What three salary benchmarks provide the necessary context when researching market worth for establishing value?

Answer

Average, median, and top-of-market ranges

Establishing value in a negotiation requires anchoring discussions in objective, measurable data rather than simply stating personal desires. To achieve this, one must thoroughly research the market rate for the specific role, industry, and geographic location. This research yields three critical reference points: the average salary reported for comparable positions, the median salary, which represents the midpoint of compensation, and the top-of-market range, which indicates the highest justifiable compensation levels for top performers in that market. Having a firm grasp of these three metrics provides the necessary context to justify any specific number proposed, allowing the candidate to build a credible case for their requested compensation based on industry standards.

What three salary benchmarks provide the necessary context when researching market worth for establishing value?

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