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I updated PayScale's CEO (new as of two weeks ago), description of the company which was inaccurate and fleshed out the overview to include some other pertinent info.
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| founder = Joe Giordano<br>John Gaffney
| founder = Joe Giordano<br>John Gaffney
| commercial = Yes
| commercial = Yes
| key_people = Michael Metzger, CEO and President<ref>{{cite web|title=PayScale Management Team|url=http://www.payscale.com/about/management-team|accessdate=7 May 2014}}</ref>
| key_people = Scott Torrey, CEO<ref>{{cite web|title=PayScale Management Team|url=http://www.payscale.com/about/management-team|accessdate=7 May 2014}}</ref>
| location = [[Seattle, Washington|Seattle]], [[Washington (U.S. state)|Washington]], U.S.
| location = [[Seattle, Washington|Seattle]], [[Washington (U.S. state)|Washington]], U.S.
| homepage = {{url|www.payscale.com}}
| homepage = {{url|www.payscale.com}}
}}
}}
'''PayScale''' is an American website which provides information about [[salary]], [[employee benefit|benefits]] and [[wage|compensation]].<ref name="motley fool">{{cite web|last1=Bieber|first1=Christy|title=
'''PayScale''' is a compensation software and data company which helps employers manage employee compensation and employees understand their worth in the job market.<ref name="motley fool">{{cite web|last1=Bieber|first1=Christy|title=
Pros and Cons of an Open Salary Policy|url=https://www.fool.com/careers/2018/06/28/pros-and-cons-of-an-open-salary-policy.aspx|website=The Motley Fool|accessdate=11 July 2018|date=28 June 2018}}</ref> The website was launched on January 1, 2002.<ref>{{cite web|url=http://investing.businessweek.com/research/stocks/private/snapshot.asp?privcapId=24326552 |title=PayScale, Inc. on Business Week |publisher=Investing.businessweek.com |date= |accessdate=2012-08-02}}</ref> It was founded by Joe Giordano and John Gaffney.
Pros and Cons of an Open Salary Policy|url=https://www.fool.com/careers/2018/06/28/pros-and-cons-of-an-open-salary-policy.aspx|website=The Motley Fool|accessdate=11 July 2018|date=28 June 2018}}</ref> The website was launched on January 1, 2002.<ref>{{cite web|url=http://investing.businessweek.com/research/stocks/private/snapshot.asp?privcapId=24326552 |title=PayScale, Inc. on Business Week |publisher=Investing.businessweek.com |date= |accessdate=2012-08-02}}</ref> It was founded by Joe Giordano and John Gaffney. Mike Metzger served as CEO from 2004 to 2019. Scott Torrey, a 20-year veteran of [[SAP Concur]], started as CEO on August 26, 2019.


On April 24, 2014, [[Warburg Pincus]] acquired PayScale in a deal worth up to $100 million.<ref>{{cite news|url=https://techcrunch.com/2014/04/24/warburg-pincus-buys-compensation-software-service-payscale-for-up-to-100-million/|title=Salary report generator PayScale getting up to $100M in deal led by Warburg Pincus|last=Cook|first=John|date=24 April 2014|work=|via=|accessdate=7 May 2014}}</ref>
On April 24, 2014, [[Warburg Pincus]] acquired PayScale in a deal worth up to $100 million.<ref>{{cite news|url=https://techcrunch.com/2014/04/24/warburg-pincus-buys-compensation-software-service-payscale-for-up-to-100-million/|title=Salary report generator PayScale getting up to $100M in deal led by Warburg Pincus|last=Cook|first=John|date=24 April 2014|work=|via=|accessdate=7 May 2014}}</ref> On April 25, 2019, Francisco Partners announced a majority investment in PayScale at an enterprise value of $325 million.<ref>{{Cite web|url=https://www.geekwire.com/2019/salary-compensation-data-site-payscale-valued-325m-new-private-equity-investment/|title=Compensation data site PayScale valued at $325M after new private equity investment|last=Soper|first=Taylor|date=April 25, 2019|website=GeekWire|url-status=live|archive-url=|archive-date=|access-date=}}</ref>


==Overview==
==Overview==
PayScale was developed to help people and businesses obtain accurate, real-time information on job market compensation. While PayScale started by crowdsourcing compensation data from employees to power its products for employers, it's [[Software as a service|Software as a Service]] offerings have evolved to allow businesses to utilize multiple compensation data sources, including PayScale's Crowd Sourced and Company Sourced offerings as well as data from other providers. Customers can also manage their employee compensation strategy and structure within the platform and perform robust compensation analytics.<ref>{{Cite web|url=https://www.g2.com/products/payscale/reviews|title=PayScale Reviews & Product Details|last=|first=|date=September 13, 2019|website=G2 Crowd|url-status=live|archive-url=|archive-date=|access-date=}}</ref> For employees, the service works via the [[Internet]] by enabling individuals to submit their job profile and salary data, which is then compared to others like them. They receive a free report on their market worth.
PayScale was developed to help people obtain accurate real-time information on job market compensation. The service works via the [[Internet]] by enabling individual employees to submit their job profile and salary data, which is then compared to others. The company claims that it is able to use the volume of information statistically to determine accurate real-time salary information.<ref>{{cite web|title=Using the Web to Get the Boss to Pay More|url=https://www.nytimes.com/2007/03/03/technology/03money.html?_r=1&adxnnl=1&adxnnlx=1343934796-7z5jEd+mlQCxIvK2a4T6KQ|publisher=The New York Times|accessdate=2 August 2012|author=DAMON DARLIN|date=March 3, 2007}}</ref>


The company generates revenue by selling aggregate data and [[web service]]s to employers, to aid in determining correct market rates for hiring, benchmarking and budgeting, and by targeted advertising to employees that visit its web site.
The company generates revenue by selling SaaS subscriptions, compensation data and services to employers, to aid in determining correct market rates for hiring, benchmarking and budgeting, and by targeted advertising to employees that visit its website.


PayScale puts on an annual compensation industry event called [https://www.payscale.com/compference Compference] and publishes original research on compensation-related topics such as the gender pay gap, college return on investment and salary history.<ref>{{Cite web|url=https://www.payscale.com/data|title=Comp Research|last=|first=|date=|website=PayScale|url-status=live|archive-url=|archive-date=|access-date=}}</ref>
The company has published rankings of U.S. universities based on "return on investment," or the purported difference between student expenditures for a university degree and the money they earn from it.<ref>[http://www.payscale.com/college-education-value-2013 "2013 College Education ROI Rankings: Does a Degree Always Pay Off"]?</ref> These rankings are dramatically different from better-known rankings published by ''U.S. News and World Report'', ''Forbes'', ''The Economist'', and other mainstream publications (for instance, PayScale places [[Yale University]] 93rd among American universities and [[Georgetown University]] 132nd). ''The Chronicle of Higher Education'' has criticized PayScale for using misleading sample sizes and for omitting all alumni of universities who go on to grad school from its count.<ref>Svaldi, David (April 21, 2014). "The More You Pay, the More It's Worth." The Huffington Post. (Quoting the Chronicle of Higher Education)</ref>


== References ==
== References ==

Revision as of 17:17, 13 September 2019

PayScale
File:Payscale.svg
Type of site
Private
Available inMultilingual
FoundedJanuary 1, 2002; 22 years ago (2002-01-01)
HeadquartersSeattle, Washington, U.S.
Founder(s)Joe Giordano
John Gaffney
Key peopleScott Torrey, CEO[1]
IndustryInternet
URLwww.payscale.com
CommercialYes
RegistrationOptional
Current statusActive

PayScale is a compensation software and data company which helps employers manage employee compensation and employees understand their worth in the job market.[3] The website was launched on January 1, 2002.[4] It was founded by Joe Giordano and John Gaffney. Mike Metzger served as CEO from 2004 to 2019. Scott Torrey, a 20-year veteran of SAP Concur, started as CEO on August 26, 2019.

On April 24, 2014, Warburg Pincus acquired PayScale in a deal worth up to $100 million.[5] On April 25, 2019, Francisco Partners announced a majority investment in PayScale at an enterprise value of $325 million.[6]

Overview

PayScale was developed to help people and businesses obtain accurate, real-time information on job market compensation. While PayScale started by crowdsourcing compensation data from employees to power its products for employers, it's Software as a Service offerings have evolved to allow businesses to utilize multiple compensation data sources, including PayScale's Crowd Sourced and Company Sourced offerings as well as data from other providers. Customers can also manage their employee compensation strategy and structure within the platform and perform robust compensation analytics.[7] For employees, the service works via the Internet by enabling individuals to submit their job profile and salary data, which is then compared to others like them. They receive a free report on their market worth.

The company generates revenue by selling SaaS subscriptions, compensation data and services to employers, to aid in determining correct market rates for hiring, benchmarking and budgeting, and by targeted advertising to employees that visit its website.

PayScale puts on an annual compensation industry event called Compference and publishes original research on compensation-related topics such as the gender pay gap, college return on investment and salary history.[8]

References

  1. ^ "PayScale Management Team". Retrieved 7 May 2014.
  2. ^ "PayScale.com Site Info". Alexa Internet. Retrieved December 27, 2017.
  3. ^ Bieber, Christy (28 June 2018). "Pros and Cons of an Open Salary Policy". The Motley Fool. Retrieved 11 July 2018.
  4. ^ "PayScale, Inc. on Business Week". Investing.businessweek.com. Retrieved 2012-08-02.
  5. ^ Cook, John (24 April 2014). "Salary report generator PayScale getting up to $100M in deal led by Warburg Pincus". Retrieved 7 May 2014.
  6. ^ Soper, Taylor (April 25, 2019). "Compensation data site PayScale valued at $325M after new private equity investment". GeekWire.{{cite web}}: CS1 maint: url-status (link)
  7. ^ "PayScale Reviews & Product Details". G2 Crowd. September 13, 2019.{{cite web}}: CS1 maint: url-status (link)
  8. ^ "Comp Research". PayScale.{{cite web}}: CS1 maint: url-status (link)


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