Compensation data from the government is thefoundation of Emsi compensation data. Specifically, Emsi pulls data from the BLS’ OES dataset to provide the framework for our comp data. Emsi supplements government compensation data with advertised wage observations that we scrape from job postings.
OES’ compensation data
Comprehensive: Includes salary information on 1.1 million companies nationwide
High Participation Rate: Approximately 57% of all US companies participate.
Data Lag: The OES is a rolling survey that takes time to collect and curate.
Granularity: The OES releases data as deep as the Occupation (SOC code) level.
Advertised wage data
Recency: Pulled from our job postings dataset which is a daily feed
Granularity: Can pull compensation data at the company/skill/keyword level
Volume: Over 37 million advertised salary observations
Self Reported: Indicates only what companies advertise, NOT what they pay
Compensation Data in Emsi Reports
Goal 1: Understand Pay Rates in your Market
Report: Compensation Analysis
Report Function: Identify where your pay rates fall in your market
Understanding pay rates for your roles in your markets is key to a competitive recruiting strategy.
This report uses the power of government data and advertised wage data to give you a holistic look at compensation throughout your markets.
How to Run the Report:
Enter your target occupation
Enter your target region and “run” the report
Using the control bar on the left-hand side, continue to refine your search (if you like by adding skills, keywords, or filtering by experience)
The report will first display a compensation range (that captures roughly the middle third of workers), and will also highlight compensation by years of experience.
Next, the table will display pay rates for your region, the nation as a whole, and cost of living adjusted pay rates for your region.
Find yourself on the data table to learn which percentile you fall into!
For context, if your pay rate is at the 50th Pct. that indicates that half of the people make less than that value, and half of the people make more.
If necessary, you might consider raising your pay rates to fall within the 50th to 90th Pct. range in order to find top talent, and hire them quickly.
Goal 2: Track Wage Trends over Time for Your Roles
Our country is in the midst of a talent shortage which is causing wage inflation in many industries.
To stay competitive, companies are tracking how wages are changing to be sure their wages are still attracting top talent.
Within the Same Compensation Analysis Report:
Scroll to the bottom of the report to identify advertised salary trends for your role.
In the top right corner of the trend graph, set your desired timeframe by toggling to either 6 months, 1 year, or 3 years.
This report uses advertised wage trends to track which markets are seeing wage increases year over year, and even month over month.
Goal 3: Identify Competitor Pay Rates
Report: Job Posting Competition
Report Function: Discover which competitors are claiming to pay for your talent
Understanding the pay rates of your competitors is key in both winning and retaining top talent.
Within this report you can hone in on advertised pay rates for your known industry competitors. You can also identify additional talent competitors (companies posting for the same talent) and see their advertised pay rates.
How to Run the Report:
Add an industry competitor of yours into the “company” field.
Optional: Add in your target state or MSA in the “region” field.
Add in your target occupation/job title and run the report.
The advertised salary piece of this report will pull out a median advertised salary, as well as show you the quantity of observations by price point.
Goal 4: Benchmark Talent Availability at Your Price Points
Report: Talent Supply by Compensation
Report Function: Learn what percentage of your talent in your markets you have access to at your pay rates
Many of our clients have the goal of setting pay rates that allow them access to experienced and skilled talent.
You can use Emsi data to set your pay rates (or to consult your clients to set pay rates), based on the desired access to the talent you are seeking.
How to Run the Report:
Enter your job title/occupation of interest.
Enter the pay rate you or your client are willing to offer.
Enter the region you are recruiting into, and run the report.
The report will display both the volume of workers, and the percentage of total employees you have access to at your set price point.