The Salary Estimator is an AI-driven reporting tool for both recruiters and HR. It leverages data points from the millions of jobs managed through Workable to provide up-to-date salary insights tailored to your specific job requirements. This tool will help you:
- Ensure your budgeting is realistic and in line with market trends while you stay competitive.
- Plan your hiring strategy and budget for the year.
- Stay compliant: Many US states require salary information to be visible on job posts.
Purchasing the Salary Estimator
If you're interested in the Salary Estimator tool, which compares salary ranges for similar job titles and locations, you can contact our sales team to learn more. Currently, it is only available in the UK and the US.
Under the Reports section, click the Salary estimator link on the right and then the “Contact us” button. Once you do that, you will receive an automated email with details about the feature, and our sales team will contact you.
Using the Salary Estimator
Once purchased, Super Admins can access the Salary Estimator:
- In the Report Center
- When creating a job
- When creating a requisition (with Hiring Plan)
Report Center
Find salary estimates by searching for a job title and location.
- Under the Reports section, click the Salary estimator link on the right side of the page to open a modal and run your salary searches.
- Enter a job title; you can also include a seniority level in the title, like "Senior Software Engineer"
- Enter the job location (it must be in the UK or US); get granular with a specific town or stay. broad with a state or country (the search will widen if there are no results for a specific location).
- Click Search to run your salary search.
The Salary estimator identifies the average salary and shows what would be below or above average. If your search is more generic and there are results for different seniority levels, you can switch through them, and the salary stats and graphs will update accordingly.
Job creation
When creating a job, add your job title and location as you would normally do. In the salary area of the job editor, the Salary estimator will populate on the right side displaying the results for all the inferred seniorities (based on the job title), one row for each seniority
Click it to see the average range for the specific job details you entered.
Requisition creation
When creating a requisition, add your requisition details as you would normally do. In the Salary range field of the requisition form, the Salary estimator will populate on the right side. Please note that:
- If the requisition is created for a new job, we will take into account the Requisition Location field.
- If the requisition is created for an existing job, we will take into account the location of the associated job.
Insight generation algorithm
Data Utilization
Our salary estimations are derived from salary data collected from job postings (not including requisition) via Workable within the last year. This approach ensures our AI operates with data that is both representative of our customers' needs and current with the latest salary trends.
Generating Salary Ranges
When a job title and location are provided:
- Using the Job Title, and Location, our AI identifies similar job postings and uses this information to calculate salary quantiles for all seniorities that are either exact match or relevant to the seniority that may be included in the Job Title.
- From these quantiles, three distinct salary ranges are derived:
- Below Average: Indicates a salary range that may not be competitive but is still a valid option.
- Average: Essentially the most popular salary range, accounting for 50% of the job postings.
- Above Average: Indicates a salary range that stands out in comparison to the market salaries.
The above ranges are only calculated when the data are sufficient and relevant; otherwise, we choose not to return anything, ensuring the quality of estimations over coverage.
FAQs
- Is there a limit on the number of salary estimator searches we can perform?
- No, there is no limit on the number of salary estimator searches.
- What will happen if there are no results for salary estimates?
- If there are no results for the selected job title, seniority and location, the Salary estimator button will become inactive with the following message. In this case, you could try another job title or a broader location.