Seattle, Washington (PRWEB) January 09, 2013
PayScale, Inc. today announced The PayScale Index for Q4 2012, which tracks quarterly trends in compensation.
Even with the uncertainty brought about by the federal government’s budgetary issues, Q4 2012 proved to be yet another strong quarter for wage growth. Wages for most cities, industries, job categories and company sizes tracked by The PayScale Index are the highest they’ve been since 2006 and every measure of The PayScale Index experienced an annual growth in wages.
“While the headlines oftentimes go to the large-sized companies, The PayScale Index for the second consecutive quarter showed wage growth for small companies outpacing medium and large companies,” said Katie Bardaro, lead economist, PayScale. “Wages in Q4 2012 grew by 2.2 percent for small companies compared to only 1 percent for medium companies and 0.9 percent for large companies. This strong quarterly growth pushed small companies to almost 5 percent year-over-year wage growth, compared to only 2.7 percent for medium companies and 3.3 percent for large companies.”
Q4 2012 PayScale Index highlights include:
Adds Bardaro: “There is still no stopping the pay increases for jobs related to energy or technology, particularly highly skilled ones, as they experienced annual wage growth north of 3 percent and, in some cases, north of 5 percent.”
About The PayScale Index
The PayScale Index follows changes in total cash compensation for full-time, private industry employees in the United States and Canada. In addition to a US national index and a Canadian national index, it includes separate indices for the following:
The PayScale Index utilizes a unique approach to trend measurement. Unlike indices such as the Consumer Price Index, which measures the prices of certain goods and services (periodically updated to reflect changes in buying habits of Americans), The PayScale Index uses data on all private-sector, full-time employees working in a given time period.
PayScale has performed a detailed analysis of how various compensable factors, like work experience, education, employment setting and job responsibilities affect pay. This analysis is based on PayScale's extensive data of more than 40 million employee profiles, accounting for 250 compensable factors for more than 12,000 unique job titles, which show how the pay of actual workers varies with each of these factors.
Creator of the largest database of individual compensation profiles in the world, PayScale, Inc. provides an immediate and precise snapshot of current market salaries to employees and employers through its online tools and software. PayScale’s products are powered by innovative search and query algorithms that dynamically acquire, analyze and aggregate compensation information for millions of individuals in real time. Publisher of the quarterly PayScale Index(tm), PayScale's subscription software products for employers include PayScale MarketRate(tm) and PayScale Insight(tm). Among PayScale's 2,500 corporate customers are organizations small and large across industries including Mozilla, Tully’s Coffee, Cabela’s and the United States Postal Service.” For more information, visit http://www.PayScale.com.