HomeHR glossaryMarket Pricing
Market Pricing

Market pricing in the human resources industry refers to the process of determining the appropriate compensation for a job position based on current market conditions. It involves analyzing salary surveys, job market data, and competitor pay scales to ensure that a company's pay rates remain competitive and aligned with industry standards.

A company uses market pricing to assess whether the salaries it offers to its software developers are in line with industry norms. If the market data shows that similar roles at competitor companies pay higher, they may adjust their compensation packages to remain competitive in attracting and retaining talent.

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