Posted on October 30, 2020
What is a Salary Calculator
A salary calculator helps determine the median pay range for a particular position in a certain regional area. This tool can be extremely beneficial when considering a career choice or next employment move. There are many types of salary calculators, and many ways in which they can be used to help workers determine whether they are being paid fairly.
The most basic salary calculators simply calculate average income based on job title and location. Users need only enter their job title and their city, and the salary calculator will use the information in its database for all salaries of workers holding similar job titles in the nearest city. A school secretary living in Annapolis, Maryland, might see an average calculated from all school secretaries in her town. More often, the average will be more general: all administrative assistants working in Annapolis, Baltimore, and Washington, D.C., for example. While these are not the most accurate calculators, they are adequate for giving a worker a rough estimate of how close his or her salary is to the average.
More specific salary calculators offer a wider variety of functions. Many have surveys in which the user inputs specific information about his or her job, and the calculator makes more specific matches. A few of the factors addressed in a typical survey include:
-Time with the company: A floor manager who worked his way up the company over a long period of time, beginning as a laborer, may earn more than a floor manager who was hired directly out of college and has little experience.
-Years of experience: A factory worker who has been managing factories for 20 years will likely be earning a higher pay than one who has only been in the position for 5 years.
–Education: A college graduate is typically going to earn more than a person who has only earned a GED.
-Shift: People who are willing to work night shifts often get paid more than workers performing the same position during the day.
-Performance: If you have a history of coming in late, turning in bad work, or simply performing below average, your salary will be below average.
By answering these survey questions and providing a more detailed description of your job and responsibilities, you can ensure a more accurate salary estimate. The estimate is calculated from the database in which others have submitted the same information, and your information will be used to help determine averages for future users of the salary calculator.
Despite how fair your salary is according to a salary calculator, it is inadvisable to make any decisions based purely on the findings of a salary calculator. There may be a simple explanation as to why your salary is below the average, and if you talk to your superior about your concerns, you may get a raise. Do not simply quit your job in the hopes of finding one that pays better, because you will likely end up doing more harm than good.
For more information about salary calculators or to find out about job possibilities near you, search for an online salary calculator or contact Symphony Placements today.