The Best Tools to Calculate Your Salary + Know Your Worth

It’s?always?important to keep an eye on your current—and your?desired—salary.?

Whether you’re just starting out in a new industry or you’re looking to?negotiate for an upcoming promotion, you want to be as informed as possible about what you should be earning.?

The catch is…it can be particularly challenging to do this. There’s a lot to take into consideration when determining your?desired salary?besides the actual role itself—your experience, your skillset, the cost of living, the size of the company, and the company culture (think start-up or corporate). The list goes on.?

Plus, talking about salaries has traditionally been a conversation we’ve been taught to avoid, though we’re seeing a movement toward?open and honest conversations about salaries.?

Jessica Bennett explains in a New York Times piece that?millennial women are having salary conversations?with one another more often and that this is a good thing. For one, it helps employees understand what they should be making compared to colleagues or other professionals in the same industry or role.?

Secondly, we’ve got the wage gap to consider. According to?Pew Research Center’s, women make roughly 84% of what men earn. And for women of color, it’s worse:?Black women earn about 63 cents?per every dollar that white men make, while?Latinas make 55 cents?under the same comparison.?

All of that to say, if you’re looking to calculate salary, it’s important to do your research. This includes speaking to colleagues and friends, but it also includes taking to the internet for some number-crunching.

There are several innovative tools out there that can help you determine the number that’s right for you. They’ll help you gather salary data before you?negotiate with an employer?or when determining other life choices, like what to expect salary-wise?if you relocate.?

Here are the Top Salary Tools that I recommend checking out to help you figure out how much you should be getting paid.

PayScale

PayScale?is a salary calculator that provides a free salary report based on information about you. PayScale pulls data from website visitors who add their salaries and roles as well as from employers representing over 40 industries. Their data pool is large and grows all the time.?

How It Works:?First, PayScale asks specific questions about your job title, education, skills, location, and experience in a short survey. Then, you receive a pay snapshot that shows how your total pay (including things like bonuses and overtime pay) compares to people in the same job at a similar company with a similar background and cost of living as you.?

For more information, you can also select “Learn more about your pay and benefits” for a more detailed breakdown.

PayScale also has supplemental tools to help you gain a more rounded picture of your worth, such as showing how your compensation would compare if you worked at a different company, had a different degree or earned an additional one, or were a different gender, and a cost of living calculator to help you if you’re seeking a job in a different location.

For a quick snapshot without having to enter in as much information, you can also do a quick salary search job title, company, industry, and more.

Price:?Free

Great for:?Getting a really thorough detailed report. PayScale requires you to go through all your benefits, who you manage, and your responsibilities before it gives you a number. PayScale also lets you plug in a job offer, which is super cool if you're interviewing currently.

Glassdoor’s Know Your Worth

Glassdoor has always offered salary information about companies or by position (numbers provided directly from Glassdoor users themselves), but their?Know Your Worth tool?can help you understand your potential earnings better. It provides a personalized salary calculator that gives you a “custom salary estimate” with your location, experience level, and other important factors taken into account.?

How It Works:?Enter your employer, location, job title, years of experience, and current salary, and Know Your Worth will use an algorithm that factors in salary reports and market trends (not counting bonus compensation) to give you a base figure you should be earning.

This tool also reveals how this figure would change if you moved to a different city or gained more experience.

Don’t like the figure? Because this tool is on Glassdoor, it’s easy to start job hunting right then and there—especially since it lists job openings underneath the results.

Also, since the figure relies on the market, make sure to check your worth often because it can change weekly.

Price:?Free

Great for:?The most all-encompassing, crowdsourced answer. Since Glassdoor is one of the biggest salary sites?out there, your salary is getting compared to more people in your field.

Salary.com Salary Tool

Salary.com?has an extensive list of all positions in a field, including required skills and—surprise—salary details. You can filter salary data by categories, industry, and income levels.?Their Salary Wizard tool allows you to search via job title and compare information from their database to your own potential or current salary. It even includes benefit comparisons, average time off, bonus amounts, and cost-of-living calculators.?

