Be sure to not over emphasize the years of experience in the job description as the primary element on which you base your market pricing match decision.
The elements that should be considered when market pricing include:
· The level of the job’s responsibilities – example: entry, intermediate, senior, or expert if the job is an individual contributor role.
· The reporting hierarchy – Does the job report to a supervisor, manager, director, or VP?
· The education, training, and/or certification requirements.
· The years of relevant experience required.
I keep having conversations with business leaders who want to base the market pricing match decision on:
1. a job title (our job is a VP, and you chose a Director level match, that’s not right) or
2. the years of experience (our job requires 10 years of experience, and you chose 5 or more years of experience, that isn’t right).
I tend to consider the job’s level of responsibilities and reporting hierarchy more than years of experience and education.
I try to ignore the job title because I know they can be misaligned with the level of work being performed.
Please tell me I’m not alone in having to explain that years of experience and job title aren’t the most accurate way to select a match in a salary survey.
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