DEFINITION

 It is a means of obtaining detailed data

regarding what other firms are paying for
specific jobs or job classes within a given labor
market.
 Surveys: - Gather & summarize information for
monitoring movement & developments in labor
'market'
-Provide a means for comparison of salaries
within the institution
 It may be purchased, outsourced to consulting
firm or be conducted by the organization itself.
 Objectives Of Survey
 To gather information regarding the industry
standards and know more about the market
rate i.e. compensation offered by the
competitors

 To design a fair compensation system

 To design and implement most competitive

reward strategies

 To benchmark the compensation strategies

 The Purpose Of A Survey
 To adjust the pay level in response to the
changing rates paid by the competitors.

 To establish or price its pay structure.

 To analyze pay-related problems.

 To estimate the labor costs of product/service

market competitors.
 Types Of Data Gathered
 Base salaries

 Salary Ranges

 Starting Salary

 Incentives/Bonuses

 Allowances and Benefits

 Working Hour & Conditions

 Sources of Data
 General national & regional published surveys
 Management Consultant Databases
 Sector Surveys
 Industrial Surveys
 Occupational Surveys
 Pay Club Surveys
 Published Data in Journals
 Job advertisements
 Recruitment Consultants and Agencies
Types of Compensation
Surveys
 Designing The Survey
 Who should be involved in the survey design
- it should be outsourced to external consulting
firm or purchased from it
- Or organization should conduct itself

 How many employers should be included

- no. of organizations to be included in the
survey.
- In case of less number of players in the
industry less number of participitants
Cont….
 Which jobs should be included
-(benchmark approach,
- low-high approach or
- benchmark conversion approach

 What information to be collected

- about the nature of organization
- about total compensation system
- specific pay data on each incumbent in the
jobs under study
 Factors Affecting the Quality Of
Survey Data
 Job Matching- Basic aim is to compare like with
the like, as far as possible
- Matching by Job title
- A brief description of duties & levels of
responsibility
- Capsule job Descriptions
- Complete job description
- Job Evaluation
 Timing of Surveys
 Pay increases over time
 Presenting The Data
 After data collection, it has to be presented in
meaningful form to make analysis possible.
 Measures of Location (Mean, Mode, Median) -
 Measures of Dispersion
- range
- upper, lower & inter quartile
- upper & lower decile
 Statistical Presentation
 Graphical Presentation
 Organizations Conducting
Salary Surveys
 Job Star Salary Surveys ...originally established
for the California job seeker, this site has the
largest collection of salary surveys online
anywhere.
 salary.com ...much more than just salary
resources, this site is dedicated to not only
salaries but total compensation.
 Job Search Intelligence ...provides statistically
defensible compensation data to Job Seekers,
Employers, and persons with an interest in
precise compensation values.
Cont……
 Economic Research Institute (ERI)

 Abbott, Langer & Associates

 Bureau of Labor Statistics

 Occupational Employment Statistics

 SalariesReview.com
 Organizations Conducting
Salary Surveys in India
 Hewitt Associates – Gurgaon
 Paycheck.in- IIM, Ahmedabad
 Wealth Tree Advisors Pvt. Ltd.
Mumbai
 E value serve
 Pay Scale India
 Some Of Recent Studies
In India
 Compensation Synopsis Study - Electronics &
Telecom industry
 Position Compensation - CEO: Asia -
Outsourcing industry
 Position Compensation - Country Manager
 Position Compensation Benchmarking - CEO -
Auto Components
 Compensation Synopsis Study - Business
Process Outsourcing / Call centers