A salary calculator is a web-based financial tool that shows the average salaries of a given job depending on location and industry. The tool is primarily use to people who wish to compare their salary to the national average or when moving to another part of the country. Knowing location-based salary income data can help to evaluate the financial potential of job relocation; especially when paired with a cost-of-living calculator.
Using the tool is simple and yields a wealth of information about a particular job and similar positions in related fields. In general, the first step in using a salary calculator is to select your industry and a location. Location is best identified by its zip-code.
It then prepares a comprehensive list of jobs relevant to the selected industry. The list includes a description of the various related positions and a salary range report for each job. The next step is to find the description most comparable to your current job. Once you've pinpointed the appropriate position you can view the range of base salaries offered for that position in the specified area.
The salary calculator then displays the median salary for the position and gives it a statistical spread showing the variance of salaries that can be expected depending on the employer. The information is collected directly from the human resource departments at a range of employers working within an industry.
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