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Understanding the STC salary database STC NEO mini-webinar, 15 May 2018

Understanding the STC salary database STC NEO mini-webinar, 15 May 2018. James Bousquet. Waterloo, Ontario, Canada Trainer at ATS Automation STC Treasurer since May 2017 Skiing, running. James Bousquet. Waterloo, Ontario, Canada Trainer at ATS Automation STC Treasurer since May 2017

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Understanding the STC salary database STC NEO mini-webinar, 15 May 2018

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  1. Understanding the STC salary databaseSTC NEO mini-webinar, 15 May 2018

  2. James Bousquet • Waterloo, Ontario, Canada • Trainer at ATS Automation • STC Treasurer since May 2017 • Skiing, running

  3. James Bousquet • Waterloo, Ontario, Canada • Trainer at ATS Automation • STC Treasurer since May 2017 • Skiing, running

  4. Agenda • What is the salary database? • Who should use it? Why? • How should I use it?

  5. What is the salary database? • 185-page report • Employment and compensation levels for technical communication • Based on Bureau of Labor Statistics (BLS) Occupational Employment Statistics wage survey • Compiled for STC by Industry Insights • Third-party research and consulting firm • Fall 2018 release • BLS collects and releases the following year • Based on 2017 data • Sponsored by Adobe and Writing Assistance

  6. What is the salary database? • Geography section • State, combined statistical area, metropolitan statistical area, non-metropolitan statistical area • Industry section (NAICS codes) • 2-digit = broad • 4- and 5-digit = granular • Professional section • Compares tech writers versus similar professions • Reporters, correspondents, PR specialists, editors, writers and authors, interpreters and translators

  7. Who should use it? Why? • Job-seekers; new to profession • Insights about industries, cities where the jobs are • Employees • Being paid fairly? • Solid facts to back up a raise request • Managers • Market rate? • Salary figures for setting budgets, bidding for projects • Freelancers • Investigate hourly rates for different industries, cities

  8. How should I use it? • “Guidelines”, not hard “standards” • Other factors affect total compensation package • Location (cost of living) • Benefits, 401(k) • Working environment, travel, overtime • Bonuses, profit-sharing • Vacation • Professional development • People vary • Education, experience • Where do you fall in relation to others?

  9. How should I use it? • Calculate your wages • Straight time: gross pay, exclusive of premium pay • Consider your situation • 1-2 years’ experience: 10th, 25th percentiles • Mid-career: Average, median • 20+ years, advanced degrees, managerial: 75th, 90th percentiles • Focus on the applicable numbers • Think about what you’re looking for • New job? New industry? • Moving? • Wondering if you’re fairly compensated?

  10. How should I use it? • Read the Executive Summary for orientation, getting started • Economic Overview, Report Highlights (13 pages) • Key employment and wage trends • Look at data on your industry and geographic area • Changing industry, city? Repeat with new parameters • Calculate wage ratio, compare to cost-of-living ratio • Difference between industry and geography? • Average • Weight them differently, if appropriate • Cost of living, industry variances

  11. Sample case 1 • Two years of experience • Works in ABC industry • Lives in DEF MSA • 10th percentile—ABC industry: $46,040, DEF location: $59,200 • Approx. wage: ($46,040 + $59,200) / 2 = $52,620

  12. Sample case 2 • 15-20 years of experience, plus advanced degree, certification • Works in GHI industry • Lives in JKL MSA • Industry: ($90,910 + $103,000) / 2 = $96,955 • Location: ($97,400 + $115,550) / 2 = $106,475 • Approx. wage: ($96,955 + $106,475) / 2 = $101,715

  13. Sample case 3 • Same as previous case, but in a high-cost-of-living location • Weight location wages more heavily than industry wages • Industry: $96,955 x 0.25 = $24,239 • Location: $106,475 x 0.75 = $79,856 • Approx. wage = $24,239 + $79,856 = $104,095

  14. Where do I find it? • Free to STC members: • access.stc.org > Member Center > My STC Profile • Non-members: • stc.org > Member Center > Salary Database • PDF $125 • Excel workbook $60

  15. Summary • Lots of data, good information • Narrow in on what applies to you (state, MSA, industry) • Follow the steps • Be objective • Compare yourself to colleagues, peers • Guidelines, not standards • No information on full compensation packages, qualifications

  16. Questions? Jim Bousquet STC Treasurer jbousquet.stc@gmail.com 519-503-1602

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