LinkedIn launches new salary tool

  | James Innes

Last week, professional networking site LinkedIn launched a new crowd-funded salary feature, known as LinkedIn Salary.

The tool will enable its 460 million plus users to confidentially share data on salary patterns, bonus decisions and other remuneration-related information, such as years of experience, industry, company size, location and education level.

LinkedIn salary is available to all members on desktop, mobile and app in the US, Canada and the UK, with a worldwide rollout planned for 2017. The company, with an eye to concerns about data security, have promised that once somebody enters their salary details into the database, that it is immediately encrypted and will remain private.

Some of the highlighted features of the new tool include:

Detailed Analysis: For a given job title, Salary will show the entire salary structure, bonus details and stock options;

Top paying locations. This helps identify which locations pay the most for  specific jobs, as well as showing the number of job openings there;

Educational Requirements: Search provides insights into which educational requirements matter so that somebody considering furthering their education can better assess the importance, for example, of a master’s versus a bachelor degree;

Top-Paying Industries. The tool helps identify which industries pay the most for a particular job title. For example, healthcare is regarded as the best payer for sales representatives.

View salaries for top companies: Members can “Follow” a company in which they are interested, learn about their compensation packages, and job openings.

Understand how company size affects pay rates: Members can view how pay rates differ for job titles based on company size; and

Know what salary to get based on experience: Search gives details on how salary is likely to change based on current and future experience in the field.

LinkedIn said: we hope to give professionals around the world access to salary data we can trust, so they can make more informed decisions on where to work, what to learn, and how to evolve their careers.”


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