Some people get really uncomfortable when talking about salary, so Glassdoor has released a new tool to help people better determine their worth in compensation. Know Your Worth aims to help people gain insight into how much money they make in comparison to other people working the same or similar job.
The tool asks you for your job title, employer, current salary, location and years of relevant work experience. Know Your Worth, which is still in beta, is currently able to calculate an estimated market value for 55-60% of the workforce in the U.S..
This comes after Glassdoor’s pay equity study this year that found that in the United States, women make about 76 cents for every dollar men earn. The tech industry’s gender gap is close to the U.S. average (5.4%), falling in the middle among industries. But it’s worth noting that the tech occupations with significant gaps include computer programmers (28.3%), computer aided designers (21.5%) and video game artists (15.8%)
Although Glassdoor is by far the most well-known careers site, it’s not the only company with this type of tool. Comparably, which launched earlier this year, aims to provide more transparency about compensation and help people better understand if they’re being paid adequately.
Based on Glassdoor’s assessment of millions of salary reports people have shared on the platform, my current pay falls within the range of what a typical reporter makes, which is between $50,000 and $80,000 a year. Glassdoor also takes into account current supply and demand trends in the job market, and recalculates your market value weekly. Because Comparably is still in its early days, not enough people are on the platform for Comaprably to be able to provide me with an accurate assessment of how my pay compares to that of other tech journalists in San Francisco.
Meanwhile, Glassdoor has a lot more money and resources than Comparably. Glassdoor has raised $200 million, with its most recent round of $40 million led by T. Rowe Price in June. Comparably, which launched in March, has just $6.5 million in funding from Crosslink Capital, Upfront Ventures, 500 Startups and others.
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