The PayScale Index measures the change in pay of employed workers over time.
The PayScale Index specifically measures the quarterly change in the total cash compensation of full-time private industry employees in Canada overall, and in the six largest metropolitan areas.
The PayScale Index covers employees from all seven regions of Canada. Additionally, The PayScale Index examines quarterly changes in the pay of employed workers in the six largest metropolitan areas, which are geographical areas defined by the Standard Geographical Classification (SGC; 2011 definition). The six largest metropolitan areas are determined by July 1, 2010 population estimates given by the Canadian Census.
PayScale hosts the largest ongoing compensation survey in the world. In exchange for a report detailing how their compensation compares to others in the market, individuals are asked to submit detailed, anonymous information about their jobs and workplaces. There are no offers, payments or other incentives made to individuals to encourage them to fill out a personal profile. Once data is submitted to PayScale it is reviewed using advanced, patent-pending algorithms to determine if the information is accurate and eligible for analysis.
The PayScale Index is released quarterly.
Employers can use The PayScale Index to understand how trends in average wages are changing nationally and by metropolitan area. This information can be used to guide changes in mid-points of salary structures and grades, as well as give general guidance for pay adjustments for newly hired employees and raises for fully-qualified employees.
While The PayScale Index is useful for understanding broad market forces, for market pricing of a specific job or employee, we recommend employers use PayScale's Job Market Pricing and Compensation Solutions for Employers.
Employees can use The PayScale Index to understand how the average market price (expected wages) for the services of broad categories of employees is changing. It provides an accurate measure of "typical" market price increases for fully qualified workers doing the same job in the same way for the same employer, as it is directly measuring the price of labor in the market.
Changes in individual responsibilities and competence over time often have a greater impact on pay than broad market changes. To get a more precise salary range for your exact position or job offer, complete the PayScale Survey and receive a free personalized salary report.
Pay data is updated daily in the PayScale database. The PayScale Index measures quarterly pay trends and includes data through the end of the last month of the most recent quarter in the report.
PayScale, Inc. (www.payscale.com) is the leading online provider of employee compensation data. 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 data available through its online salary tools and salary benchmarking reports. PayScale was founded in 2002 and is headquartered in Seattle, Washington, USA.