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PayScale Reaches New Milestones With Increases in Business Customers and Consumer Traffic

Company experiences record month of site traffic; grows employer customer base; and secures fresh capital
Seattle - March 18, 2009 - PayScale, Inc., today announced the company has increased its dataset to more than 16.5 million unique career profiles, completed its largest month of site traffic and grown its base of business customers into the thousands. New customers, stretching across sectors and industries includes: Talyst, Human Capital Institute, Infinia Corporation, GeoSoft, and Roll Call Inc.

In February 2009 alone, the company had over 2,000 HR professionals participate in their strategiccompensation training webinars. Additionally, PayScale has added more than a 100 new customers per month since early 2008.

"While the global economy is experiencing a severe downturn and structural changes, PayScale continues to grow by providing serious and necessary information to our expanding global customer base," said Mike Metzger, Chief Executive Officer of PayScale. "In 2008 our year over year revenues increased by 70%, our customer base continues to grow, and our long-standing clients continue to renew their business relationships with us."

PayScale recently launched a new service with Microsoft Live Search allowing users seeking answers to salary related queries to receive immediate answers. PayScale is providing instant answers to salary queries on Live Search for the 1000 most popular job titles (e.g. architect, concierge, lawyer). Searches will return national salary figures, with metro-specific information also available. Additionally, PayScale has partnered with Snagajob.com, the largest site for part-time and full-time hourly jobs.

Building on this momentum, the company has received an additional $3 million dollar equity investment in January 2009 to continue its growth. Investors included: Allen & Company, Corporate Executive Board, Buerk Dale Victor, Fluke Venture Partners, Madrona Venture Group, SAP Ventures, and Trinity Ventures.

Updated Consumer Platform

The company unveiled a Beta version of its new consumer platform. The new My Reports feature is an industry first, leveraging PayScale's extensive dataset to create unique tools for salary insight and ongoing career management. My Reports includes:
  • Salary and Benefits: See how your compensation compares to your peers.
  • Education: Is more education worth it in your profession?
  • Job Opportunities: Browse local job listings in your industry.
  • Anonymous Profiles: See career details about people like you.
  • Cost of Living: Find out which cities would be easiest on your wallet.
  • GigZig: Glimpse your future with our career path predictions.
  • Company Charts: Research a current or future employer.
  • Advice: Read helpful advice from people like you.

"With the labor markets across the globe in a downward cycle, now more than ever, employers and employees need PayScale's real-time salary datasets to keep up with changes in the economy," says Betsy Ribera, Vice President of Marketing for PayScale. "With a record traffic period in the 4th quarter of 2008 and over 3 million unique visitors in January 2009, it is clear that there is great demand for PayScale offerings."

Highly Relevant Reports on Compensation Topics

The company also released its third annual year-end tipping study with tipping chart. The report comes at a time of grave economic news - with weakening wages and growing unemployment - and reinforces the fact that gratuities are crucial to the financial survival of millions of middle-class workers in the United States. Six out of the top 10 professions relying most heavily on tips are in the restaurant and hospitality business, which is especially vulnerable to an economic downturn.

For the second consecutive year, PayScale was the central data source to the US News & World Report "2009 Hot Jobs and Career Outlook."

Following the Summer 2008 special report on salaries of University graduates through the United States, PayScale teamed with BusinessWeek to produce a report about MBA salaries.

PayScale continued its ongoing data support to national media outlets, including Forbes, CNN, the Wall Street Journal, CIO, Smart Money, US News & World Report and BusinessWeek.

Every day tens of thousands of people take PayScale's salary survey to compare their pay anonymously with their peers and improve their understanding of the job market. PayScale has created the concept of anonymously comparing your salary online - in detail - to other real people with similar individual and job characteristics (e.g., location, company type and size, job, experience, education, skills, and more.) Using an advanced search and proprietary matching technology, PayScale finds a relevant peer group from their dataset that matches the user-provided job information. The system allows every user's job profile to be unique and relevant to his/her different job requirements. This creates a level of accuracy that cannot be achieved with traditional methodologies and allows individuals to better understand earning potential

About PayScale
PayScale.com is the world's largest ongoing salary survey. With the world's largest database of individual employee compensation profiles, PayScale provides an immediate and precise snapshot of current market salaries to employees and employers. PayScale's patent-pending real-time profiling technology collects and indexes employee pay attributes worldwide and makes this compensation dataavailable through its online salary tools and salary benchmarking reports. PayScale was founded in 2002 and is headquartered in Seattle, Washington USA. 

Media Contact

Steven Gottlieb
Gottlieb Group Communications, LLC
206.427.9591
steven@gottliebgroupcom.com