Since Salary.com is one of the original compensation sites, it also contains a lot of great information, including an active blog and advice on all things money and jobs.

How It Works:?Salary.com’s Salary Tool provides a couple of easy ways to search. You can research via job title alone, or you can enter in your own role and location and it automatically provides you a personal salary breakdown as well as breakdown of benefit options.?

The official salary report includes worksheets that will help you calculate numbers that are right for you, in the event that you’re negotiating a salary or raise.?

Price:?Free to compare positions, $29.95 and up for a personalized salary report.

Great for:?Getting details about similar positions in your area, especially if you have a common job title.?We think their free comparison tool is the most helpful option they offer.

LinkedIn Salary

LinkedIn Salary?is a game-changer to the selection of salary tools. It calls upon its network of more than?800 million-plus members to provide compensation insights.

It not only shows the base salary of any given job title but includes details such as stock and annual bonus. It also shows users' top paying locations, industries, degrees, and companies and highlights how company size can affect your pay.

Even better, this tool also offers a look at the future by providing details on how users can expect their salary to change based on current and future experience in the field.

How It Works:?To view their compensation insights, you’ll first need to submit your salary data to their database. Then, you’ll add your skills and level of experience. Once you’ve done this, you’ll view aggregate salary information that’s specific to your position.

You’ll also be able to compare salaries for the same role in different cities, company sizes, and more. Plus, LinkedIn’s job database automatically shows you some open positions that might interest you, in the event that you’re?searching for a new job.

Price:?Free

Great for:?Seeing both your "right now" salary and also how you can expect it to grow in the future. It's also helpful for calculating what to expect with other types of compensation, like tips, bonuses, commissions, and more.

Salary Expert

Salary Expert’s salary tools?pull compensation and career data from the Economic Research Institute, and they boast salary data from over 1,100 industries and 11,900 jobs.?

While many of their salary tools are specific to employers who are looking to set pay, they also provide options for employees who are seeking compensation data. We like their site for their quick salary comparison options.?

How It Works:?Salary Expert is one of the less “personalized” options, as it allows you to simply sort through their database based on job title alone. You can browse some of their most-searched job titles and instantly see an average salary, or you can enter your own job title and location in order to see a gross salary for your role specific to your location.?

The graph they provide when you search via location shows an average salary for various experience levels and includes an estimated earnings graph. Plus, their cost-of-living data explains how your city compares to others in the United States.

Price:?Free

Great for:?A quick comparison of salaries for roles in your area—or an idea of what to expect salary-wise for specific jobs if you need a general number.?

Robert Half's Salary Guide

Robert Half?is known for the yearly salary guides that they compile in which they survey employers and employees from companies of all sizes across the country. They then create a national salary outlook that discusses hiring trends, like how?remote work?is changing the work landscape.

This guide also shows the perks and benefits that the employees surveyed appreciated the most, like the option for?flexible work schedules?and?shortened work weeks.?

Robert Half also offers a more?customized salary guide?for employees. This includes average salaries based on experience level, related positions, hiring trends for that specific role, and links to jobs that might be of interest.?

How It Works:?Simply enter in your email address, position, and location, and Robert Half generates a report specific to your role. This includes a salary number (and an average national number for comparison purposes) as well as location comparisons based on your specific city. Robert Half’s reports also show the current demand for people in this role, based on skill level.?

Price:?Free

Great for:?Anyone searching for what to expect now—or in the future as you acquire more skills and relevant experience. Their tools are also great for a national overview of what’s happening with regard to job trends across the country.?

Other Salary Tools

Thorough salary research certainly has its place, but sometimes it’s helpful to get some quick information regarding compensation. In the event that you’re daydreaming about a potential move, or you’re wanting a general salary idea about a role that might interest you, here are some other helpful tools.

CNN Money Cost of Living Calculator

Using?CNN Money's quick form, simply enter in two locations and compare what to expect regarding cost of living. Details include groceries, housing, health care, transportation, and more.

Educate to Career

This?simple salary tool?allows you to quickly enter a location and a job to see an average salary. No strings or forms attached.

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