As a business owner or HR specialist, you want to ensure you’re offering employees a competitive salary. After all, happy employees mean a productive workplace and a healthy bottom line for your business.
But where do you turn when you’re looking for up-to-date information on what similar companies in your industry are paying their employees? If you feel like you need to better prepare yourself before your next hire, take a look at these five sources of salary guidance for your company.
#1. The Bureau of Labor Statistics’ Occupational Outlook Handbook
The Bureau of Labor Statistics’ Occupational Outlook Handbook is a great place to start when you’re researching salaries. The handbook offers you detailed information about what workers in specific occupations earn and projected job growth for those occupations.
In addition, you can have specific information for your payroll processes, like salaries according to economic sectors and industries in the US, on-the-job training, entry-level education, fastest growing salaries, highest paying, featured occupations, and career outlooks.
Best of all, it’s completely free to access the handbook.
Totaljobs’ salary checker is another valuable tool for business owners and HR specialists looking to ensure they’re competitive regarding employee pay. You can use the salary checker to enter keywords and preferred locations.
Additionally, the Totaljobs salary checker allows you to compare how much you want to pay someone with how much other businesses are paying for a similar role. This information can be extremely helpful in recruiting and hiring.
For example, you can utilize the information provided by the salary checker to create a better job offer or to look more attractive as an employer. If you want to learn more about how to create a compelling job offer, read our recommended blog post.
Glassdoor is well known as a resource for jobseekers, but it can also be helpful when you’re trying to determine salaries for your business. In addition to offering insights from current and former employees about what it’s like to work at particular businesses, Glassdoor also provides users with salary information for specific roles at those businesses.
This allows you to determine if you’re paying fairly to your remote employees. However, if you want to learn more about Glassdoor and how it differs from Indeed, we suggest you watch this video.
Indeed is another popular employment site that can also be used to research salaries. You can use this platform to browse top-paying jobs by industry and have information regarding top companies and popular careers.
Go to Indeed and enter the job title and location into the search bar. It will provide you with average salaries for that role in that area, as well as postings from businesses that are currently hiring for that position.
#5. Salary Expert
This is a more recent entrant into the world of salary guides, but it’s already made a splash thanks to its innovative approach to salary data. Rather than relying on self-reported data, Salary Expert uses artificial intelligence to generate its salary estimates based on factors like education level, years of experience, and industry type.
Although it can be tough to find info about salaries for specific tasks, you can get the information you need with the appropriate tools. This is why we provided you with our top 5 salary guide sources for US jobs, including The Bureau of Labor Statistics’ Occupational Outlook Handbook, Totaljobs, Glassdoor, Indeed, and Salary Expert.
Have you found another great resource for finding salaries that we didn’t include? Let us know, and we will add it to our list of best salary guide sources.