PayScale, the world's largest real-time salary resource, surpasses 10 million consumer profiles and reaches milestone of over 4500 business customers
2007 highlights show continued fast growth in acquisition of salary profiles and increasing HR adoption of real-time salary information
Seattle, December 21, 2007 - PayScale today announced that it has surpassed 10 million unique profiles and over 4,500 business customers. These new milestones come on the heels of multiple product feature advancements during 2007, new strategic investors, international partnerships, as well selection by the AlwaysOn Network as one of the Top 100 Innovative Private Companies in the United States.
Signaling support for PayScale's success, the Corporate Executive Board, SAP Ventures, Allen & Company and four other investors provided PayScale with approximately $10 million in financing last July. The investment was the first of its kind for Corporate Executive Board, which includes, among its other executive networks, the largest global network of Chief Human Resource Officers, since becoming a publicly-traded company in 1999. The CEB investment in PayScale is driven by an increasingly global demand for real-time, peer-to-peer information.
"2007 was a year of significant growth for PayScale. And in 2008 we anticipate continued successes: more business customers, more user profiles, and more adoption of our salary datasets and tools. Our customers and consumers tell us that real time accurate salary data provides them with information that helps improve their decision process, " said Michael Metzger, chief executive officer, PayScale.
PayScale created new partnerships with AOL, Adicio, Monster UK and Workopolis. The AOL alliance will offer AOL users the ability to determine their current market value with PayScale's Salary Calculator, and receive a comprehensive salary report for free by taking the PayScale salary survey. PayScale will also provide access to innovative career tools, and compelling career management content, including coaching articles, How-To tips and reports on workplace trends.
PayScale Professional, the company's business product for HR professionals and hiring managers seeking instant access to current compensation data for single jobs or company-wide benchmarking, also saw large growth. Voted in late 2006 by HR Executive Magazine as one of the top 10 products of the year, PayScale Professional became the centerpiece to new company partnerships with HCR Software, Halogen, Spectrum, Interthinx and the Corporate Executive Board. In addition to surpassing 4,500 business customers, PayScale Professional services over 6,500 unique job titles across industries and international geography.
The company also launched two highly successful consumer features. GigZig (http://www.payscale.com/gigzig), the Career Path Job Matching technology, is a first online search application allows individuals to explore possible career paths- and what each job in that path typically pays today. The results are based on answers submitted by millions of people who complete the PayScale Salary Survey each year. The Meeting Miser (http://www.payscale.com/meeting-miser) is a free widget that allows people to calculate the salary costs of workplace meetings. Meeting Miser pulls salary information from the PayScale dataset that includes over 10 million unique user profiles worldwide
Every day many 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 data set 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
PayScale is a market leader in online compensation and benefit data for employers and individuals. With the world's largest database of individual employee compensation profiles, PayScale provides an immediate and precise snapshot of current market pay. PayScale's patent-pending real-time profiling technology collects and indexes employee pay attributes worldwide and makes this data available through its online search tools and salary reports at www.PayScale.com. PayScale was founded in 2002 and is headquartered in Seattle, Wash.
Gottlieb Group Communications, LLC