Business Data Analyst 3

8/8/2019 Business Data Analyst 3

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for

You and Your Market

S

Match your job to the mostappropriate job description, not

just the closest job title.

Find out what companies likeyours - same size, industry, andregion - are paying for your job.This is the market range.

Know your strongest personalvariables - the things employerscould pay more for.

Before presenting this informa-tion to anyone, be sure to readall sections of this report.

Insiders Tips

1

2

3

4

Research Your Pay

Fast Facts

Personal Salary Report Summary

Your Personal Variables

The personal variables that most inuence your pay are as follows.

Negotiation Strengths Salary.comImpact Analysis

Actual job title

Industry

Company size

Geography

Base pay

Base plus bonus

Your Profile

You selected the following job title and job descriptionas being the closest match towhat you do.

Also in This Report

S

M

C

P

W

R

U

Summary

Users Guide

Market Data

Company

Personal Outlook

Worksheets

Resources

Base Pay

Your EstimatedMarket Value

Market Range

Legend

Your EstimatedMarket Value

Your CurrentBase Pay

H

Market Range(25th to 75thpercentiles)

Your Market Rangeis market datareecting the com-

bination of industry,company size, andgeographic region

you specied.

Source: Salary.com.

Low Mid High

Personal Salary Report

Andrea Lucas

Your estimated market value: $86,443-$91,276.

Your estimated market value in base pay is $86,443 to $91,276. Your estimated market value includingbonuses and other forms of cash compensation is discussed in the Market Data section under "Your

Total Cash Compensation." Because your base pay is below both the market range and your estimatedmarket value, you might be able to negotiate for an equity adjustment beyond the average raiseprovided there are no significant performance issues.

$77,787 $86,443 $94,965

$86,443 $89,623 $91,276

Business Data Analyst III

Healthcare

15,000 - 50,000

Phoenix, AZ

$63,000

$63,000

Interprets results using a variety of techniques, ranging from simple data aggregation viastatistical analysis to complex data mining independently. Designs, develops,implements and maintains business solutions. Works with main clients and project andbusiness leaders to identify analytical requirements. Provides tutorship to junior analystsRequires a bachelor's degree in area of specialty and 4-6 years of experience in the fieldor in a related area. Familiar with a variety of the field's concepts, practices, andprocedures. Relies on extensive experience and judgment to plan and accomplish goalsPerforms a variety of tasks. May lead and direct the work of others. A wide degree ofcreativity and latitude is expected. Typically reports to a manager or head of aunit/department.

Salary.com's compensationresearch shows that the averageraise for the typical Business DataAnalyst III is expected to be 2.3 to5.4 percent this year, or $1,449 to$3,402 in terms of your current basepay.

The chart shows which of yourpersonal variables have the mostpositive impact on your pay as aBusiness Data Analyst III. You mightfind it helpful to emphasize thesestrengths in a negotiation.

The page "Personal Variables" in thePersonal Outlook section is a fullersummary of the aspects of yourbackground that influence your pay.


Your Base Pay and Estimated Market Value as of November 2010

$77,787

Market Range

$94,965

$86,443

Your Est. Market Value

$91,276

$99,965

- $63,000

Years of experience 7

Number of reports 0

Performance rating Excellent

All pay data is expressed in U.S. dollars. Market data is as of November 2010; source is Salary.com. See page "How is This Calculated?" for more details or visit ouruser's guide for HR personnel at http://www.salary.com/hrusersguide/. Copyright 2000-2005 Salary.com, Inc.


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Pay BasicsHow does your job descriptionrelate to your pay?

In a negotiation, you might hear this.

You matched by job title, not job content (job

description).

This job description is too general; things are differ-ent here.

Your responsibilities, qualications, or working con-ditions are different from these.

You can prepare talking points by doing this.

If the benchmark job you chose is the closest match to your job, prepare a comparison between

your job description and the one listed above. If necessary, ask your human resources managerto help you conrm the match.

The job descriptions used in compensation data sources such as this one are intended to be as

generic and generally applicable as possible.

Note any additions or deletions on the worksheet Preparing for a Raise. Ask the employer ifthey see others. If the position matches yours by at least 70 percent, any differences should be

reected in where you fall in the range, not whether this is the right match.

Point/Counterpoint

Background: Your Benchmark Job

Market Data M


When determining the value of a job, your company does something similar to what you did in the Personal Salary Report. The process starts with

benchmarking, or comparing the major aspects of a job to those of relatively generic, yet comparable jobs listed in a compensation data source.Using a job description that summarizes the position, its major responsibilities, minimum qualications, and working conditions, the company looksfor a job that matches at least 70 percent of the activities of the job.

A job title alone does not dene the content of a job, because different organizations use titles to mean different things. The job descriptionsare used to eliminate those differences.

For salary comparisons and calculations, the job descriptions are often abbreviated from those in the personnel les. Whats in your le is aboutyou, and its very specic. The job descriptions used in compensation data sources are written to be applicable to different people in differentorganizations and different industries. These descriptions - sometimes calledjob descriptors- are the key to categorizing salary information acrosscompany and industry lines.

Find a benchmark job that overlaps yours by atleast 70 percent.

Your Job Description

Benchmark JobDescription

Your Benchmark Job

It makes it possible to compare your

pay to that of other people who dosimilar jobs for other employers.

It provides better, more accurate

information about what you do thanjust your job title.

