Where does the information come from?
True Wage’s pay information comes from multiple reputable salary surveys. Because the salary tool aggregates available data-points in a statistically valid way, the overall results does not reflect any particular survey product. By combining results from different sources, True Wage is able to present the most accurate picture for a particular job by leveraging large sample sizes.
In addition, unlike most free salary data tools on the internet that rely exclusively on self-reported data from employees, True Wage’s tool has the advantage of using data from employers – who are much more likely to report information accurately and consistently. That is how True Wage is able to identify job levels while other tools can only report data for a broad class of job, which may include a very wide range of experience and skill levels.[/expand]
How do I know the information is accurate?
True Wage was created based on the knowledge of compensation consultants with years of experience in collecting and interpreting market data. No data is used by True Wage unless it has been vetted as accurate.
Core to True Wage’s beliefs is that having multiple data sources means a better result. Compare our results to the results of any other national salary survey and see if we’re close. If we’re not, please let us know, and we’ll help you figure out why there may be differences.
How often is the data refreshed?
The information in the True Wage is refreshed automatically on a monthly basis, usually close to the last Tuesday of each month. The update is intended to:
- Incorporate any new salary survey data sources that have been linked to one of True Wage’s benchmark jobs
- Age the existing data by looking at how labor markets have changed since the last update in order to keep it current
By consistently updating data, True Wage is able to offer the most accurate set of salary data-points on the internet.
Can I find information for specific industries or locations?
Unfortunately, True Wage’s free salary tool only offers information about the most common benchmark jobs at a national level. While helpful for general guidance, that kind of information should not be used in isolation to make compensation decisions.
In order to access results cut out by organization size, revenue, location, industry, etc., you will need to request that kind of product by letting us know what you need. After receiving your initial data request, we will follow up to let you know how much that request will cost to prepare. Depending on the request, we may also provide consultation on how to interpret and apply the results to your organization specifically.