A Pay survey or a Salary survey is typically conducted to gauge the organization’s compensation levels with respect to the external environment.
This helps in clearly defining the specific pay for each job.
Firstly a benchmark job is identified, the pay scale of the organization is positioned, and the relative worth of all the other jobs are established with respect to the benchmark job.
Pay surveys are usually conducted by a structured written Questionnaire. Telephonic surveys, Newspapers, Consultancy Firms, Pay check websites like NaukriPayCheck and Glassdoor.com can be sources of information as well.
Pay/Salary Surveys are analyses of compensation data. This data may include quantifyable aspects of compensation such as:
Salary Surveys may also include non-quantifyable aspects of compensation such as: