The Ultimate Salary Web Survey

Introduction 

Salary survey websites provide the necessary market data that is crucial in building a competitive payment structure in an organization. The two most important objective of formulating a compensation strategy are ensuring that the plans are internally equitable, and procedures are externally competitive. Meeting these criteria will enable the organization to attract and retain the right number of the right employees. Relevant survey websites such as Bureau of Labor statistics, wageweb.com and salary.com can be used in analyzing the salary of various professionals such as Engineers, Human resource managers and accountants in different cities, New York, Chicago Illinois, Houston Texas and Columbus Ohio. 

The Bureau of labor statistics 

Location / annual wages New York Chicago Columbus Ohio Houston Texas 

Electrical engineer $ 98,430 $102, 670 $ 107, 820 $ 103, 560 

Accountant $ 91, 630 $ 80, 860 $ 78, 490 $ 72,000 

Human resource manager $ 137, 630 $ 102, 230 $ 119, 690 $ 129, 630 

wageweb.com 

Location / annual wages New York Chicago Columbus Ohio Houston Texas 

Electrical engineer $ 98,420 $102, 470 $ 107, 520 $ 103, 590 

Accountant $ 90, 630 $ 81, 760 $ 79, 890 $ 79,900 

HRM $ 137, 300 $ 101, 430 $ 119, 690 $ 129, 630 

Salary.com 

Location / annual wages New York Chicago Columbus Ohio Houston Texas 

Electrical engineer $ 98,400 $102, 800 $ 107, 820 $ 103, 560 

Accountant $ 91, 630 $ 80, 860 $ 78, 490 $ 72,000 

Human resource manager $ 137, 630 $ 102, 230 $ 119, 690 $ 129, 630 

Findings 

The location is one of the factors that have an influence on the wages. When Comparing the salaries of different professional such as engineers, accountants, and human resources, the results shows that this professional salary change with location ( Salary.com , 2016). Considering the instant of an engineer in Houston Texas whose annual salary is $ 103, 560 and the same engineers can receive $ 98,430 if working in New York. It means that in Houston the wages of engineers is high. In New York, the human resource managers are the best paid compared to those in other locations. Moreover, the best-paid accountants are in New York too ( wageweb.com , 2016). 

Chart 

Location versus salaries 

Geographical location influence on wages 

Geographic location is one of the biggest factors that have the impact on salaries depending on one’s profession. The impact of location is based on rural and urban differences. Those professional in the urban neighborhood expects higher salaries compared to their counterparts in the rural area. The differences in wages are due to issues such as the cost of living, inflation rate and employment and unemployment data ( List of SOC Occupations , 2016) 

Impression on pays survey 

The three sites Bureau of Labor Statistics, wageweb.com and salary.com’s tools that can be used in determining the average wages to be given to the employees had significant information. The wage data is collected from different employers in the different location and is later analyzed. It is examined for any organization to understand the compensation plan in those situations. The surveys also focused on various job titles. The information accessed was not sufficient; it focused mostly on the annual salaries and locations. A compensation manager should concentrate on other factors such as experience, the performance reports, association and certification, education and the shift differences. 

References 

Bureau of labor statistics (2016). Retrieved 13 September 2016, from http://www.salary.com/docs/resources/salarycom_wp_geo_difference.pdf 

Salary.com . (2016).  CompAnalyst from Salary.com . Retrieved 13 September 2016, from http://www.salary.com/ 

List of SOC Occupations . (2016).  Bls.gov . Retrieved 13 September 2016, from http://www.bls.gov/oes/current/oes_stru.htm 

  wageweb.com . (2016).  Ww35.wageweb.com . Retrieved 13 September 2016, from http://ww35.wageweb.com/