LinkedIn Has Released Their New Salary Checker
LinkedIn has released their new salary checker tool where visitors are invited to discover their earning potential. There are many tools and industry-specific studies available and many companies spend thousands of dollars doing salary surveys on their own. This made us wonder, how does the LinkedIn Salary Checker compare?
At first glance, the salary checker is very straightforward. Simply enter a job title and a location, click the search button, and LinkedIn will return related results in the area defined.
In our first test, we entered ‘Director of Operations’ in the ‘Las Vegas, Nevada Area’
In this initial search, the tool was unable to pull up exact results. This was a little disappointing as the title is fairly common. The tool did, however, provide feedback for similar titles and also provided an opportunity to be notified if insights ever became available for the specific title that we entered. The tool also provided information on cities nearby. In this example, we also received feedback for titles in the Los Angeles area.
Not exactly what we were looking for and since the tool is new, we expect to see additional insights available in the future as the tool matures.
In our second test, we entered the title ‘Operations Manager’ since it was provided as a suggestion and searched in the Las Vegas area.
The results of this search provided more specific information, including salary range and medians. It also provides information on what a bonus might look like for someone with this job title.
Although this information was helpful, we understood that this information was very broad. Fortunately, the tool provides the ability to drill down based on industry and/or years of experience. Here is the list of industries that were available to us at the time of writing this blog:
And this is the list of options available for years of experience:
In our opinion, the options for years of experience seems adequate, however, the options for industries is lacking. For example, technology was missing from the list along with numerous other well-known industries. In Las Vegas, Hospitality is our largest industry and it didn’t appear on the list although Recreation & Travel gets us close.
Our Favorite Option
Our favorite option of this tool so far is the opportunity to provide salary feedback. While using the tool, we saw that the option to provide personal salary information is at the bottom of each page and we were also greeted with this pop-up:
We like this option because it means that LinkedIn will be collecting real salaries and will be able to make projection adjustments based on the feedback provided by its users. This will allow the information that the tool provides in its search results to be more accurate over time, which is always a good thing.
Since the LinkedIn Salary Checker is a brand new tool, it’s important to realize that the results will not be entirely accurate until additional feedback is provided by users. The more data they have, the more accurate their results will be. In addition, the feedback provided won’t be displayed anywhere and will simply be used to improve their tool long-term.
Do we think this is a useful tool? Yes. Do we think it’s better than other tools that are available? Not necessarily.
Our suggestion is to use this as ONE of the tools you use to research salary for a particular title and/or role. Look at various tools, review industry-specific studies, and most importantly, talk to people who are already working in the role. In addition to researching your specific title, search similar titles in both your area and in locations that best resemble your market. The more information you have to bring to the table, the better you will be at negotiating your raise or salary.
Let us know what your first impressions of the tool are by leaving a comment below.