16 Dec Annual Salary Guide: What are They and How to Use Them?
In the professional world, it’s important to know if you’re getting paid what you deserve in your current role. You may find yourself asking certain questions like: How much should I expect to earn per year? How do I find out what I’m worth? Where can I find information about salaries? These questions are common ones for anyone looking to enter into a certain field of work or advance their career. A salary guide allows you to view the compensation for your given role, but also for positions that you may see yourself in for the future.
Salaries vary widely depending on where you live, your skillset, and your experience level. Other variables include the company you are working for and what industry you work in.
There are many sites on the internet that will show average salaries for cities across the country including Glassdoor and Payscale, but they sometimes require payment or membership to view certain aspects of the salary range. Many companies will release an annual salary guide with updated numbers and projections for salaries based on the current market. These are great resources for new job seekers, professionals looking to get promoted, or those who are looking to make a change. In this article, you’ll learn more about why salary guides are important and where you can find a quality salary guide to help you make an informed decision when reviewing your options.
What is a Salary Guide?
By definition, a salary guide is a tool, used mainly by hiring managers, to create and maintain competitive compensation packages for their employees and prospective employees. While they are a fantastic tool for employers to use, they are an excellent resource for job seekers to determine their market value when they go to negotiate their starting salary.
Content in the guide includes up-to-date information on starting salaries based on years of experience and skill level. These figures are based on historical averages, market trends, location, and the industry.
How to Use a Salary Guide
Salary guides can be a great tool to use for job seekers during their job search and for managers looking to improve their employee compensation strategy for the upcoming year. It allows for comparison of current roles to similar positions. For job seekers, compare your current salary with the median salary of similar positions and come up with a competitive salary range that you feel comfortable with when going into your salary negotiation. Finding a recruiter to offer additional feedback on your research is always a good idea, as they will have a better insight and track into what their clients are offering in your role or department.
What Do I Look for In a Salary Guide?
When you find a salary guide to use, you want it to be as specific as possible to the role you are working in/want to work in, as well as the industry you are working in/want to work in. For human resources managers looking to update their compensation packages, it’s important to find guides within your industry that feature a variety of roles, including ones for management and leadership, as well as figures for different locations around the country to get a better idea of what positions are making in your region. Finding a guide that is specific to your location, role, and industry is the best way to make a knowledgeable comparison and ensure that you’re getting the most competitive salary in your field.
Where to Find the Best Salary Guides for 2023
Here are some of the best places to find salary guides and information on average salaries for 2023!
Every year, Scion Staffing releases their annual salary guides that feature guides for specific industries! The numbers and figures that are presented in the content are accurate and concise with the current labor market, based on location, skill level, and role. Scion created guides for corporate roles, the tech industry, the nonprofit sector, nonprofit and corporate leadership, creative and marketing roles, and the medical industry.
Glassdoor offers salary information for a wide variety of roles and includes information on company reviews, job descriptions, and salary information from current and former employees. Their information does require to have a profile with the website in order to view salary information, reviews, and other features.
One of the biggest online job boards on available to job seekers and employers, Indeed also features a salary guide available for those looking for jobs and those who are hiring. With their guide, users can choose a location, job title, skills, or keyword and receive information that includes pay based on experience level, benefits, and the companies that are the best match for that job.
LinkedIn has always been a great resource for employers and job seekers, but did you know they also feature their own salary tool? The tool offers wage data based on the site’s users and is a great resource for those looking for reliable information on pay.
Payscale is a website with a large database of salary information based on job titles, industry, and location. They crowdsourced their data from employees and have up-to-date numbers from 2000 companies in over 100 different industries.
Do You Need a Salary Guide for 2023?
Scion Staffing’s 2023 salary guides are here and if you want to get the most reliable and current salary information for your industry, contact our team today and request one! Scion Staffing is your expert on everything staffing and with our help, you can attract and retain top talent for your company, or we can help you find the right candidate for your open roles! Looking for a job? Our award-winning recruiting team can help you find the perfect role for you and with a company that offers competitive wages and benefits! To learn more, visit our website to get started today!