When you compare the Marketing Assistant I and Marketing Assistant II jobs using our Salary Wizard, the first thing you'll notice is that the median base salary for a Marketing Assistant I is $42,019, whereas the median base salary for a Marketing Assistant II is $47,437. Once we've found our job match, we'll discuss how to perform a salary comparison with the market, as well as the data sources you can use to market price our job.įinally, we'll look inside our organization to assess where our job falls within our job worth hierarchy and internal pay structures based on what we now know about our job match and price. While we're looking at the pay for two different jobs in our example below, the salary comparison process is similar when you're comparing the pay for the same job across different data sources. This exercise will help us determine the right job match for an internal position we're trying to price. As we'll only be using one source of market data for this pay comparison, we'll be focusing on why these jobs are different - and therefore why their pay is different as well. In the example below, we'll be comparing two similar positions, Marketing Assistant I and Marketing Assistant II, which fall into the same job family, function, and focus within our taxonomy. Using a salary comparison tool, such as our Salary Wizard, can help you streamline the salary comparison process as you begin to look out to market. Comparing Salaries Is About More than Just Pay The steps below outline how to properly compare the pay for two positions, using data from our free Salary Wizard. Whether you're hiring for a new position, planning for annual salary increases, or giving an employee a well-deserved promotion, salary comparisons can help you ensure your pay remains externally competitive and internally equitable. Tools like salary structures, which make it easy to compare the pay for multiple jobs within your organization simultaneously, can help you quickly spot potential issues - whether you're comparing pay within your organization or out to market. Internal salary comparisons, on the other hand, can help you assess if you have any potential issues with pay inequities or salary compression. Whether you use data from traditional salary surveys or an aggregated source of pay data like CompAnalyst Market Data, comparing pay rates in the market can help you assess the going rates for similar roles at other companies. Performing a salary comparison using HR-reported market data is a critical step in the market pricing process. While many pay comparisons focus on the base salary, they can also include other pay elements as well, including bonuses and incentive pay vehicles. A salary comparison, also known as a wage comparison or pay comparison, is a comparison of the pay for two or more positions, either within your organization or outside of it.
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