It identies a standard, basic level

of skills, experience, education, andday-to-day responsibilities for the job.

A summary of the position.

Typical responsibilities. Minimum qualications. Working conditions.

What goes into a jobdescription?

Andrea Lucas facts


You matched your job, Business Data Analyst III, to the job of Business Data Analyst III. Below is the jobdescription for this matching job, which employers call a benchmark job. You described your responsibilitiesas equal to those listed below. These differences may or may not have a material impact on your pay. Theworksheet "Preparing for a Raise" includes a place to list the differences to help you prepare.

Interprets results using a variety of techniques,ranging from simple data aggregation via statisticalanalysis to complex data mining independently.Designs, develops, implements and maintainsbusiness solutions. Works with main clients andproject and business leaders to identify analyticalrequirements. Provides tutorship to junior analysts.Requires a bachelor's degree in area of specialtyand 4-6 years of experience in the field or in arelated area. Familiar with a variety of the field'sconcepts, practices, and procedures. Relies onextensive experience and judgment to plan andaccomplish goals. Performs a variety of tasks. Maylead and direct the work of others. A wide degreeof creativity and latitude is expected. Typicallyreports to a manager or head of a unit/department.

All pay data is expressed in U.S. dollars. Market data is as of November 2010; source is Salary.com. See page "How is This Calculated?" for details. Copyright2000-2005 Salary.com, Inc.


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Your Base Pay Market Data M


The numbers are Salary.coms market price for this job national average and selected scope.

The source of the data is Salary.com. The companys team of compensation consultantsestablishes Salary.coms copyrighted market data based on thorough research, analysis, andvalidation of each job.

Salary.com uses multiple sources of data to generate its market prices and publishes valuesonly when the data is sufcient to do so. If your employer has other data sources, ask how

those numbers compare with these.

Although this question is less likely, you can work with the employer to agree on an appropriate

aging factor and revise the numbers as needed.

If the company hints that it has a better, more appropriate data source, ask

how those numbers compare with these.

See the sheet How Is This Calculated? in Resources to learn more.

Background: Your Base Pay

Point/Counterpoint

Companies typically set base pay by consulting multiple market compensation data sources (such as salary surveys), which provide informationabout the external market for various jobs.The data in this Personal Salary Report is the same as the type of data employers use in conducting theirown research into market rates for base pay. It represents Salary.coms market prices for the selected job according to the selected scope (industry,company size, and geographic area) based on multiple data sources.

National average compensation for a job is the broadest set of data available for that job. It is accurate, since its based on the largest number of datapoints available, but less precise than scoped data, because it includes information that only par tially matches your situation. The national averagespublished here are the same as the national average numbers used in the Salary Wizard.

DefinitionYour estimated market valueis

Salary.coms opinion of where yourpay could be expected to fall withinthe market range. The adjustments are

explained in Personal Variables.


The chart compares your current base pay andestimated market value to the market range.

Percentiles 25th

50th

75thmedian

All sizes;All industries;All U.S.

Your CurrentBase Pay

H Market Range

Your Estimated Market Value

Pay BasicsHow do employers use marketdata?


Where did you get these numbers?

I dont know the original source of the data.

I dont know how many organizations and incum-bents are represented.

The data is aged to a different date from the one

we use.

We compare ourselves to a different peer group /

we compare ourselves only to a specic group ofcompanies.

As one of multiple sources of infor-mation about the market for jobs.

To best reect the recruiting market,

often by a scopeincluding industry,geography, and company size.

Aged to the desired date.

This data is comparable to market

data used by employers. It should be used as one of multiple

sets of data points. It reects the industry, geography,

and company size you specied. It is current as of this month.

How does this data comparewith an employers data?

Base Pay

Base Pay

Andrea Lucas facts



Your current base pay of $63,000 places you at approximately the 4th percentile for a Business DataAnalyst III working in the Healthcare industry in organizations of 15,000 - 50,000 employees in Phoenix,AZ. You are currently paid $23,443 less than the market median.

The table shows the market base pay figures for a Business Data Analyst III based on scope factorsincluding company size, industry, and geography.

15,000 - 50,000employees;All industries;All U.S.

15,000 - 50,000employees;Healthcare;All U.S.

15,000 - 50,000employees;Healthcare;Phoenix, AZ.

$77,249

$80,481

$77,989

$77,787

$85,844

$89,436

$86,667

$86,443

$94,308

$98,254

$95,212

$94,965

In addition to basic job information, your employer will look at some external factors that affect your compensation. More specifically,compensation is often affected by a combination of company size, industry, and geography. Together, the scope factors you selected don'tsignificantly alter the median pay for the job from the national average.

$77K

Market Range

$94K

$86K


$91K

$99K

- $63,000



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Your Total Cash Compensation


This job typically does not include a bonus.

The company did not meet its targets / everyonesbonus is small this year / some people are not get-

ting a bonus this year.

You did not reach your targets.

Point/Counterpoint


Your market data shows the typical total cash compensation for the typical person doing this jobin the industry, company size, and geographic area you selected. If your company does not pay

bonuses for this job, you should receive a higher base pay to bring your total cash compensationin line with the market. If this is the case, use this page, rather than Your Base Pay, as yourguide for discussions about your base pay.

Prepare to show the extent to which you achieved or exceeded your targets. If bonuses aresmaller, but some people are getting them, use your achievements to make the case that you

deserve a bonus.

