LinkedIn Launches New Salary Calculator
Time to sack up and ask your boss for a raise because you're probably worth more than you think.
LinkedIn just launched a new salary calculator based on real people and real money.
The system is as simple as punching in your industry, role and location.
Best part? It's completely free to use -- all you need to do is share your salary anonymously. Premium members do not need to do this to have access.
The tool was rolled out as part of the firm's vision to build what it's calling an "economic graph."
Ultimately, the staff hopes the immense pile of data collected will hone down exactly what qualifications and skills you need to be an employee of a specific company and -- of course -- find out what you'll likely earn.
I ran a few random jobs through the tool because I'm nosey like that. All of the following are based on working in the "Greater New York City" area.
The results also give you comparable salaries for the same roles in different locations, and obviously, they vary quite a bit.
There are some downsides to the tool, however.
The salary estimates are based on a database of individuals' annual incomes -- aka LinkedIn is trusting people to be honest with their numbers as to not skew the figures.
Also, the tool is in an embryonic stage. Right now, your estimated salary could be based on as little as five responses.
Here's what the big man (LinkedIn Director of Product Management Daniel Shapero) has to say about it:
As a trusted advisor to your career, we should update you on how your field is changing and put you in the best position to earn for you and your family. We're excited in the future not just to provide a tool to search for salary but also to integrate salary information directly into the core flows of LinkedIn. Most people make career decisions with salary in mind.
Or, you know, use this as a marker for how much you should be getting paid and ask for that raise!