Free salary information can help you get an edge in compensation negotiations with candidates. Although employers usually try to keep a tight lid on salary information, times have changed, bringing forth a variety of free sources for compensation information. Whatever your pay philosophy, it makes sense to keep on top of salary trends.
How to find free salary information
1. Check professional associations for salary surveys
2. Find out if you can gain access to research firm salary survey results in exchange for sharing information with the researchers
3. Search for similar job postings that start salary ranges
4. If you hire graduates from specific post-secondary programs, check the school for surveys and statistics on the salaries of alumni.
5. Look up salary reports with the BCJobs.ca Salary Wizard. Then take a look at other online resources, such as:
• Job Futures – look under Average Earnings of Graduates.
• BC Work Futures
• Alberta Wage and Salary Info
• Government of Canada’s Labour Market Information
• Salary Expert – basic report is free
• Economic Research Institute’s list of salary surveys
• Charity Village’s non-profit salary resources
Before settling on a salary range, carefully weigh the job description, benefits, work environment, market demand and each employee’s unique skillset. Be sure to include benefits, company culture, employer branding, employee empowerment and other recruitment and retention strategies in building your offer. Although compensation will form part of any employee’s decision, many candidates will be swayed by the big picture, not just a pay cheque.salary negotiation