If you did not reach your targets, it will be difcult to make the case for a large bonus. Understand

where you fell short and how you can improve in the future.

Bonus payments vary year to yearbased on a number of factors, includingbusiness, group, and individual perfor-

mance.

If your employer typically pays you a

bonus, you should review the plan withyour boss or a human resources repre-sentative to see how you can maximize

this years opportunity.

Bonuses take many forms. Forexample, in addition to an incentivebased on performance, you might beeligible for a referral bonusfor bring-ing an employee into the company;

or a gain sharingbonus for improv-ing productivity. Read your employeemanual carefully to see what typesof bonuses your employer gives out.

Background: Your Total Cash Compensation


Insiders Tips

DefinitionTotal cash compensationis base payplus any cash incentives (bonuses)paid during the year.

Bonuses and other types of incentives reward short-term performance and achievements based on some combination of company, group, andindividual performance. This is a variable, at risk form of compensation. When combined with base salary, it provides a competitive total cashcompensation opportunity.

Bonuses make up a larger portion of your total compensation as you move to higher levels and take on more responsibility. Corporate triumphsmatter more to your bonus too, since at higher levels, you are more accountable for the companys success.

Companies have to work hard to attract and retain strong performers. In recent years, companies have included more of their workforces in theirannual incentive plans, sometimes even nonexempt hourly workers. These plans allow more employees to share the wealth created by their work.

Of course, if the company doesnt create much wealth, there isnt much to share. In contrast to base salary, bonuses are usually not guaranteedfrom year to year, so they can be an effective way for an employer to have a lower xed component of its personnel budget - and pay smallbonuses or no bonuses in lean years.

Percentiles 25th

50th

75thmedian

The chart compares your current total cashcompensation and estimated market value tothe market range.

Total Cash Compensation

Market Data M

Your CurrentTotal CashCompensation

H Market Range

Your Estimated Market Value

All sizes;

All industries;

All U.S.

Total Cash Compensation

Andrea Lucas facts



Your current total cash compensation of $63,000 places you at approximately the 2nd percentile for aBusiness Data Analyst III working in the Healthcare industry in organizations of 15,000 - 50,000 employeesin Phoenix, AZ.

The table shows the market total cash compensation figures for a Business Data Analyst III based onscope factors including company size, industry, and geography.

15,000 - 50,000employees;All industries;All U.S.

15,000 - 50,000employees;Healthcare;All U.S.

15,000 - 50,000employees;Healthcare;Phoenix, AZ.

$78,828

$82,126

$79,583

$79,377

$87,005

$90,646

$87,840

$87,612

$94,308

$98,254

$95,212

$94,965

$79K

Market Range

$94K

$87K


$91K

$99K

- $63,000



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How do bonuses work?

Pay Basics

How Your Company Sets Pay

Theres a method to how most companies pay their employees. Companies often begin by developing apay philosophyfor paying employees in relation to the market. They research the available market data todetermine the value of each job, using multiple data sources.

To make sense and order out of many different types of jobs, companies also develop a job classifcationsystemto categorize each job in relation to the market and to other jobs in the company. As they do this, theycreate a pay structurewith pay rangesfor each job that are fair and consistent and include an appropriaterange of potential incentives.

They then review each employees experience and qualications in comparison to the pay range for that joband determine a fair level of base pay and incentive opportunity for each employee.

Background: How Your Company Sets Pay

A pay philosophyis a companys commitment to how it values employees. The purposes of a good compensation philosophy are to attract, motivate,and retain good people using a mixture of the three main components of compensation: base pay, incentive pay, and benets.

A companys pay structureis its method of administering its pay philosophy. Many progressive pay structures are a combination of the internal equityform, which uses a tightly constructed grid to ensure that each job is compensated according to the jobs above and below it in a hierarchy, andmarket pricing, where each job is tied to the prevailing market rate.

The internal equitymethod of structuring pay involves creating a series of grades. Each grade denes a level within the organization and anapplicable pay range.

Broadbandingis the pay practice of creating large ranges and control points within a grade to give people wide latitude to move within their jobwithout outgrowing the payscale.

The pure market pricingapproach is one in which people are paid in relation to the market value of their job, regardless of their level in theorganization. The pivotal value in the market pricing method is the midpoint of that job in the market. Over time, the employees pay should movefrom below the midpoint to above it consistent with improved prociency and performance.

To determine the prevailing rate for a job, companies use multiple compensation data sources(such as salary surveys) that provide market datarelevant to the appropriate industry, region, and company size.

To administer their pay, companies establish a compensation budget, usually set by senior management during its annual planning.

Example Incentive Payout Grid (as a percentage of base pay)


Even though you are doing work at a higher level,youre still technically at this level.

I really cant give you a bigger salary.


Review your job description to make sure it accurately reects your responsibilities. With yourboss, revise and update it periodically. When it begins to resemble the job description of the next

level, start preparing to ask for a promotion.

If possible, learn your companys pay philosophy - that way you can ask for things the company

is more likely to give. For example, if the company pays below the median in base pay, but above

it in incentives, focus on incentive pay in your negotiation. If you can, learn the internal pay range for your job and the job above it. This information is as

important as market data in helping you pinpoint what you can ask for - and get.

