Type of site | Private |
---|---|
Available in | Multilingual |
Founded | January 1, 2002 |
Headquarters | Seattle, Washington, U.S. |
Founder(s) | Joe Giordano John Gaffney |
Key people | Chris Hays, CEO [1] |
Industry | Internet |
URL | www |
Commercial | Yes |
Registration | Optional |
Current status | Active |
Payscale is an American compensation software and data company which helps employers manage employee compensation and employees understand their worth in the job market. [2] [3] [4] [5]
The website was launched on January 1, 2002. [6] It was founded by Joe Giordano and John Gaffney. Mike Metzger was CEO from 2004 to 2019. Scott Torrey, a 20-year veteran of SAP Concur, started as CEO on August 26, 2019 and stepped down on November 16, 2021. Alex Hart was then named CEO in November of 2021. [7] [8] In January of 2024 Chris Hays assumed the role of CEO.
On April 24, 2014, Warburg Pincus acquired Payscale in a deal worth up to $100 million. [9]
On April 25, 2019, Francisco Partners announced a majority investment in Payscale at an enterprise value of $325 million. [10]
Payscale was developed to help people and businesses obtain accurate, real-time information on job market compensation. While Payscale started by crowdsourcing compensation data from employees to power its products for employers, its Software as a Service offerings have evolved to allow businesses to utilize multiple compensation data sources, including Payscale's Crowdsourced and Company Sourced offerings as well as data from other providers. Customers can also manage their employee compensation strategy and structure within the platform and perform robust compensation analytics. [11] For employees, the service works via the Internet by enabling individuals to submit their job profile and salary data, which is then compared to others like them. They receive a free report on their market worth.
The company generates revenue by selling SaaS subscriptions, compensation data and services to employers, to aid in determining correct market rates for hiring, benchmarking and budgeting, and by targeted advertising to employees that visit its website.
Payscale surveys its users' income and background, and since 2007, it has published an annual ranking of American colleges and universities by their estimated return on investment. The rankings have been popular with the public but controversial among scholars of higher education. [12]
Payscale puts on an annual compensation industry event called Compference [13] and publishes original research on compensation-related topics such as the gender pay gap, college return on investment and salary history. [14]
In 2021, Payscale merged with Payfactors, a leading competitor. The new company operates under the Payscale brand. [15] [ better source needed ] Later that year, Payscale acquired pay equity and compensation management company CURO. [16] [ better source needed ] In 2022, Payscale acquired Agora, a software development company focused on pay transparency and employee experience. [17] [ better source needed ]
Tata Consultancy Services Limited (TCS) is an Indian multinational information technology (IT) services and consulting company headquartered in Mumbai. It is a part of the Tata Group and operates in 150 locations across 46 countries. In September 2023, it was reported that TCS had over 616,000 employees worldwide. TCS is the second-largest Indian company by market capitalization, the most valuable IT service brands worldwide, and the top Big Tech (India) company. As of June 2023, it was the world's second-largest user of U.S. H-1B visas.
Sweat equity refers to work one does to build up value without a salary. This ownership interest, or increase in value, is created as a direct result of hard work by the owner. For example, homeowners who renovate or repair their house themselves are investing in sweat equity that increases the value of their home. Or it could be a non-monetary benefit that a company's stakeholders give in labour and time, rather than a monetary contribution, that benefit the company. In some cases, sweat equity may be rewarded in the form of sweat equity shares. These are shares given out by a company in exchange for labour and time rather than a monetary amount.
A salary is a form of periodic payment from an employer to an employee, which may be specified in an employment contract. It is contrasted with piece wages, where each job, hour or other unit is paid separately, rather than on a periodic basis. Salary can also be considered as the cost of hiring and keeping human resources for corporate operations, and is hence referred to as personnel expense or salary expense. In accounting, salaries are recorded in payroll accounts.
Equal pay for equal work is the concept of labour rights that individuals in the same workplace be given equal pay. It is most commonly used in the context of sexual discrimination, in relation to the gender pay gap. Equal pay relates to the full range of payments and benefits, including basic pay, non-salary payments, bonuses and allowances. Some countries have moved faster than others in addressing equal pay.
Warburg Pincus LLC is a global private equity firm, headquartered in New York City, with offices in the United States, Europe, Brazil, China, Southeast Asia and India. Warburg has been a private equity investor since 1966. As of October 2023 the firm had over $82 billion in assets under management and invests in a range of sectors including retail, industrial manufacturing, energy, financial services, health care, technology, media, and real estate. Warburg Pincus is a growth investor. Warburg Pincus has raised 21 private equity funds which have invested over $100 billion in over 1,000 companies in 40 countries.
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Silver Lake, legally Silver Lake Technology Management, L.L.C., is an American global private equity firm focused on technology and technology-enabled investments. Silver Lake is headquartered in Silicon Valley and New York, and has offices in London, Hong Kong, and Singapore.
Executive compensation is composed of both the financial compensation and other non-financial benefits received by an executive from their employing firm in return for their service. It is typically a mixture of fixed salary, variable performance-based bonuses and benefits and other perquisites all ideally configured to take into account government regulations, tax law, the desires of the organization and the executive.
Lee Thomas Kranefuss is an American businessman, investment manager, corporate adviser, and entrepreneur.
In the United States, the compensation of company executives is distinguished by the forms it takes and its dramatic rise over the past three decades. Within the last 30 years, executive compensation or pay has risen dramatically beyond what can be explained by changes in firm size, performance, and industry classification. This has received a wide range of criticism leveled against it.
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