When I started job hunting 7 years down the lane, the job market was in a real state of chaos. I was fresh out of high school and rather keen to hop on to the next available job without contemplating all the factors. Initially, I got a job at an eCommerce store. For me, it was a wonderful experience, to learn, to grow, and to give my best to the job I was doing.
Even though the salary was inadequate, I was just happy to be working anywhere at all, to be honest. For six years I kept up the grueling labor on the same post, with the same salary. But then, my friend forced me to switch jobs. The first hurdle which I faced while embarking on a job hunting venture was the salary that the company was offering. It was a tedious job to negotiate salaries with myriad interviewers.
Salary negotiation is something that sends shivers down the spines of even the most veteran job hunters. Thankfully, LinkedIn made life easy for anyone who is not willing to go through this tedious process. LinkedIn Salary – a tool that was launched in the year 2006, allows you to see the detailed breakdown of jobs based on the location and job title that was submitted privately by employees.
LinkedIn Salary Insights is an enhanced version of the previous update. In the LinkedIn blog update that was published yesterday, Keren Baruch – Senior Product Manager at Linkedin mentioned that with Salary Insights you will be able to see salary compensation details openly. The tool will be available on the job listing and show data from the 546+ million members and employee information that is submitted by the various employees.
A recent survey revealed that 70% of professionals want to know the potential salary and benefits before they even apply for a job. By making this offer public, LinkedIn has made a smart move.
According to the tool, LinkedIn will also notify the employees to update their salaries “periodically” to attract the right people for the job. It is also important to mention here that now, you can delete the salary information from the settings, and this information will be kept confidential and never be shared with random individuals.
The salary information is going to come from two sources:
Employer-Provided: The individual employers that have listed jobs and are looking for specific candidates are entailed to submit the salary details they have designated for the specified jobs.
LinkedIn Estimated Salary: Even if the employer has not mentioned the salary for a role, LinkedIn will show an estimated salary for the given role, calculated by analyzing other people who are working in a similar capacity.
As an Entrepreneur, I know the feeling that accompanies closing a successful sale, and the same goes for job hunting and navigating your way around the job hunt. With this update, it will be much easier for employees to look for jobs & apply for the right one.