In this week's class we looked at PayScale and learned about pulling reports from this site to see what certain positions are making in certain locations. The thing about this site, our teacher mentioned, was that all data (titles and the corresponding compensation) were self-reported. So we were cautioned to take it with a grain of salt and know that some people may have inflated their titles.
At work, someone had suggested to HR that we use PayScale, but it was shot down due to the self-reported aspect of it. Old school compensation people tend to distrust anything self-reported. Instead, we use Radford. Companies have to report in all of their job titles, leveling them to existing job titles in a database, and report their compensation so that they can get data.
At work I attended a compensation presentation that told us that titles are linked to compensation. A lot of time people think they can give people a new title to make them happy, regardless of what their duties and pay are. But out in the world, apparently, what your title is will definitely correspond to the compensation you should be receiving.
I'm curious to hear about what classmates' experience with compensation leveling is!
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