Over 68% of recruiters believe salaries are the most important factor in attracting and retaining talent1.
HR professionals play a key role in deciding the compensation structure of an organization. But keeping a tab on the latest Salary trends in market has always been a challenging task.
On the other hand, millions of jobseekers share their salary information with Naukri.com. Aggregating this Salary information as mentioned by Jobseekers in their profiles can provide reliable Salary trends. We also surveyed the recruiters on Naukri and an overwhelming majority of them said that it will help them if Naukri provided this information.
Hence, we are launching a new tool to Benchmark your salaries – Naukri CareerNavigator. With ‘Naukri CareerNavigator’, recruiters get to see all relevant information in one place.
Some questions you may have about ‘Naukri CareerNavigator’:
Q. What is ‘Naukri CareerNavigator’?
‘Naukri CareerNavigator’ is a Salary benchmark tool to assist recruiters in understanding Salary trends in the market. It provides relevant and contextual information about popular roles in various industries and particular companies in that industry. It enables recruiters to compare different companies and industries so as to decide on the right compensation to attract the kind of talent they want.
Q. What is the source for Salary and other information which is displayed on the ‘Naukri CareerNavigator’?
The salary and other information which is displayed on ‘Naukri CareerNavigator’ are aggregate trends derived from the jobseeker profiles stored on Naukri.com.
Q. Salaries are anyway available to Naukri Recruiters in Resdex, What’s new?
Yes, recruiters can always view the Salaries of individual jobseekers working in a particular company/Industry in Resdex.
However, getting the overall trend in the market would require a recruiter to go through a lot of profiles. ‘Naukri CareerNavigator’ will present this consolidated information through easy to view charts and plots.
Q. If the Salaries are provided by jobseekers, what is the authenticity of the data? Have you crosschecked these salaries with the companies?
Strength in numbers: If number of data points available are below a minimum threshold, We do not show the salary for that role in a particular company or industry.
Removing outliers: If the salary is a vastly different from the rest of the sample set, we don’t include it in our calculations.
However, the data has not been validated by individual companies or industry bodies or Naukri. Also note that salaries do vary by qualification, years of experience, location, special skills required and/or performance.
Q. Are the Salaries which are displayed the latest Salaries?
Yes. ‘Naukri CareerNavigator’ only uses the salary information from profiles which have been updated within a year.
Q. How are the minimum, maximum and average Salaries calculated?
The average salary displayed for a role is the median of all the Salaries available for that role. The minimum is the 25th percentile of the Salaries, and the maximum is the 75th percentile.
The minimum and maximum are defined like this to weed out the outliers and potentially incorrect data provided by the jobseekers.
Q. What components of the compensation are included or excluded in the Salaries displayed?
Naukri Career Navigator uses the current CTC (Cost to company) mentioned by jobseekers in their profile. However jobseekers may have chosen to include or exclude bonuses and other perks while mentioning this information.
Q. Why are the Salaries shown by Roles and not by designations or the job title in my company?
Designations or Job title differ widely from organization to organization. Employees with similar responsibility may have very different sounding job titles in different companies. Or similar sounding job titles may have very different role and responsibilities.
Job Roles on Naukri on the other hand are based on well-defined hierarchies of profiles within functions/departments. So by using a standardized classification like Roles, it becomes easier to compare Salary trends across companies and industries.
Q. Why are some roles in some particular companies or the companies themselves not included on Naukri Career Navigator?
If the number of profiles available for a given role in a given company or industry are not above a minimum threshold, we do not show salary trends for that combination. A company is included only if at-least data for one role for that company is included.
Q. Can an employer trace whether a Salary being displayed is submitted by what employee?
No information on Naukri Career Navigator is derived from a single jobseeker’s data; neither can it be traced back to a profile by anyone. If we do not have sufficient number of jobseekers to anonymize the data for a given role in a particular company, that company or that role is not included.
So for e.g. If a jobseeker is the only employee at the position of ‘Vice President, Sales’ in his company, even if he registers on Naukri, salaries for ‘VP, Sales’ role in his company will not be displayed on ‘Naukri CareerNavigator’. So the employer cannot deduce from Naukri CareerNavigator alone that a ‘VP Sales’ from his company has registered on Naukri.
Q. How do I get access to Naukri CareerNavigator?
Login to your recruiter account and click on the link ‘Benchmark Salaries’ in the left navigation or directly go to http://careernavigator.naukri.com. Please note Naukri CareerNavigator is only available to Naukri recruiters.
For any more questions drop us a mail at salaryfeedback@naukri.com
Thanks,
Naukri Product Team