

Most of the current sitting technology giants are focusing on the technology companies like Amazon, IBM, Microsoft, Google and Facebook. But recently the market is only focusing on the startups. There are many new startups who are working on the technology-related things to make their work easier.

A salary matching tool will help you to find a better company as compare to the one that you are working with. The salary of the company should be significantly higher than the salary of your current company. This is somehow confusing for any organization. A good salary matching will help you in the search of the best company to work at.

The list of the top 5 salary tools as mentioned in the article depends on the area of technology. If you are also developing an app or a website, you get a list of the top 5 salary tools with the best salary matching tools.

Quantity vs. Match

Q: How do you know if you have a good or bad salary?

A: Far too many job-seekers are still relying on the archaic formula of years of service x weekly salary. The only problem with this system is that it doesn’t consider other variables like employer size, potential advancement opportunities, or other higher value contributions to the job. Yes, it does mean that you can simply work for a company for a long time and then basically be paid what you were making when you started, but that’s certainly not a recipe for growing and advancing within a company.

Instead of simply basing your salary offer off of the years of service / weekly salary calculation, I think it’s prudent to also include as part of the equation some of the higher value indicators. The five variables that I think are critical are:

  • Role
  • Position
  • Employer
  • Demographics
  • Perspective

The Role axis is just as important as the other four axes. Just because someone may have had the same role for twenty years, that doesn’t necessarily mean that they are the best fit for a new position.

Compa Ratio

Compa Ratio is an online salary tool that compares your salary against the salaries of candidates in urban areas for the same job title.

Compa Ratio reports offer a wide array of salary information, including: Average salary for similar positions in your area; the average salary for percentiles of jobs with the same title and location; and the median salary for percentiles and range of jobs that fit the description of your title. It also collects salary data from the past 12 months to provide a historical view on what your salary will be in your new position.

Compa Ratio allows users to get free salary estimates based on compare your salary against similar jobs submitted by other users. These results will be displayed in an easy to use interface that lists the salary, location, and job title of all the jobs submitted.

Employees for both entry-level and experienced candidates can find the right job using this tool. Both salary information and demographic data will help employees determine whether the salaries of jobs they are applying for are competitive with their own salary, and whether they should take the job.

Compa Ratio has a reliability rating of 95% based on LinkedIn reviews. The site lists 36 jobs after the hiring process, when a candidate receives a job offer.

How We Reviewed Salary Comparison Tools

The first time you look at salary comparison tools…you’re stuck! All the options on the list look so similar. You can’t tell which one is the best, and you don’t have any way to know what’s important for those tools to be considered the best. We too were stricken, and action was needed…we wrote this guide.

In order to provide you with the highest quality answer, we researched and reviewed each of the best salary comparison tools in this guide. We reviewed their features, their ability to get you decent data, and their value. We broke down the best areas of each tool…so read on to learn how awesome your options are.

Amount of Data

It doesn't come as a surprise that there is a growing trend of salary research and accuracy. In fact, the last year saw a significant increase in the publication of websites, blogs, forums and articles dedicated to salary research.

With the growing wave of salary research comes an ever expanding amount of data. This means the data becomes more relevant as well as reliable. Some sources, especially those with less credibility, have shorter time periods to research data. As a result, they don't always provide the most accurate information.

In order to choose the best available tool for salary research you would need to put each tool through their paces. But how should you go about it? Well, for that you need to figure out whether you want the most detailed data or you want to go for a tool that will give you the most reliable and updated data.

If you need the most detailed data, you can then consider other factors as well. For example, you may want to consider following tools as well:

The salary post in Glassdoor is one of the most popular and far-reaching sites to research salary information online. But it is not without flaws. As for the biggest flaws, they are the lack of average figures. In addition, you will also not get all the positions (even at some agencies). But in the context of salary information websites, that leaves Glassdoor as one of the more popular sites.

Data Source

(s): Salary surveys and pay comparison tools

The application of statistics for the purposes of analytical decision making in a wide range of disciplines such as health care, banking, advertising, education, engineering, finance, and e-commerce; as well as in government and nonprofit organizations; and in evaluating both student academic performance and the performance of athletes. Often referred to as "social science computing" (or "social science data analysis").

A discipline dealing with the collection, organization, and analysis of numerical data to support decisions and analyses. Specialists in this field are useful in a wide range of areas in business and industry.

Dealing with the collection, organization, and analysis of numerical data to support decisions and analyses.

Comparable Role Data

Comp time is a subset of total time and has the same amount of time in it as full time. This type of time is typically granted to employees with open shifts and to employees required to work some patterns so that staffing coverage is maintained. Comp time can be used to start a new shift or to cover regular work hours or vacations that the employee cannot work.Some agencies have a pay by the hour method and credit time to employees for hours worked. This method is typically viewed as a way to reduce straight time rates when an employee is able to clock in for less than the normal hour. This method can also be beneficial by reducing cash out and for other accounts payable and payable expenses.

An estimated working week is a time-based working hour model in which the employee calculates the number of hours to be worked based on factors, such as business needs or seasonal changes. Some employers use estimated working hours as a way to allow employees to work a reduced number of hours and still meet goals such as meeting a new deadline. Estimated working hours are typically calculated based on a full shift, but the difference is that the entire shift is typically not used for normal activities. Some employers use estimated working hours as a way to account for employee absences and other scheduling issues or to eliminate overtime and still meet short-term goals.

Filter Options

Ranges

Of RangeRiders:

RangeRider is a free tool from CSG that determines the ranges of tens of thousands of players in League of Legends.

League of Legends is a popular game within a b illion player online-multiplayer battlefield. In League, you get experience for killing other characters and gaining levels. You level up by buying gear, and you can gain more experience by killing other characters or destroying towers, but you need to make sure you're on the right side of the game – the side that wins.

Low-Level 5s, Mid-level 10s, and High-level 25s.

Getting stuck around a level is annoying, and many champions in League level up very slowly. That's why playing ranked games helps to get you into the right level group, and so you can play at your best.

Currently, over 4 million players play League of Legends – and the more players there are on the servers, the more balanced the game becomes over time. So, the game knows when there are more and fewer players on the servers, so it balances the experience.

To decide which experience level you would have gotten, if you had played enough games to match the average and you were level 25, we used an average of the experience levels of all players in that level group.

Bottom Line on Salary Comparison Tools

Salary, pay rate comparisons can be quite helpful if you are planning to move for a new job opportunity. It’s quite difficult to find relevant salary information for yourself if you don’t know what the best place to start is. There are numerous salary comparison sites available on the web, so it’s wise to use one of them for your search if you want to accurately compare salaries and pay rates.

Be careful to understand how these sites work, though. They all have different functions and some might be not a good match for your work search. So here are tips to use when looking for the best way to compare pay rates.