Point/Counterpoint

Company C

Poor

Below Expectation

At Expectation

Above Expectation

Example incentive payout grid for an employee whose target bonus is 5 to 10 percent of base pay. At theend of the year, the actual payout may increase or decrease depending on both individual and corporateperformance. Your companys incentive plan, if it has one, may differ in format or award levels.

Company Performance

Individual Performance

2-5%

5-10%

7-15%

10-20%

0-2%

3-7%

5-10%

7-15%

0%

2-5%

3-7%

5-10%

0%

0%

0-2%

2-5%

Above ExpectationPoor Below Expectation At Expectation

HR sets an expected bonusfor your job based on themarket data and companys payphilosophy.

Expected bonus is a weighted

average based on the range ofpayments available and the likeli-hood that they will be paid. Thisnumber might be based on theperformance and protability ofthe company as a whole, yourdivision or group, and you.

Your expected bonus is addedto your base pay to calculatean expected total cash compensa-tion number for market compari-son purposes.

If your bonus plan is very lucra-tive, chances are your base pay islower than normal.



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Your Last Raise: Keeping Pace with Inflation

On average, peoples pay increases approximately 4 percent per year, to keep pace with ination and include

some real growth in earnings consistent with career growth. If your pay does not increase along with theprices of things you buy, a buying gap opens up between what you used to be able to buy with your salaryand what you can buy today.


Our industry is stagnant / not paying well / consoli-dating.

The company just doesnt have the money / weredeferring raises.

Our numbers show that youre right in line with themarket.

You are already at the top of the companys rangefor your job.

You havent performed up to expectations.


Your market data is industry-specic, which means it takes into account any negative impactcaused by industry consolidation.

Try to get the company to distinguish between we cant pay and we wont pay. If it truly cantpay more because of nancial hardship, then think carefully about whether you want to remainwith a company that has an uncertain future. But take into account the state of the economy.

When the economy is doing poorly, it is easier for companies to give small raises or no raises atall, because other companies are in the same position.

Research when the company last benchmarked this position against the market. If the com-pany is setting its range using data that is out of date, your salary could be out of date aswell.

If your salary is above the median and your performance has consistently been strong, youcould be ready for a promotion.

Review your performance carefully with your supervisor to identify specic areas for improve-ment. Try to get a commitment that if you meet certain performance objectives, you will receivea specic increase. See whether you must wait until your next performance review, or whether

you can cut that timeframe in half if you show improvement.

Prices

Your Salary

Your Last Raise Today

Background: Keeping Pace with Inflation

Point/Counterpoint

There is a type of raise, called an equity adjustment, designed to bring an employees pay in line with the market. A gap of more than a year sinceyour last raise could be a reason to ask for an equity adjustment. Also, if it has been more than two years since your company last benchmarkedyour job, the companys data might be out of date as well, even if the company is applying an aging factor to adjust the data to the current date. Thiscould happen, for example, if the company is using an aging factor lower than the rate at which pay for this job has been increasing; or especiallyif the company is not applying an aging factor at all.

If you ask for an equity adjustment, there are two important things to know. First, some companies let managers give their employees an equityadjustment outside the regular salary review cycle. Second, it is not uncommon for equity adjustments to be paid for outside the normal meritincrease (raise) budget. If this is the case, the size of the equity adjustment will not be limited by the constraints of the merit budget. If an equityadjustment is large, it is common for the employer to spread the increase over two years.


Buying Gap

Company C

Pay Basics

What is purchasing power inthe context of pay?

Why No Raise is Like a Salary Cut

It is the value of your salary in termsof what goods and services you areable to buy with it.

Purchasing power erodes as ina-

tion increases, unless your salaryincreases at the same rate or a

greater rate.

How often should your payincrease?

More than two-thirds of employeesreceived a pay increase within the

last year. The average annual increase across

all jobs is just over 4 percent.

Raises should cover more than ina-tion; they should also provide somereal growth in earnings as your

career progresses.

Andrea Lucas factsYour last salary increase was in January 2008. This means there is a time lag between your pay set inJanuary 2008 and the market pay information that is effective November 2010. Namely there is gap of 34months, during which time the cost of most things you purchase has increased, but your pay has not.Effectively, you have lost some purchasing power.



8/14

Company C

Companies typically give raises once or twice a year. One of these occasions is usually the primary salaryreview date; the other one is secondary and often just for exceptions.

Typically, salary reviews take place either on the anniversary of the date you were hired, or on a date such asevery July 1. Salary decisions are made four to ten weeks before the salary adjustment date.

It is rare to receive a raise of more than 10 to 15 percent. The worksheet Preparing for a Raise includesspace to calculate your raise.

The table is a typical salary increase matrix for the job you selected. As the table shows, raises are highestfor employees whose performance is rated as strongest. Similarly, raises are higher for employees at a lowerposition in this particular grade within the companys salary structure, because there is more room to moveup within the job or grade.

Youve got more room to maneuverif you talk to your boss before thecutoff for salary decisions, whichcould be 4 to 10 weeks before yoursalary review.

Insiders Tips

Fast Facts

Point/Counterpoint


Plan in advance; talk to your boss up to three months before your salary review, before salarydecisions are made.

If you are asking for an equity adjustment, you may be able to get an increase outside thesalary review cycle.

If you are asking for an equity adjustment, ask whether it needs to come out of the merit

increase budget or the overall labor budget. If its the latter, your boss may have more discretionto give you the increase.

