Comment by october8140
5 months ago
It’s new so the government hasn’t caught on yet. They probably also need a larger market share to be considered fixing.
5 months ago
It’s new so the government hasn’t caught on yet. They probably also need a larger market share to be considered fixing.
ADP has a product called compensation benchmarking which is very similar to how this is described.
They’ve had that product (with various names) for years.
Experian also sells a similar product
No, this is not new. There are many many many companies selling compensation metrics. This is also not salary fixing. These companies typically do not offer recommendations. It's up to each individual company to decide how to structure their salary bands and how they want to stack up to the market.
I actually run a product in this space in Europe as part of my portfolio. To echo your recommendation point; How we do it is pretty much the industry works. We give the low, mid, and high points in our data set based on what variables you input. We get the data from salary surveys and government data sets.
It’s all very boring and above board.
If companies choose to talk to each other to suppress salaries, they’re not using our tooling to do it.
There are also firms that will do all this work for you especially if you lack enough people in your own offices for an internal benchmark. If you’re building a CAD tool you can tell them (paraphrasing) to pretend you’re just like Autodesk and ask how much you should pay a UI designer.
What is the name of your European product, and is that data solely available to employers?