In the field of compensation, professionals rely on data to determine appropriate wages for individuals in their organization.
While compensation researchers genuinely work to provide accurate information, there remain inherent strengths and weaknesses to different methods of collecting, interpreting, and reporting data.
Compensation professionals who understand these strengths and weaknesses are better equipped to analyze the results for use in determining pay, setting salary structures, and evaluating established compensation systems.
For the purposes of this white paper, we will highlight the pros and cons of three methodologies, all of which utilize employer-provided data: surveys from national statistics offices, traditional salary surveys, and salary survey analytics.
Depending on your compensation data needs, there are plenty of options available. Nevertheless, each source of salary survey data uses different methodologies that have inherent strengths and weaknesses.
