How to Determine Salary for a New Hire

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New Hire Salary?

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Find practical resources to help you do your job better:
Find practical resources to help you do your job better:
  • Salary Center - BLR’s exclusive salary surveys put reliable data on over 2,400 jobs at your fingertips – for your state and region
  • Plain-English state compensation law analysis - Never guess again about the ins and outs of overtime, FLSA, and minimum wage laws in your state
  • 100s of customizable, downloadable tools - Pre-written job descriptions, sample policies, forms make administration easier
  • Performance Appraisal Wizard - This tool makes it easy to create thorough employee appraisals
  • Weekly Compensation Ezine - Keeps you in the know**
  • "Ask the Experts" - 1 day, personalized answers to your compensation questions
Deciding what to pay new hires requires a great deal of research. By knowing what other companies in your industry are offering their new hires you can make a competitive offer that your candidates will accept.

Researching your industry’s compensation averages based on your location, company size, and many other factors is a must in order to create an offer that will be competitive. Once you know where you stand and what the benchmark salary for your industry is you can negotiate effectively with your new hire and come to an agreement.

When deciding what to pay a new hire it is important to look at experience and those already in your company. It is important to pay your new hire appropriately while still respecting the seniority and performance of your other employees.

Without doing the research required to make a competitive offer to a new-hire, a company may find themselves losing talent to competing companies. Researching salary benchmarks will lessen the risk of lost talent and will make new hires feel valued in their new position.

Reliable Salary Data-At your Fingertips
Now, reliable salary data and salary surveys can be found at the Salary Center on Compensation.BLR.com. The salary data includes national, state, and regional data. Here you’ll find compensation help for employers — reliable rate ranges, salary survey data, performance appraisal tool, and state regulatory analysis.

This practical website has samples of salary survey reports, compliance resources - including plain-English state and federal legal analysis of the Fair Labor Standard Act, forms and checklists, plus best practice compensation tips.

If you are interested in finding salary data, Compensation.blr.com has the help you need. You will also find tools like the Performance Appraisal Wizard, which helps you rate your employees fairly with its easy to use 8 step wizard.

The Library has more current resources on compensation data resources like these:

  • Exempt and non-exemp salary surveys for 2006
  • Pay scales and pay rates by position
  • State and regional salary surveys
  • Employee benefit survey rates
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    pay rates | job descriptions and salaries | pay scales
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