How much do I pay a new hire?
April 4, 2013 5:39 AM Subscribe
I am looking to expand my business in a new way and and would like to know what salary to offer for the position. This is a new experience for me so I have no idea what to offer. Is there a resource that could calculate the job with the market and give me an idea where to start with a figure?
Another option- to get a realistic idea of what others in your area are paying- is to have applicants put on the application what their previous salary was and what they hope to get from you.
Remember, you get what you pay for.
posted by myselfasme at 5:50 AM on April 4, 2013 [1 favorite]
Remember, you get what you pay for.
posted by myselfasme at 5:50 AM on April 4, 2013 [1 favorite]
Glassdoor is one resource, but the easiest way to do it is to look on job boards for similar roles and benchmark salaries that way. That way you can see more detailed job descriptions, expectations, experience etc. Look for competing companies or similar fields and see what they are offering.
There are lots of companies that do salary benchmarking - many of which also do recruitment or consultancy - but they work a lot better for roles that neatly fill boxes (x type of programmer, management accountant, HR Director etc) than generalists or roles that are less common.
You can also go out to a recruiter - the decent ones should be able to guide you. But you'll obviously pay a fair whack in commission once you go down that route.
posted by MuffinMan at 5:51 AM on April 4, 2013
There are lots of companies that do salary benchmarking - many of which also do recruitment or consultancy - but they work a lot better for roles that neatly fill boxes (x type of programmer, management accountant, HR Director etc) than generalists or roles that are less common.
You can also go out to a recruiter - the decent ones should be able to guide you. But you'll obviously pay a fair whack in commission once you go down that route.
posted by MuffinMan at 5:51 AM on April 4, 2013
I don't know what state you live in, but the Department of Labor in my state (Connecticut) collects data on salaries and posts need projections and median salaries by specific occupation, based here. Can you see if your state's DOL has similar data available for the position you want to implement?
posted by dlugoczaj at 7:12 AM on April 4, 2013
posted by dlugoczaj at 7:12 AM on April 4, 2013
payscale exists, but I don't know how valid/reliable it might be, and it's not free for employers. (It's free for individual users seeking to compare their own salaries, though.)
posted by nelljie at 10:06 PM on April 4, 2013
posted by nelljie at 10:06 PM on April 4, 2013
Let the market decide: start the advertised rate low and if you don't get applicants of the caliber you want, raise it until you do.
posted by MattD at 4:54 AM on April 5, 2013
posted by MattD at 4:54 AM on April 5, 2013
This thread is closed to new comments.
posted by itheearl at 5:47 AM on April 4, 2013 [1 favorite]