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Do You Earn What You're Worth? Glassdoor's New Salary Tool Can Answer That Question for You

Do You Earn What You're Worth? Glassdoor's New Salary Tool Can Answer That Question for You
From Recruiter - October 25, 2016

The Internet is littered with salary toolsand most of them are pretty bad.Salary tools are often too broad. They can give you a general approximation of what someone in your rolecanearn, but many of themare woefully inept when it comes to accounting for additional complicating factors like years of experience, location, and industry.

EnterGlassdoor.Through a survey conducted with the help ofHarris Poll,the companyfound that a lot of people were looking formoreaccurate salary tools. Some key results of the survey:

- 65 percent of respondents said they wish they had a better understanding of what they should be making.

- 73 percent said they would negotiate their salaries if they knew there was a discrepancy.

- 78 percent said they wish there were a tool that could easily tell them what they were worth.

And so, Glassdoor madeKnow Your Worth, a personal salary estimator that uses a machine learning algorithm to help professionals find out just how much theyre worth in the market.

Because weve gathered a huge database of knowledge, were able to make predictions about the market, and the more we research salaries, the smarter we can get about what people should be paid, explains Lisa Holden, employer communications manager at Glassdoor. We realized we had this wealth of data about what people reported they were making, and wehad that paired with the jobs that are available in the U.S. We know who our users are, where they work, and how many years of experience they have. If we combine all that, we can get really smart about how much they could be making or should be making.

How It Works

Its simple, really: You enter your employers name, your location, your title, years of experience, and base salary, and Glassdoor uses relevant salaries reported on Glassdoor and the salaries of open jobs in the market to calculate your market value. From there, you can see how youre doing compared to similar professionals in the market and a list of open jobs that might interest youyou know, in case you find that you might be able to make more elsewhere.

You also have the option to share information about your age, gender, and level of education. Its not required, and it doesnt factor into your market value, but Glassdoorhopes to collect user data on these fronts in order to explore potential wage discrepancies in the market at a macro level.



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