Some employers design their pay structures so that the highest level of one position is in linewith the lowest level of the next so there is no need for a bump. Ask whether this is the case.

There are many types of raises.

A cost-of-living increaseis an amount that lets you maintain your standard of living - your purchasing power - by keeping up with ination. Mostemployers set employees pay so that it at least keeps pace with ination.

A merit/performance increaseis an adjustment to move your pay further along in the pay range for the job, usually as you become more procient,

and usually more than the cost of living so that your standard of living increases.

A promotional increaseis a bump in base pay, up to 20 percent (and sometimes higher), to recognize additional responsibilities associated with anew job title. Not all promotions are accompanied by raises.

An equity adjustmentis a change in pay to bring someone more in line with the market. The need for an equity adjustment can arise whensomeone is hired at a lower rate; when someones pay does not keep progress with his or her growth; or when the job is in high demand

and short supply.

Employers do not necessarily separate cost-of-living, merit, and equity increases. The most typical approach is to group the rst two categories

for people continuing in the same job. The raise that accompanies a promotion is often just the total increase for cost of living, performance, and

promotion. Equity adjustments are less common.

Background: Your Next Raise or Promotion

Typical Salary Increase Matrix

Low

Middle

High

Below Average AverageAbove

Average

Position in SalaryStructure

Performance

Your Next Raise or Promotion


Its too late; weve already made our salary deci-

sions.

We just dont have the money in the budget / Weve

allocated our whole budget / Id have to take it awayfrom someone else.

You can have the promotion/title change, but it

doesnt come with a salary increase.


Typical raises for a Business DataAnalyst III are expected to be 2.3 to5.4 percent this year. Whencalculating your salary increase forthis year, your employer is likely totake into account your performanceand where you fall within thecompany's Business Data AnalystIII salary range. See the page "HowYour Company Sets Pay" for furtherexplanation.

0% - 3.4% 3.4% - 6.5% 4.5% - 7.7%

0% - 2.3% 2.3% - 5.4% 3.4% - 6.5%

0% - 0% 0% - 2.3% 2.3% - 5.4%



9/14

Personal Outlook PYour Personal Variables

What variables affectyour pay?


This is what we pay for the job; you may havethese qualications, but theyre not relevant to this

company.

I dont know how these numbers were calculated.


The company is negotiating with you because of the particular combination of skills and

experience you bring to the table. You have some things that enable you to perform the jobbetter than someone else might. List them and prepare to discuss them.

Personal variables help slot you in the pay range for a job. The adjustments describedhere were prepared by compensation professionals starting from aggregated market data.Together with your human resource professional, you could repeat the exercise and see what

adjustments you come up with.

Background: Your Personal Variables

Pay Basics


Point/Counterpoint

Personal VariableQualications of Salary.com Impact

Analysis

Years of experience

Person to whom you report

Number of reports

Professional orgs./designations

Shift differentials

Hazardous working conditions

Last performance rating

Education

Market range, base pay

Your est. market value, base pay

Market range, total cashcompensation

Your est. market value, total cashcompensation

Years of experience. Typically, moreexperience results in higher pay upto a point.

Education. Typically, the match

between your education and whatsnormally required for your job affectsyour pay. Plus, the quality of educationcan affect salary. Earning a degreefrom a top program typically has a posi-tive inuence on pay.

Last performance rating. Since mostemployers base their pay decisions atleast partly on individual performance,this is an important variable.

Person to whom you report. The morediscretion and latitude you have, the moredirectly your decisions and actions willaffect the bottom line and your own.

Number of reports. The more employ-ees you manage, the higher your pay incertain jobs.

Professional organizations/

designations.Professional designa-tions, certications, and membershipscan have a positive effect on pay levels.

Shift differentials. In certain jobs,workers may be expected to performtasks during less favorable shift times.These employees are typically paid apremium.

Hazardous working conditions. Incertain jobs, workers are expected toperform tasks under dangerous work-ing conditions. These employees aretypically paid a premium.

Andrea Lucas facts

Andrea Lucas compared to a typical Business Data Analyst III

Andrea Lucas

7

MBA - University of PhoenixMasters - university of phoenix

Excellent

Manager

0

N/AN/A

N/AN/A

N/AN/A

$77,787-$94,965

$86,443-$91,276

$79,377-$94,965

$87,612-$91,782

Taken together, the things you've told us about yourself - your personal variables - indicate that we wouldexpect your pay to be above the median of the range for the typical Business Data Analyst III. The Salary.comImpact Analysis below indicates what value we placed on each personal variable in estimating your worthrelative to the overall market range. If each variable has just one or two filled circles, we'd expect your pay tobe at the low end of the market range; whereas, if each variable has four or five filled circles, we'd expect yourpay to be at the high end.

Personal variables are characteristics, experiences, skills, strengths, and weaknesses that account for individual differences in pay from market

data. Where market data focuses on the "space," or the typical person in a job, personal variables are about the "face," or the individual doing thejob. Salary.com has calculated your estimated market value based on how your personal variables may affect your position within the market for atypical Business Data Analyst III.

Not all personal variables increase your pay - some may have a negative effect. For example, if a job typically requires a bachelor's degree and youdo not have one, your estimated market value could be lower than that of the typical person with that job.

