Techniques For Benchmarking Salaries Against Competitors

"How much are they really paying for this role?" I asked my client after she discovered her peer was making $180K more for the same job. "I checked Glassdoor," she said. "It showed I was in range." Here's the truth: Glassdoor is where executive compensation goes to die. After 25+ years in financial services and now coaching executives through comp negotiations, I'll share what actually works for getting real market data. Because knowing your worth isn't optional. It's oxygen. 𝗧𝗵𝗲 𝗦𝗼𝘂𝗿𝗰𝗲𝘀 𝗧𝗵𝗮𝘁 𝗔𝗰𝘁𝘂𝗮𝗹𝗹𝘆 𝗠𝗮𝘁𝘁𝗲𝗿: 𝟭. 𝗘𝘅𝗲𝗰𝘂𝘁𝗶𝘃𝗲 𝗦𝗲𝗮𝗿𝗰𝗵 𝗙𝗶𝗿𝗺𝘀 Build relationships with 2-3 specialized recruiters. Not when you need them. Now. They see real offers daily. They know who's paying what. "Based on your profile, I'm seeing MD roles at $450-500K base plus 80-100% bonus." That's data you can bank on. 𝟮. 𝗦𝘁𝗿𝗮𝘁𝗲𝗴𝗶𝗰 𝗜𝗻𝘁𝗲𝗿𝘃𝗶𝗲𝘄𝘀 Take 3-4 interviews annually. Not to leave. To learn. When they ask salary expectations: "I'm looking for market rate. What range did you have budgeted for this role?" They'll tell you. They always do. Document everything. Build your data set. 𝟯. 𝗬𝗼𝘂𝗿 𝗡𝗲𝘁𝘄𝗼𝗿𝗸 Never: "What do you make?" Always: "I'm benchmarking Senior MD comp in financial services. What ranges are you seeing in the market?" Former colleagues who've recently moved? Gold mines. People talk more freely about "market rates" than personal numbers. 𝟰. 𝗣𝗿𝗼𝗳𝗲𝘀𝘀𝗶𝗼𝗻𝗮𝗹 𝗔𝘀𝘀𝗼𝗰𝗶𝗮𝘁𝗶𝗼𝗻𝘀 CFA Institute, AFP, your industry's association - many conduct annual salary surveys. Members often get free access. Non-members might pay $200-500. Less precise than consultants, but directionally accurate. 𝟱. 𝗛𝗥 𝗟𝗲𝗮𝗱𝗲𝗿𝘀 & 𝗜𝗻𝘁𝗲𝗿𝗻𝗮𝗹 𝗥𝗲𝗰𝗿𝘂𝗶𝘁𝗲𝗿𝘀 Know any? They see comp data across companies. Frame it as market research, not gossip: "I'm trying to understand current market dynamics for senior roles. What are you seeing?" 𝟲. 𝗖𝗼𝗺𝗽𝗲𝗻𝘀𝗮𝘁𝗶𝗼𝗻 𝗖𝗼𝗻𝘀𝘂𝗹𝘁𝗮𝗻𝘁𝘀 McLagan for financial services. Radford for tech. Willis Towers Watson for broader markets. Yes, reports cost $1,500-6,000. But one negotiation pays that back 10x+. Can't afford it? Split the cost with peers. Worth every penny when you're leaving $100K+ on the table. 𝗧𝗵𝗲 𝗣𝗿𝗼 𝗠𝗼𝘃𝗲: Triangulate. Never rely on one source. If recruiters say $400-450K, interviews confirm $425-475K, and McLagan shows $430K median? You've got your number. Stop guessing. Start knowing. Because you can't negotiate what you don't know. 🎯 What's your go-to source for real comp data? Share below - let's build a resource for everyone. ------------ ♻️ Share with an executive who's still using Glassdoor for serious negotiations ➕ Follow Courtney Intersimone for more truth about commanding your worth

Where to Find Pay Data Here are 11 types of compensation data sources commonly used for benchmarking and pay decisions: 1. Third-Party Salary Surveys – Published reports from firms like Mercer, Willis Towers Watson (WTW), Korn Ferry, Culpepper, Pearl Meyer, and AON Radford provide market pay data by industry, geography, employer size, and job level. 2. Multiple Survey Aggregators - Salary.com purchases the most current salary surveys available from well-recognized, reputable compensation consulting firms. Then they aggregate it into a large database. 3. Government Data – Sources like the U.S. Bureau of Labor Statistics (BLS) and Canada’s Job Bank and Statistics Canada provide free, broad-based salary data. 4. Crowdsourced Data – Platforms like Glassdoor, Payscale, and LinkedIn Salary collect self-reported pay data from employees, though reliability varies. 5. Company-Specific Data – Some employers summarize pay expectations from candidates and employee exit interviews to build their own compensation database. 6. Job Posting Data Aggregators – Many job postings now have pay ranges that provide insights into how an organization pays compared to the market.  Some employers manually summarize this data, but there is software available that does this for you. Squirrel was developed by CompTool. It offers real-time wage and salary tracking using employer-reported data from job postings. 7. Peer Network Data – Custom surveys designed and administered by a third party that help companies in an industry gather compensation insights for niche roles. 8. Publicly Available Compensation Disclosures – For publicly traded companies, executive and senior management pay data can be found in SEC filings (Proxy Statements and 10-Ks). Websites like Equilar compile this data for benchmarking. 9. Union Contracts & Collective Bargaining Agreements (CBAs) – Many industries with unionized workforces have publicly available agreements that outline pay structures, step progressions, and benefits, which can be useful for benchmarking. 10. Cost of Living & Geographic Pay Differential Data – Providers like The Economic Research Institute (ERI), The Conference Board, and Numbeo offer data on regional cost-of-living adjustments and location-based pay differentials to help companies set competitive wages in different markets. 11. Consultant & Industry Association Reports – Many industry associations (e.g., SHRM, WorldatWork, National Association of Manufacturers) and specialized consulting firms publish compensation trend reports, pay practice studies, and total rewards insights that can be useful for market comparisons. What sources would you add to this list? https://shorturl.at/tGDID #marketdata #jobpostings #pay #compensation #hr #humanresources #payequity #paytransparency #fairpay #compensationconsultant