Benchmarking Salary Information

Reader Question: My management team wants to knBusinessperson With Stack Of Coinsow how much of a salary increase other local companies are going to be giving to their employees this January. What’s the best way to secure that information?

– Manager of Marketing, Web Development Firm

While there certainly are some great Salary Surveys out there and available for purchase, many times the most valid and relevant data is tied to companies within your industry and within your regional area. That data rarely shows itself in a meaningful way in a typical survey, is tougher to find and can be very expensive. Good old fashioned networking with other local businesses on their salary plans will go a long way, offering to share what you learn in exchange for their participation. If your network is weak find a resource that is better connected.