It is difficult to apply a specific dollar value to any personal variable. Our methodology assigns a relative importance to each personal variable as itrelates to the job of Business Data Analyst III, then uses the information you provided to estimate a range. See the page "How Is This Calculated?"

We have indicated whether your qualifications in each area would increase, decrease, or have no impact on your pay versus the market.Adjustments for these qualifications are based on a comparison of you to the typical Business Data Analyst III. Your employer may assign verydifferent levels of importance and value to these.



10/14

Worksheets W

Write down your goal and the gap between your expected raise

and your goal to prepare for your upcoming negotiation.

Then list your successes below to help make your case.

Preparing for a Raise

A. Market Range*,

B. Your Expected Salary Range*

C. Implied Maximum New Salary


Its too late; weve already made our salarydecisions.

We just dont have the money in the budget.

Im not authorized to give you that much.

Point/Counterpoint


Plan in advance; talk to your boss as early as three months before your salary review, beforesalary decisions are made.

See the page Your Next Raise or Promotion.

Try to get the person to agree that the salary is reasonable; ask how much they areauthorizedto give you; ask them to divide the raise into pieces - cost of living, merit , market adjustment.

As you negotiate a raise, keep in mind when youre getting close to being ready for a

promotion. Use the worksheet Preparing for a New Job or Promotion.

Its rare for a raise to exceed 10

to 15 percent.

The cutoff for salary decisions atyour company could be 4 to 10weeks before your salary review.

Over the last several years, thetypical raise across all jobs hasbeen approximately 4 percent.

Insiders Tips

Performance Against Expectations

Record what your employer expected of you and how you delivered.

Goals and Expectations How You Did

Differing ResponsibilitiesRecord any responsibilities you have above and beyond whats normallyexpected for your job title; also note any you donthave.

Other Major Accomplishments and SuccessesRecord any additional signicant accomplishments or successes.

* Advanced users may want to adjustthe market pay numbers based onwhen your companys pay matches themarket. For example, if your companyplans 4 percent increases next yearand averages the market (lead/lag), thenumbers in A and B should be increasedby 2 percent.

Lead +4%

Lag +0%

Lead/Lag +2%

to

to

to

E. Your Current Salary

D.Your New Salary Goal(likely the lesser of B and C)

to $$

F. Your Ideal Raise (D minus E)

to $$

Preparation Notes



Raises for the job of Business Data Analyst III are expected torange from 2.3 to 5.4 percent this year. It's rare for a raise toexceed 10 to 15 percent of your current base pay, so yourimplied maximum is $72,450.

$77,787 $94,965

$86,443 $91,276

$69,300 $72,450

$63,000



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Worksheets W

To negotiate successfully, you have to know what you want.

Theres room to list your goal, the rst offer you get, andthe gap between the rst offer and your goal. Dont forgetto state a counteroffer.

List your successes below to support your case.

You may also want to begin your research on another job,for example by purchasing another Personal Salary Reportor by using the Salary Wizard, or both.

Preparing for a New Job or a Promotion


I need to hear your salary expectations.

We would like to offer you $X. I cant go any higher.

Where did you get your numbers?

Point/Counterpoint


Dont be the rst to say a number; instead, say youre interested in a fair-market salary forthe job.

Wait patiently before breaking the silence after they say a gure. Try to get the original offerincreased before you disclose a gure in a counteroffer. Try to get them to distinguish betweencant and wont.

Ask where they got theirnumbers.

A. Market Range for the job of

B. Your Goal

C. Their Offer

D. Gap (likely, B minus C)

Your Added ValueRecord your signicant achievements and how and why they are important for this new job or promotion.

Signicant Accomplishments, Skills, Etc. Importance for Potential Job

Most entry-level positions haveset salaries with very little negotiat-ing room. Mid-level positions havesalary ranges between 10 and 20

percent. (Source: Salary Successby R. Krannich)

Most HR professionals - 92 percent- say salaries are negotiable, and82 percent expect candidates tomake a counteroffer. (Source: Soci-ety for Human Resource Manage-ment)

Half of all employees negotiate formore than the original offer.

The employers rst offer is likelyto be slightly below the midpoint ofits internal range for the position.

Prepare for the employers objec-tions to giving you this job at thissalary by documenting your weak-nesses and preparing a response.

Insiders Tips

E. Your Counteroffer

to $

$

$

$

$

$

Preparation Notes

Additional Relevant Accomplishments and

SkillsRecord other valuable skills you bring to the job.

Alternatives

List alternatives to salary (bonus plan, signing bonus,time off, stock options, etc.) that you might accept.

Personal Salary ReportAll pay data is expressed in U.S. dollars. Market data is as of November 2010; source is Salary.com. See page "How is This Calculated?" for details. Copyright2000-2005 Salary.com, Inc.


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Insiders Tips

Go for a Win-WinA successful negotiation is whenboth parties feel they have won. Setreasonable expectations and youllbe more likely to feel like a winner.

Consider how you want it toend. How do you want your bossto feel at the end of the nego-tiation - scared? angry? worried?Or satised? Your boss will beconcerned if he or she does notbelieve you are satised, appre-ciative, or at least motivated toexcel so that you can earn higherpay in the future.

Assume there is a reason if youdont get the raise you want. Findout the reason, then gure outhow to remedy it.

Be prepared for no change afterthe rst conversation. Your boss

may have limited ability to giveyou a raise right now. If so,create a clear action plan andschedule a follow-up meeting.

