Salary surveys are often misused in hiring. Like when you budget for a new position using the 50th percentile average pay for a position, and then go looking for a superstar to fill the job. If you think you can hire superstars for the 50th percentile average salary … well, think again.
While salary surveys can give you the average pay range for common job titles, they are quickly outdated in a rapidly emerging or rapidly changing job market. And they are never a good guide for what you need to pay to hire superstars.
Paying a salary premium to land a top performer can be a great investment, but before you commit, you should understand what the “market rate” for top performers really is. So get your nose out of the survey data and read how to calculate “market rate” pay for superstars.
We have updated salary guidance in light of trends toward salary transparency in 2023. Please see: