PayScale

From Wikipedia, the free encyclopedia
Jump to navigation Jump to search
Payscale
Payscale.svg
Type of site
Private
Available inMultilingual
FoundedJanuary 1, 2002; 20 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 an American compensation software and data company which helps employers manage employee compensation and employees understand their worth in the job market.[2][3][4][5] The website was launched on January 1, 2002.[6] 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.[7]

On April 24, 2014, Warburg Pincus acquired Payscale in a deal worth up to $100 million.[8]

On April 25, 2019, Francisco Partners announced a majority investment in Payscale at an enterprise value of $325 million.[9]

Overview[edit]

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, its Software as a Service offerings have evolved to allow businesses to utilize multiple compensation data sources, including Payscale's Crowdsourced 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.[10] 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 surveys its users' income and background, and since 2007, it has published an annual ranking of American colleges and universities by their estimated return on investment. The rankings have been popular with the public but controversial among scholars of higher education.[11]

Payscale puts on an annual compensation industry event called Compference[12] and publishes original research on compensation-related topics such as the gender pay gap, college return on investment and salary history.[13]

In 2021, Payscale merged with Payfactors, a leading competitor. The new company operates under the Payscale brand.

References[edit]

  1. ^ "Payscale Management Team". Retrieved May 7, 2014.
  2. ^ Darlin, Damon (March 3, 2007). "Using the Web to Get the Boss to Pay More". The New York Times. Retrieved October 13, 2021.
  3. ^ Bieber, Christy (June 28, 2018). "Pros and Cons of an Open Salary Policy". The Motley Fool. Retrieved July 11, 2018.
  4. ^ Arrington, Michael (October 12, 2006). "How Much Money Do You Make?". TechCrunch. Retrieved October 13, 2021.{{cite web}}: CS1 maint: url-status (link)
  5. ^ Duryee, Tricia (August 29, 2005). "PayScale shows you the money". The Seattle Times. Archived from the original on March 10, 2012. Retrieved October 13, 2021.
  6. ^ "Payscale, Inc. on Business Week". Investing.businessweek.com. Retrieved August 2, 2012.
  7. ^ "Payscale names longtime Concur exec as CEO". www.bizjournals.com. Retrieved April 17, 2020.
  8. ^ Cook, John (April 24, 2014). "Salary report generator Payscale getting up to $100M in deal led by Warburg Pincus". Retrieved May 7, 2014.
  9. ^ Soper, Taylor (April 25, 2019). "Compensation data site Payscale valued at $325M after new private equity investment". GeekWire.
  10. ^ "Payscale Reviews & Product Details". G2 Crowd. September 13, 2019.
  11. ^ Lederman, Doug (April 18, 2017). "PayScale rankings of ROI have influence (and significant limitations)". Inside Higher Ed. Retrieved October 13, 2021.{{cite web}}: CS1 maint: url-status (link)
  12. ^ "Compference21 - The World's Best Modern Compensation Event". PayScale. Retrieved October 13, 2021.
  13. ^ "Comp Research". Payscale.

External links[edit]