• Source: PayScale

Payscale is an American compensation software and data company which helps employers manage employee compensation and employees understand their worth in the job market.




History


The website was launched on January 1, 2002. It was founded by Joe Giordano and John Gaffney. Mike Metzger was CEO from 2004 to 2019. Scott Torrey, a 20-year veteran of SAP Concur, started as CEO on August 26, 2019 and stepped down on November 16, 2021. Alex Hart was then named CEO in November of 2021.
In January of 2024 Chris Hays assumed the role of CEO.
On April 24, 2014, Warburg Pincus acquired Payscale in a deal worth up to $100 million.
On April 25, 2019, Francisco Partners announced a majority investment in Payscale at an enterprise value of $325 million.




Overview


Payscale was developed to help people and businesses obtain accurate, real-time information on job market compensation. While Payscale started by crowdsourcing compensation data from employees to power its products for employers, its Software as a Service offerings have evolved to allow businesses to utilize multiple compensation data sources, including Payscale's Crowdsourced and Company Sourced offerings as well as data from other providers. Customers can also manage their employee compensation strategy and structure within the platform and perform robust compensation analytics. For employees, the service works via the Internet by enabling individuals to submit their job profile and salary data, which is then compared to others like them. They receive a free report on their market worth.
The company generates revenue by selling SaaS subscriptions, compensation data and services to employers, to aid in determining correct market rates for hiring, benchmarking and budgeting, and by targeted advertising to employees that visit its website.
Payscale surveys its users' income and background, and since 2007, it has published an annual ranking of American colleges and universities by their estimated return on investment. The rankings have been popular with the public but controversial among scholars of higher education.
Payscale puts on an annual compensation industry event called Compference and publishes original research on compensation-related topics such as the gender pay gap, college return on investment and salary history.
In 2021, Payscale merged with Payfactors, a leading competitor. The new company operates under the Payscale brand. Later that year, Payscale acquired pay equity and compensation management company CURO. In 2022, Payscale acquired Agora, a software development company focused on pay transparency and employee experience.




References






External links


Official website
• Source: Pay scale

A pay scale (also known as a salary structure) is a system that determines how much an employee is to be paid as a wage or salary, based on one or more factors such as the employee's level, rank or status within the employer's organization, the length of time that the employee has been employed, and the difficulty of the specific work performed. Examples of pay scales include U.S. uniformed services pay grades, the salary grades by which United States military personnel are paid, and the General Schedule, the salary grades by which United States white-collar civil service personnel are paid. Private employers use salary structures with grades (including minimums, midpoints and maximums) to define the ranges of pay available to employees in each grade/range.




Basic Pay Scale (BPS)


The term Basic Pay Scale (BPS) is used in Pakistan's government departments and public sector organizations to refer to the pay scale or grade of an official or incumbent.




See also


Open compensation plan, having pay scale openly shared




References

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