this economy, pricing jobs according to market data is crucial to attracting and
retaining talent, and these hot new jobs, identified by PayScale, prove the
truth of that. If you were pricing these new and highly specialized jobs
according to general economic trends, you would most definitely lose the war on
this talent pool. These hot jobs will need to be paid a market premium, over
and above the market rate for similar positions in your organization.
following 8 premium positions are more valuable now than they
were five years ago, scored by a combined factor of projected growth and pay:
Data and Methodology behind this:
This is the forecasted growth from The Bureau of Labor Statistics for the job’s
overall job family for the period from 2010-2020.
Experienced Median Pay: The median of Total Cash Compensation for the specific job
title based upon how many years experience most people in the sample for the
occupation tend to have.
Cash Compensation (TCC): TCC combines base annual salary or hourly wage, bonuses,
profit sharing, tips, commissions, and other forms of cash earnings, as
applicable. It does not include equity (stock) compensation, cash value of
retirement benefits, or value of other non-cash benefits (e.g.,
creating a score for each of the factors involved we take the factor in hand
and divide it by the average of all jobs. The final score is then determined by
multiplying all the scores together and listing them from largest to smallest.