Glassdoor is thrilled to announce salary estimates in job listings! Here at Glassdoor, we’re all about transparency, and we believe that offering base salary estimates in job listings represents the next frontier – where there are many benefits for companies, employees and job seekers.
We know for a fact that job seekers want more salary information during their job search. This was confirmed in a Glassdoor survey, which found that nearly seven in ten (68%) people say that salary and compensation are among their top considerations before accepting a job.
By offering more pay information to job seekers in job listings, we’re also helping employers attract and recruit top talent on Glassdoor, as we believe this will drive more interest to your job listings on Glassdoor. And when job seekers self-select based on transparent salaries, they come into the job with clarity on what’s being asked of them and what they’re getting in return.
Learn more about salary estimates in job listings on Glassdoor, including how salary estimates are calculated and how employers can provide feedback.
Life Is What You Make It – Not What You Make
Words to live by! And while this truth is immutable, there’s another equally valid truth: we all need money to “make it.” So why is it still incredibly hard to really know if you are being paid fairly? Very few companies openly share pay data, and talking about pay remains largely taboo in our society – yet workers want and need more information.
By incorporating salary estimates into job listings, Glassdoor is helping job seekers get clearer expectations up front about not only what the job entails, but what fair pay may be in terms of base salary for open jobs. Job seekers demonstrated in a 2015 Employment Confidence Survey that they are willing to work for smaller pay raises if other benefits are strong. And because the many benefits of your company culture are showcased on Glassdoor, it’s more likely that job seekers looking for employment with your company will be thinking about the benefits and other intangibles that transcend salary.
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Our Robots Want You to Love Your Job
The Glassdoor salary estimates tool represents machine learning at its best – with smarter, more accurate information accumulating over time. We’re leveraging our vast user-generated salary database and proprietary algorithms to generate estimated salaries for select jobs when there is no user-provided salary report. These salary estimates use a statistical method that takes into account current and recent job listings over the past year, as well as user-generated salary reports for similar job titles at the company, its competitors and other employers within the local market. For now, salary estimates are generated for jobs in the U.S. that pay annual salaries and hourly rates. At this time, these estimates are not generated for commission-based jobs and/or variable-based compensation, such as bonuses, commissions, tips, stock, benefits or other components. But in the near future, we hope to increase our coverage of salary estimates in jobs. As more data becomes available, salary estimates will appear in more job listings as well.
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The Difference Between Salary Estimates and Know Your Worth™
Glassdoor’s Know Your Worth™ calculates an individual’s estimated value in today’s job market with the entry of a few personal characteristics – current job title, employer, current salary, location and years of relevant experience. An individual’s personalized market value instantly reveals the estimated base pay they could make in today’s job market to help them determine if they are being paid fairly, explore better paying jobs, and prepare for salary negotiations. Salary estimates in job listings are *not* personalized for the user, but are specific to a specific job title, employer and location.
The Power of Salary Estimates for Job Seekers and Employers
Each of us knows from experience that salary is an enormous deciding factor in taking a job, and we’ve confirmed through research that compensation is paramount in job decisions for most people. By offering salary estimates in job listings on Glassdoor, we help match job seekers with positions in which salary expectations can meet reality. Employers benefit by taking advantage of the enormous draw to Glassdoor, where companies can actively shape perceptions of their organization and the many benefits of working there, including salary and other tangible and intangible measures of coming to work for a company with a well-defined mission and company culture. This foray into the next phase of workplace transparency is a win-win for both job seekers and employers, placing people where they want to be for all the right reasons, which leads to better recruitment, productivity and retention – for a better bottom line.