PayScale Launches Career Path Technology
Company creates GigZig™ to help individuals explore career possibilities
Seattle, WA - August 3, 2007 - PayScale, Inc. today announced the launch of GigZig (www.payscale.com/gigzig), a new online search application that allows individuals to explore possible career paths- and what each job in that path typically pays today. GigZig information is pulled in real-time from the PayScale salary dataset that includes over 8 million unique user profiles worldwide.
GigZig is unique because it shows career paths taken by real employees, giving insight into the relationship between jobs, salaries and career opportunities. Surprises abound. For example, a barista might move into software development, a registered nurse might choose to pursue massage therapy or a CEO might step into non-profit management. Typical career paths are also shown.
"At PayScale, we are always thinking about innovative ways to use our survey and matching technology to serve the needs of people in the job market," said Joe Giordano, Founder, PayScale, Inc. "GigZig is a revolutionary tool because it leverages a large network of employees, producing user-generated content about what they are doing in their jobs. This is good information for making career decisions. Employers may find the data interesting as well."
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. As part of this process, users are asked about their previous jobs. GigZig provides a unique view of this information to paint a picture of what is possible in one's career over time.
"GigZig is especially interesting to those readying themselves to enter into a new career or job," said Deborah Chereck, Career Center Director at the University of Oregon and Past President of the National Association of Colleges and Employers. "As a career advisor to college students, I believe PayScale's approach meets the needs of our students today: having access to more relevant and more useful information about salary and career possibilities."
Historically, the process of determining prevailing salary and wage information has been manual, arduous, and prone to error due to lack of detail defining the companies and the jobs being compared. For decades companies have worked with old methodologies, and have difficulty determining the market rates of employees other than on very broad scales. PayScale makes salary information available in real time, with an un-matched level of depth and accuracy.
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 benefits data for employers and individuals. With the world's largest database of real-time individual employee compensation profiles, PayScale provides a precise snapshot of current market pay. PayScale's patent-pending profiling technology collects and indexes employee pay attributes and makes this data available through its online search tools and salary reports at PayScale.com. PayScale's tools help millions of employees maximize their earning potential and plan their careers, and PayScale Professional, PayScale's award-winning compensation data service for HR professionals and hiring managers, now provides real time salary information to more than 3,500 organizations.