08/14/2024
We surveyed 5,718 people a year ago with a simple question:
ꜱʜᴏᴜʟᴅ ᴊᴏʙ ᴘᴏꜱᴛꜱ ꜱʜᴏᴡ ᴛʜᴇ ꜱᴀʟᴀʀʏ?
89% of the respondents said YES.
ᴄᴏᴍᴘᴀɴɪᴇꜱ ᴀʀᴇ ꜱᴄᴀʀᴇᴅ ᴛᴏ ᴘᴜᴛ ᴛʜᴇɪʀ ꜱᴀʟᴀʀʏ ʀᴀɴɢᴇꜱ ᴏɴʟɪɴᴇ ꜰᴏʀ ᴠᴀʀɪᴏᴜꜱ ʀᴇᴀꜱᴏɴꜱ:
🔸 Losing their competitive advantage in the market
🔸 Losing their negotiation power for the talent they want to bring on
🔸 Their current employees might question the internal equity
🔸 They're unsure about the market range for the skillset they need
🔸 They have no salary bands
ᴛʜᴇʀᴇ ᴀʀᴇ ɴᴜᴍᴇʀᴏᴜꜱ ᴡᴀʏꜱ ꜰᴏʀ ᴄᴏᴍᴘᴀɴɪᴇꜱ ᴛᴏ ꜱʜᴏᴡ ᴛʀᴀɴꜱᴘᴀʀᴇɴᴄʏ ᴡʜᴇɴ ɪᴛ ᴄᴏᴍᴇꜱ ᴛᴏ ꜱᴀʟᴀʀɪᴇꜱ ᴀɴᴅ ᴊᴏʙ ᴘᴏꜱᴛɪɴɢꜱ:
🔸 Give a starting salary point
(i.e. 100K+ per year)
🔸 Give the full salary range
(i.e. 100K-140K base annual salary, based on experience)
🔸 Explain the total compensation structure
(i.e. Total compensation includes a base salary starting at 100K + uncapped commissions of 0-10K+ monthly, and a 10% bonus)
🔸 Mention all benefits offered on top of the base salary and what portion is paid by the company
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