Your employer would like your advice on appropriate
compensation for the job that you previously
selected and considered for consultation. Use the job
description that you prepared for this course as
the basis for this assignment.
Objectives:
• Obtain relevant pay data for the job from several sources.
• Display the pay data in a way that is useful for
comparison. (see form provided)
• Provide information about aspects of total compensation
for the position.
Assignment steps:
Identify several potential sources for pay data. For
example, the textbook mentions O*Net (from
the Department of Labor); salary.com is another useful
source.
1. Using the job description that you wrote, look for
comparable jobs in published pay
surveys (ones you identified for this assignment). Job
titles may not be identical, but the job
content should be similar (again, not always 100%
identical). Example: Your job title
might be Entry-Level Accountant. At another company, the
title might be Accountant 1.
Match up job content and experience.
2. Make sure that you identify at least three different
sources for comparative pay data.
Example: bls.com, IISE, Glassdoor.com, a company website,
and salary.com. [Caution:
Do not provide three different job titles from the same
source]
3. For each source of pay data, gather the following data
(or as much as you can obtain):
• Job title
• Indicate whether the form of pay data is presented as an
hourly rate, a weekly rate,
monthly rate, or annual.
• Minimum pay (or 10th percentile, or 25th percentile, or
whatever is provided—
indicate which percentile)
• Average and/or median pay (indicate which one)
• Maximum (on 90th percentile or 75th percentile, or
whatever is provided—indicate
which percentile)
• Source of the survey (what organization sponsored the
survey) and any addresses or
website address (and date you retrieved the data)
• Date when survey was conducted/data gathered
• Any information about other aspects of total compensation
such as benefits
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4. Job comparisons: in a separate paragraph, comment about
how similar or different the job
you found is from the one you wrote the job description.
Note if there are multiple levels
for the job; for example, you might find Engineer I,
Engineer II, Engineer III. In this case,
you have to figure out which one fits better.
5. Pay survey comments: in a separate paragraph and using a
chart (see suggested chart
below), comment on the similarities and differences in the
pay survey data from the three
sources you used.
6. Benefits options: lastly, after looking at a minimum of
two company websites (companies
that would have jobs such as the one you described), create
a list of potential employee
benefits that you might expect to find as part of a total
compensation package for the job.
Cite the sources used (required).
The following is a suggested format for displaying the pay
data:
Your Name:
Job Title from Job Description:
Job title from survey
Form of pay data (hourly, weekly, monthly, annual)
Minimum pay $
Percentile of minimum pay
Average or median pay $
Maximum pay $
Percentile of maximum pay
Source of pay data
Date of pay survey
Date you obtained the pay data
Any additional information about pay and/or benefits
Job Comparisons:
Pay Survey Comments:
Potential Employee Benefits Package:
Sources for Potential Employee Benefits:
Finally, cite your sources used in reference section, and
number them accordingly within the body
of your consulting report.
