What if you worked in another city? Or what if you would stay at your current employer for a few more years? How would that influence your salary?
Starting today, StepStone allows Belgian employees to see how their salary evolves when their professional situation changes. StepStone’s new Salary Planner is an interactive tool that won’t only show you your salary compared to others but will let you know which factors you can influence to change your current salary.
What makes this tool unique in Belgium?
Not only do we provide an accurate estimation of the wages, based on several comparable variables, but we also offer the possibility to simply change any of these impactful decisions to have a real-time simulation of the different salary scenarios.
What happens if you worked in Ghent, but move to Antwerp or Charleroi? Or if you would have a few more years of experience? Users can simply choose and change anything and see what their possible salary could be.
How does the tool work?
Firstly, you answer a handful of questions related to your salary and professional background. After a safety required log-in, our algorithm shows you a graph with your salary, compared to the minimum & maximum for the same job. Then you can start playing with the data.
It is based on the salary data that we have been collecting through our questionnaire and allows to simulate future salaries based on the personal situation. Candidates learn how a change in industry, management level, location and more factor will impact their salary. They also learn where they stand compared to their peers.
“We want to help today’s candidates to take the right path in their careers. And salary is definitely at the center of it.”, says Virginie Nazon, head of marketing.
From a technical point of view, the StepStone Salary Planner is based on state-of-the-art technology and an in-house algorithm which our developers have worked years on.
The key word during the production phases were interactivity and user experience for Belgian employees. Virginie Nazon, head of Marketing at StepStone Belgium & the Netherlands, adds: “We want to help today’s candidates to take the right path in their careers. And salary is definitely at the center of it.”.
Check out our interactive Salary Planner on the dedicated landing page.
Methodology
We take three key factors into consideration when determining a person’s market-value:
- Background-related factors (e.g. professional experience, education)
- Job-related factors (e.g. job title, managerial responsibility level)
- Company-related factors (e.g. industry, size or company location)
Our data scientists developed a state-of-the-art prediction model that is capable of combining your answers to these three main aspects in a way that provides accurate indicators of salary range and market value for your profession and experience.
The Salary Planner is currently operating with an average error margin of less than 20%. In locations with considerable data volumes, the error rate is even lower. As we gather more anonymous data, we expect the median error margin in the entire market to decrease to as little as 5%.
About StepStone
StepStone is a Job board and the Belgian market leader in candidate delivery. StepStone’s success comes from connecting employers with dream candidates and thousands of people to their dream jobs.
StepStone is present in 23 countries today and is also a founding member of “The Network”, an alliance of more than 50 leading recruitment websites globally.
Results are crucial, but above all StepStone is a people company. Worldwide over 3,000 ‘StepStoners’ go the extra mile day in, day out for each and every customer. This is why StepStone is the go-to destination for employers and talent.