Determining Salary Benchmarks
What Is Benchmarking?
“Researching and comparing the broader job market’s standards for compensation, title, responsibilities, and perks based on the position, your skill set and qualifications.” -- from
Negotiating Your Salary & Perks, WetFeet
The first step in salary negotiations is figuring out what the job is worth in the broader job market. This is not always a formulaic process. Your benchmarked figure will likely fit into a range that you determine by researching and comparing a variety of sources. You might start with F&ES graduates starting salaries, but will want to further assess the market using some of the below tools:
Once you have determined a figure or a range, be prepared to discuss your method of determining the range during your negotiation, i.e. "According to my research, a typical starting salary for an associate level Environmental Consultant for a medium sized firm working on government contracts in the NYC area is $x."
