Compensation benchmarking compares the pay you offer against what similar employers pay for the same role, scope and location. Good benchmarking uses current data, matches on actual responsibilities rather than titles, includes bonus and benefits, and is refreshed regularly — especially for hourly roles where local rates move quickly.
Key takeaways
- Match on responsibilities, not titles.
- Use current, local data.
- Include bonus, shift differentials and benefits.
- Refresh hourly benchmarks often.
How to benchmark
Define the role's real scope, gather current market data for your region and industry, decide your target position in the market, and compare total compensation.
Common mistakes
- Using last year's survey for hourly roles
- Comparing titles instead of responsibilities
- Ignoring shift differentials and overtime
- Forgetting benefits and flexibility
Need help with this right now?
Tell us what you're hiring for. Joe Coiro will reply personally with a plan, a rate range and a realistic timeline.
Frequently asked questions
How often should I benchmark pay?
At least annually for salaried roles, and more often for hourly roles in competitive markets.
Can Helix help benchmark pay?
Yes. Helix shares current market ranges for the roles we recruit.
Why do offers get rejected?
Most commonly because pay is below market, the process took too long, or a counter-offer was made.