When it comes time to hire for a position, where do you get your pay range from? I use the trusted source of Robert Half's salary guide, which I've found to be helpful in getting ranges. I'm helping with a project to determine salary ranges for positions being hired for. There seems to be an issue over titles, as in I want to title someone different than the hiring manager. Keep in mind, I work in
How much do Controllers make? How much do Accountants make?
Answers
Hi Chris,
I would say most hiring managers start with the immediate business need(s) they want to address, scope in duties as you say, and then compare that vs. the marketplace and title accordingly. Triangulation to the role instead of a strict definition starting with a title if that makes sense at all.
In the case where you want to title something differently than the hiring manager, is it inside the realm of accounting or something completely unrelated? If they are the direct line manager, control the job responsibilities and the budget, seems like they should be able to land on a reasonable title.
Is it a non-finance person doing it for finance dept?
With regards to pay, it usually comes from step A above when you investigate the marketplace. Surveys can be helpful, but very often positions are posted in the local market with salary ranges and you've got your own budgetary constraints that influence how various positions are defined (you can do hiring in the future but need someone for xyz now instead of trying to put everything ideal in one role).
Came across this company though I have never used them. https://www.advanced-hr.com/
Bet there are others,
Ken
As far as salary guides go, your best bet is talk with peers, look at the help wanted to get a feel of what like-kind companies are paying, talk w/
The Robert Half guides, Salary.com guides and others sometime agree (+/-) or are totally in disagreement between them. They are another yardstick.
Lastly if you are looking to change locales, check out the cost of living indexes to gauge where your present salary would situate you. A lower cost of living along with a lower salary may not be a step back, but could be an improvement (lower COL, lower taxes, etc.).
In addition to those resources mentioned (Robert Half, salary.com), I often look at Craigslist, Indeed, Monster, etc., to see what others are paying. It allows me to compare job duties, and as Ken said, see what the market is offering. The market is what really drives the range, as I'm competing for talent vs other companies.