New research could affect which jobs applicants apply for
Job seekers can now get an insight into individual companies before deciding to work for them thanks to new research and an innovative online tool created by Emolument.
Emolument Employer is a new service allowing individuals to access accurate pay data, including average salary details for a range of positions across a wide number of notable employers.
The statistics used to create the online database have been compiled from data submitted anonymously by over 45,000 people. The database then allows individuals to access a tailored salary benchmarking report, including information on salaries and bonuses offered by specific companies, as well as the qualifications they seem to value the most.
Enabling informed decisions
The aim of Emolument’s research was to empower people to make more informed decisions in terms of career choice, enabling them to manage their own career more effectively; it could certainly be argued that such specific details about individual companies could affect applicants’ decisions on which jobs to apply for.
Thomas Drewry, CEO of Emolument, said: "Until now, choosing whether to apply for a job has always been based on very short-term information like advertised salary and job description, but these are big life decisions and people need to understand the long term implications for their career.”
Further insight for applicants
In previous times it has proved difficult for applicants to see beyond the surface of an organisation when applying for a role. Those reviewing a job advertisement could only access basic information such as the job description and the expected salary. This new research enables individuals to access information which may affect their career-based decisions, for example, whether a role has any room for progression.
Mr Drewry said: “By offering a greater degree of transparency, this information empowers people to make more informed decisions on whether a move to a competitor or even a similar role in a completely different industry might give their career the boost it needs."
Nadim Choudhury, Head of Career Services and Employability at LSBF, believes the tool has come at the right time. He said: "This new tool by Emolument comes at the right time, when many graduates are considering their options when being offered positions. The salary tool helps students in understanding if their offers are valid and fair when compared to similair roles. It will empower candidates to be more confident when negotiating better terms or help keep minds at rest knowing that they are being paid what they deserve."