Salary Calculators: Useful But Not Definitive
By Jeff Altman, The Big Game Hunter
Salary calculators can provide a helpful starting point, but they have limitations. This video shares 3 things to be aware of when using salary calculators to determine your market value, 
including reliance on self-reported data, inability to account for all variables, and quickly outdated information.
00:00 Intro
00:38 Self-reported data
01:18 There are many variables
01:45 Data becomes out of date quickly
02:17 Summary
02:54 An extra variable
Mindset Shifts for a Successful Salary Negotiation
Salary calculators can be useful tools to get a general idea of what you can make in a specific role or industry. However, it’s important to be aware of some limitations when using them to determine your market worth.
I’m Jeff Altman, The Big Game Hunter. People hire me for no BS job search advice, and career coaching globally, because I make the process so much easier for people. In this video, I’m going to share three things to keep in mind when using a calculator.
First, they rely heavily on self-reported data. Tools like Glassdoor and Salary.com gather data from people submitting information about their roles and salaries and companies, locations, and other details. But there’s no way to fully verify the accuracy of every submission. Take the salary ranges shown with a grain of salt because I think we know this. Sometimes people exaggerate, or as we like to, politely say, they lie! They want and look like they’re doing better than they really are.
Secondly, salary calculators can’t account for every variable that impacts pay. So factors like your specific skills and experience, company size, industry demand, competition cost of living differences, negotiating abilities, can all affect your potential salary. The ranges shown are broad averages, they may not reflect your precise situation.
Third, salary data can quickly become outdated. Market conditions, business needs and compensation trends can change quickly. Review the date of the reported salaries and make sure the calculator results you’re looking at align with the current state of the job market. Ranges from even one year ago may not be completely accurate, pertaining to what the pay is that companies are issuing for certain roles today.
So to sum up, salary calculators can be used as a jumping-off point but don’t overly rely upon them to determine your worth. Do your own research on current market rates, evaluate your skills and experience level compared to the available roles and use the salary ranges shown as part of an informed salary negotiation process. Check multiple calculators and aim for an above-average rate to one the one shown when negotiating salary.
And I also want to illustrate one variable–Large Company compensation versus small company compensation. Small to midsize business versus consulting. All of these pay differently, and you have to take that into account and not all calculators make that difference obvious.
So I hope you find this helpful. I’m Jeff Altman. My website is TheBigGameHunter.us Go to the blog there, go exploring. There’s going to be a lot there to help you. In addition, you can schedule time for a free discovery call schedule time for coaching, ask me questions through Trusted Advisor Services. I want to help. At the site, by the way, you can also find out about my video courses, books and guides. Like I said, there’s a lot there that will help you.
Lastly, connect with me on LinkedIn at linkedin.com/in/TheBigGameHunter Have a terrific day and be great!
Negotiating Begins in Your First Exchange With a Firm
ABOUT JEFF ALTMAN, THE BIG GAME HUNTER
People hire Jeff Altman, The Big Game Hunter to provide No BS Career Advice globally because he makes many things in peoples’ careers easier. Those things can involve job search,
hiring more effectively, managing and leading better, career transition, as well as advice about resolving workplace issues.
Schedule a discovery call at my website, www.TheBigGameHunter.us
He is the host of “No BS Job Search Advice Radio,” the #1 podcast in iTunes for job search with over 2700 episodes.
Website: https://www.TheBigGameHunter.us (schedule a paid coaching session, a free discovery call or ask questions using my Trusted Adviser Services)
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