Determining a New Employee’s Base Pay
April 16, 2014
When I make a new job offer, what is the best way to determine the new employee’s base pay?
– Controller, Retail Company
There are several ways to source this kind of data. Three places we recommend to look are:
1. Job Boards – What other companies are paying is typically found on these sites.
2. Headhunters – Asking your local employment agency is a great way to learn more about the competitive landscape.
3. Look at the resumes – The salary data you see before you in the resumes, that come in response to your ad, can tell you a lot about the market at hand.
Using a combination of the above will yield a well rounded set of benchmarking data.
