PayScale Experiences Fast Growth and Expansion During 2012
Seattle - May 30, 2012
Company continues to grow customer subscriptions and compensation dataset; deepens agreement with LinkedIn; and expands executive team
- PayScale, Inc., today, announced the company has reached a new milestone of 2,200 business subscribers and grown its compensation dataset to more than 35 million unique career profiles.
"Our business continues to expand at a very healthy rate as we reach new milestones each quarter for corporate subscribers and the size of our dataset," said Mike Metzger, CEO of PayScale. "We are finding that both company executives and consumers, alike, are relying upon our data for exact and real-time salary information and insight as they navigate a complex economic recovery."
Accelerating Business During Uncertain Times
During Q1 2012, PayScale launched its latest version of PayScale Insight™, its on-demand software for midmarket companies. Insight helps to create and manage talent-winning compensation programs.
PayScale currently has more than 2,200 corporate subscribers, an increase of more than 60 percent from a year ago. New customers in Q1 2012 included Bloomberg BNA, Adecco, LoJack, Tribune Company, Taylor Valve Technology and Bunge Canada.
"Even though the pace of economic recovery remains uneven, our customers are telling us that the competition to attract and retain top talent continues to be challenging," said Dave Smith, chief revenue officer at PayScale. "The growth of our business reflects the importance of accurate and detailed compensation information as part of managing organizational talent in today's market."
Helping Consumers Navigate the Salary Puzzle
PayScale has made a number of consumer platform advancements, including a close collaboration with LinkedIn.
PayScale and LinkedIn, the world's largest professional network, have extended their agreement for two years. PayScale will continue to provide salary ranges for job listings on LinkedIn to LinkedIn's premium subscribers, allowing LinkedIn users to search for jobs by salary.
Furthermore, also working closely with LinkedIn, PayScale has created the PayScale Instant Salary Report. The PayScale Instant Salary Report uses LinkedIn's Application Programming Interface (API) to allow LinkedIn members to log in with their LinkedIn account on the PayScale site. Professionals can then select a current job title from their LinkedIn Profile and automatically see a salary report based on what similar professionals are currently earning.
"In addition to continuing our work with LinkedIn, PayScale will be adding services, features, and tools to our Consumer platform to make decision making based on our data even easier," said Barnaby Dorfman, general manager of Consumer Business at PayScale.
The PayScale dataset, in excess of 35 million unique career profiles, is the largest sampling of the U.S. labor force available. In comparison, other salary surveys and datasets are focused almost exclusively on large company employer surveys. The PayScale dataset by contrast is reflective of the U.S. economy.
"PayScale's dataset is unique for three reasons," said Mark Schneider, vice president at the American Institutes for Research. "First, its size provides an opportunity for detailed analysis that is unique. Second, because their collection method is ongoing, the dataset is always growing and always current. And lastly, the PayScale dataset is a snapshot of the U.S. economy: big to small and medium-sized companies; a diverse set of job titles, and complete geographic reach."
Adding Veteran Talent to Consumer, Business, and Big Data Operations
PayScale has added Barnaby Dorfman, Tim Low, Rob Jasper and Karl Knaub to its executive ranks.
Barnaby Dorfman has joined PayScale as senior vice president and general manager of Consumer Business. Dorfman previously spent seven years at Amazon.com, where he created IMDbPro.com and was a VP in the Search Technology group.
Tim Low joins PayScale as vice president of Marketing, with a focus on the company's leading on-demand software products for job pricing and compensation planning. He was previously an executive at Daptiv and Niku, and has held product management roles at both Microsoft and Oracle.
Rob Jasper joins PayScale as vice president of Data & Technology Platforms. He will oversee the data, software and IT infrastructure needed to power the PayScale applications (both B2B and B2C). Previously, Jasper served as VP of Engineering for Information Services at First Data where he oversaw engineering for more than 20 products in the areas of fraud, risk, analytics, and data services.
Dr. Karl Knaub joins PayScale as senior data scientist and will be responsible for advancing PayScale's analytics and data processes. Previously, Knaub oversaw the Analytics Services Group at First Data. Earlier in his career, Knaub was an applied mathematician at the National Security Agency.
"These executive additions to our team really deepen our strategic and operational capability in several important areas as we continue to grow and expand our business in 2012" said Mike Metzger, CEO of PayScale.
In addition to the new executive hires, Gwen Sheridan has been promoted to vice president of Account Management and Customer Service. Sheridan joined PayScale in 2007 and has helped grow, on board, and retain a customer base of more than 2,200 customers.
Creator of the largest database of individual compensation profiles in the world, PayScale, Inc. provides an immediate and precise snapshot of current market salaries to employees and employers through its online tools and software. PayScale's products are powered by innovative search and query algorithms that dynamically acquire, analyze and aggregate compensation information for millions of individuals in real time. Publisher of the quarterly PayScale Index™, PayScale's subscription software products for employers include PayScale MarketRate™ and PayScale Insight™. Among PayScale's 2,200 corporate customers are organizations small and large across industries including Zappos, Volunteers of America and Manpower. For more information, visit www.PayScale.com
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