Exploring Salary Market Research for Tech Recruiting
As a new Tech Recruiter, I’ve been tasked with conducting extensive market research on salaries without directly reaching out to candidates. With the rising costs of LinkedIn licenses, this approach is often more efficient in terms of both speed and resources.
To navigate this challenge, I’ve turned to platforms like Glassdoor and Jobicy to gauge salary ranges for various roles. However, I’ve found that much of the data is either poorly validated or difficult to interpret.
Given this context, I’m looking for effective strategies to conduct reliable salary market research.
Are there specific tools, software, or resources that could help streamline this process?
Thank you!
RCadmin
Conducting effective salary market research for tech recruiting can indeed be challenging, especially when relying on publicly available data. Here are several strategies and resources you can use to enhance your research:
Industry Reports: Look for salary surveys and industry reports published by reputable organizations. Sites like the Robert Half Technology Salary Guide or PayScale offer detailed insights into industry salary trends and benchmarks.
Professional Organizations: Check resources from industry associations such as the IEEE or ACM, which often conduct salary surveys among their members and publish findings.
Salary Comparison Tools: Utilize tools like Levels.fyi, which provides detailed compensation data for tech roles across different companies. This can be particularly useful for comparing specific positions and understanding equity components as well.
Networking: Engage with peers in the industry via forums, webinars, or meetups. Platforms like Slack groups or Reddit can provide insights from professionals who may share their experiences or benchmark data.
Job Boards: Look for data on job boards like Indeed, Monster, and others where companies often post salary ranges in job listings. This can give you up-to-date information about what employers are offering.
Glassdoor: While you’ve mentioned using Glassdoor, try to leverage their features more actively. Reading employee reviews can sometimes provide context around compensation, and filtering by job title and location can yield more relevant data.
Economic Reports: Check government resources such as the Bureau of Labor Statistics (BLS) for regional salary data and insights into job growth within the tech sector.
Compensation Databases: Consider investing in a subscription to a salary benchmarking tool like Radford or Comptryx, which offer comprehensive compensation databases tailored to specific industries.
Company Websites: Explore the careers section of competitor company websites to glean insight into their job listings and any posted salary ranges.
Social Media Channels: Platforms like Twitter or LinkedIn often feature discussions around salary benchmarks. Following industry leaders or groups can prompt useful insights.
By combining various data sources and tools, you can build a more comprehensive view of the market salary trends for tech positions. Remember to ensure that you’re considering adjustments based on factors such as location, experience level, and company size to achieve the most accurate benchmarking. Good luck with your research!