How are salaries determined?

Salaries are determined by many factors such as demographic and market factors, budget availability, and data. Employers need to be able to have the budget available for salaries, but they also need to ensure that the compensation is competitive enough so they can attract top talent.

Employers will generally collect data and view market research to see the average salary for a position in similar industries or areas. Salaries are also impacted by factors such as the availability of jobs and the number of qualified people available for the position. It is also important for employers to make sure they are providing fair compensation for the work expected.