Naukri PayCheck – The New Salary Calculator On The Block!
The amount of money a company is willing to pay an individual is considered directly proportional to his importance in that organization. What does one do while evaluating a new job offer? He probably benchmarks his skill sets as compared with the best in the industry. Recently Naukri.com, one of India’s leading job site launched a useful salary tool called Naukri PayCheck. Does anybody remember about Shine.com? At WATBlog we once covered Sabeer Bhatia’s new business ventures then, launching a similar salary comparison tool.
How can you use the new salary tool?
You start by checking the salaries for your Functional Area and Experience. Then you can personalize and find people with profiles just like you. Here there are various parameters that are considered before giving you a result or rather say a graph of where you stand among all of your kind. ‘Personalize & Compare’ lets you specify the exact industry, or city, or education or role of the people you want to know the salary range of. Another curve will be plotted as a curve in the chart. You can add upto 3 such curves simultaneously to compare their salary ranges.
The parameters PayCheck considers –
- Functional Area
- Experience
- Industry
- City
- Education
- Role
The source of these results lie in the data set of 6 million anonymous profiles active on Naukri.com in 2009. Initially the salaries reported by 10 million profiles also included incorrect/incomplete information. So the sanitization gave them a sampling figure of 6 million profiles. The graph tells you the percentage of people who earn above a given salary.
The Curve!!
The main curve in their chart is the first curve in brown color plotted for the Functional Area and Experience range searched by you. The salary data for this main curve is based on anonymous profiles working in all cities, all industries, from all education backgrounds and they all of course have the same Functional Area and Experience. If an annual salary of 5 lakhs is at 50 percentile, it means 50 percent of the people of that profile earn less than 5 lakhs per year. Hence you also have a chance somewhere to hold your head-in-the-clouds, depending on the results.
What’s in it for you?
Nevertheless, the new salary benchmark tool answers the crucial question on the top of each employee’s mind, namely, “Am I being paid enough and how much are others with a similar profile being paid?”. One can also get a fairly accurate and representative analysis and feedback on how one’s compensation compares to contemporaries in the field.
What really interests me here is the part where you start thinking if Naukri PayCheck is trying to tell you what salary I should be earning? But may be it just shows what you ‘could’ be earning. Hence even recruiters can use Naukri PayCheck to benchmark salaries in an industry considering functions and experience levels. With this tool, they can also estimate how much to pay prospective employees, and also make appropriate offers to retain worthy employees.
So if you’re married and you want to be a ‘man’ by not telling your wife about your salary, this is like your worst nightmare. As she can now compare your salary with that of her friend’s husband(s), neighbours, your own friends and much more. But, “A man should never be ashamed to own that he has been in the wrong, which is but saying… that he is wiser today than yesterday.” – Jonathan Swift (1667-1745).
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hey that was really cool !! well written
@Kajal > Thanks for the appreciation..
comprehensive research ! but it seems the author missed out on unmarried employed people and its not only the father or son in a family who’s income matter but each one who contributes towards family. Let it be a daughter or wife or sister, so its not only for those wives who wish to flaunt their hubby’s status but for all ambitious employed people. So no discrimination we all work towards our goal, putting our best efforts irrespective of our gender.
Alright!… Now we’re talkin’..
@Kajal > Point taken!.. but i guess i mentioned that “if you’re married and you want to be a ‘man’”.. which means m not talking ’bout all the men… it’s bout only those men who want a solitary involvement with their salary slip..
neway.. will see to it that my message is transmitted appropriately next time! Appreciate ur feedback
Cheers
ya it’s a damn cool stuff…..gives a deep insight…
Well Written Abhishek
To that point,
Why would a husband lie to his wife about his salary?
Seems to be an interesting tool.
Will surely check it out !!