Compensation best practices recommend that more than one source of data be used when evaluating jobs and we found that most companies reported they use several. Org weighted may better reflect company policy, whereas incumbent weighted data may better reflect the actual labor market, We asked our survey participants to provide some additional information about how they benchmark the data https://www.cs-coding.com/revolutionizing-efficiency-in-claims-processing-automation/ when they come across common situations. Again, this can be attributed to the significant portion of variable pay in the Sales jobs’ total compensation package.
Quickly find the salary data you need with filters for role, region, and industry. Our salary benchmarking calculator is powered by continuously updated data from Glassdoor, LinkedIn and local research across industries. Salary benchmarking aligns your compensation strategies with market standards, guaranteeing competitive pay that attracts and retains top talent.
Finance, technology, and https://expandsuccess.org/dealing-with-work-burnout/ professional services sectors generally pay 8-15% above average for equivalent roles due to higher margins and competition for specialist skills. London commands a 15-25% premium over most regions due to higher living costs and concentrated demand for talent. This calculator uses a structured methodology that mirrors how recruitment agencies and HR departments benchmark salaries across the UK.
- By comparing their salary offerings against industry standards, businesses can identify any gaps in their compensation structure.
- Companies that have a significant employee population likely have greater number of jobs and wage costs that should be validated.
- The annual review cadence is practical, as this is generally when salary surveys and pay structures are updated by most Organizations.
- Present specific market data (ONS ASHE, Glassdoor, industry surveys), your performance record, and the cost of replacing you.
Set salary ranges
The Hays methodology brings independence to any review, as well as robust evidence of what others in the market are doing both now and in the future. Whether you’re creating new roles, planning a restructure, or shaping your long-term workforce strategy, we provide the insight you need to stay ahead. Our Pay & Reward Benchmarking services give you the clarity and confidence to make informed decisions that attract, retain, and reward the people who power your business. With tailored reporting and real-time insights, we help you craft a remuneration strategy that attracts, retains, and rewards top talent.
- Download your free suite of guides today and stay ahead in the UK job market.
- Our salary guide for Australia covers the critical industries defining the 2026 economy, helping you understand where demand and pay are moving.
- Using benchmarking data, you can set salary ranges that reflect market values while accommodating different experience levels and skills.
- Covering 1,000+ roles across 23 industries and customised to 11 regions across Australia, the Hays Salary Checker gives you instant access to salary data for your specific job title and location.
- Salary benchmarking provides the wider market perspective you need to keep payroll costs under control, support operational efficiency, and maintain a fair, sustainable compensation strategy.
- Finance and accounting IT and technology Marketing and creative Legal, risk and compliance Administrative and business support Human resources
According to the Robert Walters Salary Survey 2025, 55% of companies plan to hire more people, and 85% expect to raise salaries. Moving jobs typically yields 15–20% salary increase vs. 3–5% for internal rises. Glassdoor, LinkedIn Salary, Reed, Totaljobs, and sector-specific surveys (e.g. CIPD for HR) also provide reliable data. Conducted by a dedicated research team, we provide tangible information about specific and up-to-date remuneration from the https://www.motonlegalgroup.com/corporate-organizational-structure-types/ most relevant peers to your organisation, whether that be public, private, not-for-profit or internationally.
- Employers need to keep track of these changes to offer competitive pay while staying compliant with regulations.
- Without accurate pay benchmarking, salaries can creep higher than market averages – for example, when long-serving staff negotiate increases or when demands are made inconsistently across teams.
- We asked our survey participants to provide some additional information about how they benchmark the data when they come across common situations.
- Platforms like Pave provide continuously updated salary and equity benchmarks across industries, job families, and regions.
- See how we turn complexity into clarity, so your people strategy delivers meaningful results.