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PayScale, Inc. or payscale.com is an online salary, benefits and compensation information company, which launched its service on January 1, 2002. It was founded by Joe Giordano, a former Microsoft and drugstore.com manager, and John Gaffney.
PayScale was developed to help people obtain accurate real-time information on job market compensation. The service works via the Internet by enabling individual employees to submit their job profile and salary data, which is then compared to others. Because a very large number (millions) of people utilize the service every month, the company claims it is able to use the volume of information statistically to determine accurate real-time salary information.
The company generates revenue by selling aggregate data and web services to employers, to aid in determining correct market rates for hiring, benchmarking and budgeting, and by targeted advertising to employees that visit its web site.
- Top 10 Product of 2006 from HR Executive.