Having access to up-to-date compensation data is integral for tech recruiting, which is why Betts has put together this list of some of the top compensation, comparison and planning tools for 2024. As highlighted in our latest Compensation Guide and other resources, salary range is a key factor when attempting to source unicorn go-to-market (GTM) talent in the technology sector, and offers off the mark can lengthen the amount of time it takes to attract your right fit for the job.
Why Accurate Compensation Data Matters
Tech has faced change after change in recent years, and we have seen the results of these in the trends impacting the talent pool and hiring. From several rounds of layoffs to Quiet Quitting in all of its forms, to a Great Resignation that never seems to truly end, the industry has gone through constant cycles of disruption that frequently alter talent acquisition goals in the space.
The latest trend is the focus on recruiting unicorn sellers, which adds a new layer to managing compensation offers for standout GTM candidates in the technology sector. Leveraging these tools with the Betts recommended target rate included with our Comp Guide will help you shorten your Time to Hire (TTH) and decrease your Cost-Per-Hire (CPH) by ensuring that you know the competitive rates required for unicorn tech sales talent.
Having accurate compensation data on hand will help you:
- Attract Unicorn Talent: Unicorn sellers in tech command higher rates than average, and are looking for more competitive offers
- Control Hiring Costs: The longer it takes to source talent for an open job, the more potential revenue you lose AND the more gets spent on sourcing methods
- Retain Top Performers: Compensation (and salary transparency) is a big factor for millennial and Gen Z employees in the technology sector
Top Compensation Data & Planning Tools for 2024
Here is our list of top compensation data gathering and planning tools for 2024:
Comp Engine by Betts – The Newest Compensation Data & Planning Tool
Comp Engine by Betts is a tool launched in 2024 that sources compensation data directly from Betts Connect, the proprietary hiring platform of Betts Recruiting, for top sales, marketing and other go-to-market jobs in tech. These metrics are taken directly from recent placements made by the Betts team, and include detailed breakdowns on different target rates and their impact on TTH, as well as additional key data points like the size of the candidate pool at each stage.
- Real-Time Salary Data: Access up-to-the-minute salary information and ensure your offers are competitive
- Shorten Time-to-Hire: Comp Engine shows you the expected Time-to-Hire for each target compensation rate
- Measure Candidate Pool: Displays the percentage of the candidate pool to expect at each percentile, and recommend target rate to access the greatest portion for a given title
- Multiple Filters: Leverage built-in filters in Betts Connect to search compensation data by title, experience, industry or location
- Connect Integration: Integrates directly with your Connect account to allow you to source data and candidates in one screen
- Free Access: Access is free after registration
With LinkedIn Salary Insights (which effectively replaced LinkedIn Salary as a standalone tool), you are able to view compensation averages and ranges, including for base salary versus additional earnings like annual bonuses. This data is available with LinkedIn Talent Insights for users in the US, UK and Canada.
- Salary Factors: See how factors such as company size, industry or education level impacts salary rates
- Global Reach: Utilize data from LinkedIn’s vast global network of members
- Paywalled: Full insights available with a subscription, like other tools on LinkedIn
Indeed
Indeed offers comprehensive salary data collected from job postings and user submissions, and calculates the average rate based on the full range from the total reported salaries. It also includes additional compensation notes, such as cash bonuses calculated on a yearly earnings basis.
- Salary Averages: Displays base salary average based on millions of job postings
- Pay by Location: Indeed will show the highest paying cities for a given job
- Limited Data: Compensation data on Indeed is very limited, both in the depth of insights and the number of jobs surveyed
ZipRecruiter
ZipRecruiter provides salary data and compensation insights based on job listings and user feedback. It also includes a salary calculator as well as an estimator, which both give detailed breakdowns of earnings based on different inputs and comparisons between rates.
- Salary Estimates & Calculator: Access salary estimates for various job titles, or calculate final compensation based on factors like hourly rates and paid vacation time
- Detailed Comparisons: ZipRecruiter gives a detailed breakdown of pay at different frequencies as well as adjustments for deductions
- No Data Validation: The biggest downside of ZipRecruiter’s salary tools is that data is collected in aggregate from submissions with no real validation, and you will see reports like “Nfl players” making $15/hr
Payscale
Payscale provides a robust platform for compensation management, providing insights into salary trends and helping companies structure their pay strategies effectively. Data is collected from various sources, including from different employers, employees and from surveys conducted by research firms.
- Compensation Planning: Offers tools for developing and managing compensation plans
- Employee Surveys: Gather feedback from employees to ensure compensation packages meet expectations
- Manual Work Required: Many user reviews indicate that the simple can be rather complex and requires a lot of manual input to work
Glassdoor
Glassdoor is widely known for its employer reviews and job listings, but it also offers a useful level of compensation analysis. Leveraging self-reported salary ranges, it contributes this data to each posted job and allows users to compare averages across different factors such as location or company.
- Company Reviews: Gain insights into company culture and employee satisfaction
- Benchmarking Tools: Compare compensation packages against industry and regional standards
- Risk of Inaccuracy: As the data is self-reported, there is no accuracy check against the included metrics or for variables across different fields
Salary.com
Salary.com is known for its extensive salary database and analytics capabilities, which includes benchmarking and detailed reports for various job titles and industries including tech. Additionally, Salary.com provides tools for job evaluation and market pricing
- CompAnalyst: Offers comprehensive analytics and reporting tools for compensation planning
- Customizable Reports: Allows users to generate tailored reports based on specific criteria such as job title, location, and industry
- Data Discrepancies: The majority of data collected on Salary.com is self-reported by employers, creating gaps or discrepancies for some jobs
Pave
Pave is a modern compensation planning tool designed to streamline the process of managing and analyzing salary data. It integrates with existing HR systems to provide real-time compensation insight and also offers tools for creating and managing compensation plans.
- HR Software Integrations: Seamlessly connects with popular human resource and payroll management software like UKG to provide up-to-date compensation data
- Real-Time Benchmarking: Provides up-to-date compensation data sourced from over 7500 companies internationally
- Limited Detail: As a still relatively new tool, Pave lacks in-depth data sets or detailed info, especially for more varied or niche titles
Carta
Carta is a compensation reporting tool that focuses on providing detailed equity and salary data geared for tech startups. The platform offers a variety of features, including equity management, salary benchmarking, and total compensation analysis.
- Equity Management: Provides tools for managing and analyzing employee equity and stock options
- Startup Focus: Access to a large database of comp information sourced directly from the startup market
- Pricing Hassles: Reviews indicate an expensive subscription plan and poor customer service make getting off-plan a challenge once you are locked in
Betts Cost-Per-Hire Calculator
The Betts Cost-Per-Hire Calculator is not necessarily a compensation data tool; however, its calculation engine is based directly on data taken from Betts Connect on average rates for AEs (Account Executives) and other common GTM roles in tech. You can leverage this tool in conjunction with the Betts Comp Engine and Connect to get a more accurate picture of your CPH.
- Hiring Cost Calculator: Calculates costs based on number of hires planned and associated expenses
- No Standalone Comp Data: Does not directly provide compensation data for each role, but calculates based on preprogrammed rates
Cut Your Hiring Costs with Betts Connect & Recruitment as a Service
Sign up for Betts Connect and get access to more tools like our Comp Engine and more, helping you cut down on your Cost-Per-Hire. With plans like our Recruitment as a Service (RaaS) offer, your hiring managers will be able to scale your talent acquisition around your goals and needs, whether you need to hire one unicorn seller or 100.
Schedule a Connect demo here, and get access to all of our compensation data, planning tools and more to help you streamline your tech sales recruiting.