Worksheets WNegotiation Pointers


Negotiate by the BookShow your employer that you understand the link between pay and performance, and between you and your market.

Ask when your position was last reviewed (market priced). Ask what market range they place on your job, what sources they use, andthe date of the data. Be sure it represents the practices for your industry, your company size, and your geographic area.

Compare the components of your pay to comparable market information. Identify the discrepancies and ask what accounts for them. Ask for a market adjustment if there are no performance issues. If the company offers a partial adjustment, or no adjustment, askwhen youll be eligible for the rest.

Make an advancement plan to increase your compensation or even move toward promotion. Your boss will be more likely to see yourcontributions if he/she has talked about your performance plan in advance.

Identify high-impact zones. List areas where you can have a signicant impact and focus on improving your work in those areas. Set goalsthat are SMARTspecic, measurable, action-oriented, realistic, and time-based.

Fix something. If appropriate, x something thats broken or identify a problem to and suggest a solution to someone better able to x it. Get training. If additional training would help improve your performance, consider ways to get that training in house or outside. Schedule a follow-up meeting. Negotiation is a continuous process - it doesnt begin or end with the conversation about your pay. End the conversation on a positive note. You and your boss will both feel good, and look forward to the future, if you can end the

conversation on common ground.

Background: Negotiation Pointers

Be One of the BestNegotiation starts with doing a great job.

Make your boss look good. The better you perform, the better your boss looks. Your work is not just acontribution to your salary, its also a contribution to the group, your boss, and the company.

Deliver on promises. If you promise to perform at a certain level, deliver on that promise. Dont agreeto something you cant do.

Learn from your coworkers. Watch what the strong performers do that you dont.

Time CarefullyNegotiations can happen at any time, but careful timing can work to your advantage.

Do your research up to three months in advance of your salary review. Document your successes as you review the numbers and prepare your worksheets. Schedule a meeting one or two weeks before your companys salary planning process. Negotiate before pay decisions are made. If you wait until your performance review, the checks might

already be cut.

Point/Counterpoint


I just cant go any higher.

The decisions are already made.

I hope this is good news.

ResearchLearn the

market

PlanningDocument your

successes

MeetingDiscuss a

win-win

Company

SalaryPlanning

2 weeks 1 week 1-2 weeks 4-10 weeks

PerformanceReview andSalaryAdjustment

The Earlier You Start, the Better


Plan how you will respond if the results of your negotiation are not what you hoped. Do yourbest to end the conversation on a positive note and a handshake. Be gracious.

Time can be your ally if youre patient. If the company needs more time, or if you did not havesufcient time to prepare for this negotiation, start looking ahead to the next one. Discuss a

performance plan that will help you get to your goals.

If you get the answer youre looking for, its time to stop negotiating. All thats left to say isthank you.



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Resources RGlossary


Average. The sum of a list of data points divided by thenumber of data points.

Base pay. The xed pay an employee receives for carryingout standard duties.

Benchmark. A market job (external job) to which an actualemployees job (internal job) is matched for pay comparison. The jobs

should have similar content, as characterized in thejob description.

Bonus. A payment or reward given to an employee, a team, a division,or an entire company, because of performance. Bonuses can be paidas cash, but also as stock options, shares, or other valuable things.

Broadbanding. The pay practice of creating large ranges andcontrol points within a grade to give people wide latitudeto move within their job without outgrowing the payscale.

Commission. An amount paid to a salesperson for a sale,usually expressed in terms of percentage of sales.

Compensable factors. See personal variables.

Compensation philosophy. The employers stated approach to how

it will pay employees, including its target position in relation to the com-pensation market for various jobs and its position on how it will moti-vate and reward employees for contributing to the companys success.

Cost-of-living adjustment. A type of raise used to help employeesmaintain a standard of living. Also called an ination adjustment.

Current prot sharing. A type of bonus in which employees receivesome percentage of the prots each year as a reward on top of basesalary. Usually expressed in terms of a percentage of an employeessalary. The rate may differ according to levels in the organization.

Discretionary bonus. A reward given out at the employers discretion,rather than one based on a formula or formal goals.

Estimated market value. The part of the market range for a job wherean individual working in that job might be expected to be compensated.This range approximates the impact of the individuals unique personalskills, traits, experiences, and other characteristics. See also personalvariables.

Grade. Medium-sized and large companies classify jobs into gradestoprovide guidance as to how much to pay people for different types ofwork. A grade (or level) has a salary midpoint and a range associatedwith it.

HR. Human resources. The personnel department.

Incentive. See short-term incentive.

Incumbent. A person doing a particular job; the employee.

Ination adjustment. See cost-of-living adjustment.

Job descriptor. A generic version of a job description, intended to bebroadly applicable to assist people in benchmarking jobs. A typical jobdescriptor is one or two paragraphs long.

Job description. A summary of a position, including major responsi-bilities, minimum qualications, and working conditions. A typical jobdescription is half a page to two pages long.

Long-term incentive. Pay that rewards people for the companys perfor-mance over time, in part to keep good people longer. Stock options are themost common form of long-term incentive, but there are others.

Market range. Information representing the pay practices of companiesmeeting certain scope criteria. Market data is often dened by the medianand the range between the 25th and 75th percentiles (often the low andhigh value of the typical market range).

Mean. The simple arithmetic average from a set of numbers.

