Naukri Launches Salary Comparison tool, PayCheck
Naukri has launched a salary comparison tool called Paycheck, that enables one to check for salaries for a role/work experience/city and degree combination.
For any given role, you can view the salary range (Architect with2 years of work ex are paid anywhere between 1 to 36 lakhs!).
The data is collected from what job seekers have entered in their Naukri profile, and that’s why is sort of questionable (for most of the profiles (work ex: 7 years), 52 lakhs is the highest salary earned – so something must have gone wrong in normalization).
This is an interesting initiative by Naukri – they have loads of data and need to figure out how data can be mined/played with in order to build useful service.
What’s your take?
Players in this space: JobeeHive, TalentEquity, Shine
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I think its a useful tool. The previous comparison tool only showed higher/lower percentages vis-a-vis others who had applied for a job, which wasn’t that useful, because it may not be an accurate representation of the market. This may help job-seekers set their expectations better.
BINGO….what a way to check the market pulse….its a win -win for recruiters as well as applicants…
The salary data did not seem to be correct. Portals like Indeed [http://www.indeed.com/salary?q1=java&l1=] or Simply Hired are better in terms of accurate compensation data.
A very good initiative by InfoEdge. It might take ‘Glassdoor’ approach later.
Thanks for sharing. The problem is that the source of information is not clear with naukri. How do they collect their data? I noticed many discrepency between them and other sites. but thanks anyway.