Median. The item in the middle when a set of data points is ranked from thelowest to the highest, so that there is an equal number of data points belowand above it. See percentile.

Meritadjustment. A type of raise that increases an employees salarywithin the salary band for his or her job. Also called a performance adjust-ment.

National average salary. An average of all salaries encompassingthe United States for a particular job. Also the point of comparisonfor geographic differentials used to determine a specic salary fora particular city and/or region.

Pay philosophy. An employers commitment to how it values employees.The purposes of a good compensation philosophy are to attract,motivate, and retain good people using a mixture of the three maincomponents of compensation: base pay, incentive pay, and benets.

Pay structure. An employers method of administering its pay philosophy.Many progressive pay structures are a combination of the internal equityform, which uses a tightly constructed grid to ensure that each job iscompensated according to the jobs above and below it in a hierarchy,and market pricing, where each job is tied to the prevailing market rate.

Percentile. A mathematical term representing the value of a point on a setof data below which a cer tain percentage of the data points lie. For examplethe 25th percentile of a set is the point below which 25 percent of theset lies, whereas the 75th percentile is the point below which 75 percentof the set lies. The 50th percentile, or median, is the midpoint of the set.

Performanceadjustment. See merit adjustment.Personal variables. Those aspects of your background that mayhave an inuence on your pay. Compensable factors include whomyou report to, number of direct reports, years of experience inthe position, shift, hazardous working conditions, education, andmemberships in professional organizations.

Scope. A compensation term pertaining to a particular segmentationof a set of market data. The scope for your job title is thecombination of industry, geography, and company size you selected.

Short-term incentive. A cash payment to an employee when companyor individual goals have been reached. Payouts are typically made after

the close of the scal year.

Total cash compensation. The overall cash payments made to anemployee for his or her services during a given year. In other words, basepay plus short-term incentives.



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Resources R

Market data for your job has been thoroughly researched and validated by Salary.coms team of compensa-tion consultants. Your actual market value could vary considerably from the numbers we report, especially ifthe information you provided differs from your actual circumstances. In addition, your market value may bedifferent from the value your company places on your unique combination of talents and experiences.

Your human resources professional understands much about the industry and region in which your companyoperates, as well as the applicable compensation market. The analysis presented here is a solid startingpoint for a discussion with your HR representative about how the particular circumstances in which your

company does business might also inuence your value to your employer. See also the HR Users Guideat www.salary.com/hrusersguide/.

Pay Basics

How is this different from theSalary Wizard?

Market Data

The data in your Personal Salary Report represents Salary.coms copyrighted market price for this job. The source of the data is Salary.com. Allpay gures are expressed in U.S. dollars. Our team of compensation consultants establishes our market compensation data based on primary andsecondary research, analysis, and a proprietary mathematical model.

1. Salary.com identies jobs to include in the database and creates job descriptors that summarize the key aspects of each job.

2. In addition to using our own data, Salary.com identies and purchases the most current compensation surveys covering the targetedjobs. All of the surveys are published by reputable compensation data rms and Salary.com makes sure each adheres to the standardsset by WorldatWork.

3. Salary.coms compensation consultants match our job descriptions to the most comparable jobs (if any) from each available data source.Each job must be matched to multiple survey sources to be published.

4. Our compensation consultants create a composite view for each job, for each set of scopes and correct the data for any inherent biases.5. Salary.coms compensation consultants periodically validate the data points by comparing them with other market indicators.6. The Salary.com consultants composite view is then a best-of-the-best analysis of the compensation market for each job for which the

data is sufcient to report.7. The compensation consultants identify those scopes for which data is insufcient and interpolate or extrapolate a best estimate of a

reasonable market range.8. The team updates the database every month to incorporate the most current information available and to reect the general movement of

salaries. Therefore the market data pertaining to the job you selected is current as of the month in which you purchased the report.

How Is This Calculated?

Estimated Market

Value

Personal VariablesData Sources

Data Calculation


Personal Variables

Placing a value on an individuals talent involves both statistical analysis and compensation principles. To customize the analysis, we apply a generalset of rules based on our experience with market pricing. In principle, the method is this.

1. Salary.com identies the compensable factors - also called personal variables - that are likely to have a great impact on how an employervalues an individuals talent.

2. Each compensable factor is given a range of possible scores linked to the users possible responses and adjusted for the expected,or typical, response for that job.

3. Salary.coms compensation analysts further weight each factor depending on its relative importance for the given job.4. Using the values provided by the user, the consultants then create a unique set of adjustments which are aggregated to determine where

the users pay may be expected to fall in relation to the market range. This is the users estimated market value.

Methodology at a glance. Salary.com analyzes multiple data sources to determine a market range for eachjob, then examines the impact of your personal variables to develop your estimated market value.

Market RangeMatching and

Analysis

First, there are similarities. Both theSalary Wizard and your PersonalSalary Report use Salary.coms

copyrighted market prices, which areupdated monthly. The national aver-ages in both sources are the same.

But the regional numbers publishedin the Salary Wizard, Salary.comsfree data tool, are national averagemarket prices to which a geographicadjustment has been applied foreach region in the United States.

The data in your Personal SalaryReport is fully scoped. This meansthe data has been segmented toreect pay practices specic to var-ious regions, company sizes, and

industries.

$


Business Data Analyst 3

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Transcript of Business Data Analyst 3