Know Your Worth:

A Customized Compensation Report Prepared For: Administrative Assistant Jane Doe 5/1/2014

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Table of Contents

Section Page

Administrative Assistant Summary 2

Table 1. Position Profile 2

Table 2. Administrative Assistant Market Value 2

Analyzing Survey Data 3

Table 3. Keating Advisors’ Individual Report Methodology 3

Guidelines for Determining Individual Compensation 4

Table 4: Percentiles Explained 5

Detailed Market Value 5

Table 5: Base Salary by Selected Scopes 5

Table 6. Total Cash Compensation by Selected Scopes 5

Glossary 6

Disclaimer 7

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1 Administrative Assistant Summary

Keating Advisors compared the Administrative Assistant position to the survey description below (Administrative Assistant) in order to identify comparable labor market benchmark data. The survey description is brief and highlights the key areas of content. It is designed to cover major job functions, not every single duty an individual might have. Therefore, it is rare that a survey job matches an organization’s job 100%. Keating Advisors considers a job a good match if the survey job represents 80% of the roles and responsibilities of the position.

Table 1: Position Profile

Position Details Survey Job Description Job Title: Administrative Assistant Administrative Assistant Years of Experience: 2-3 Supports an organization or department by performing administrative services. Assists Industry: Nonprofit management with administrative tasks such as tracking and compiling information of interest. Location: Washington, DC Metro Area Prepares various reports detailing the administrative information handled by the Revenue: $150 million position. Reads and answers correspondence. May handle confidential information. NOTE: This is not a secretarial position. Survey Data Source: Economic Research Institute Salary Assessor 2014.

Table 2: Administrative Assistant Market Value

Base Pay: Total Cash Compensation: $36,652 - $45,948 $37,452 - $46,520

Total Cash Compensation: All cash payments earned by Base Pay: A fixed amount of money paid to an an employee during a year of full-time . It employee by an employer in return for work includes base salary or hourly , wages, performed. SAMPLEbonuses, commissions, tips, and profit sharing.

2 Analyzing Salary Survey Data

For this report, Keating Advisors gathers labor market data from The Economic Research Institute. ERI contains "up to the present day" competitive salary and incentive survey data. ERI contains data for over 5,800 . Analyses are derived from millions of data points gathered from digitized public records including the US SEC, OCR of US IRS returns, ERI Salary Survey's patented online surveys, and licensed UK, Canadian, and US salary surveys and datasets.

Published surveys report various labor markets based on survey participation and availability of data. Most survey publishers typically provide scope cuts for industry, geographical regions, and large population areas. Keating Advisors utilized the information in the Position Profile to determine the appropriate scope cuts.

Scope Definition Selected Scope Industry A classification that refers to a group of Nonprofit companies that are related in terms of their primary business activities. Years of Experience Familiarity with a skill or field of knowledge 2 Years acquired over months or years of actual practice and which, presumably, has resulted in superior understanding or mastery. Location A region consisting of a densely populated Washington, DC Metro urban core and its less-populated Area surrounding territories, sharing industry, infrastructure, and housing.

Table 3: Keating Advisors’ Individual Report Methodology

4. Produce 3. Pull Data Final Labor and Analyze Market Range 2. Match Position Position to 1. Identify Market MarketSAMPLE Variables

3 Guidelines for Determining Individual Compensation

Market data is reported at the 25th, 50th and 75th percentiles to allow organizations to use the data when evaluating their competitive positioning for a position. Paying at the 25th percentile rate means that 25% of organizations pay less than that rate for the position, and 75% of organizations pay more than the rate for the position. Paying at the 75th percentile means that 75% of organizations pay less than that rate for the position, 25% of the organizations pay more than that rate for the position.

Table 4: Percentiles Explained

1st Quartile (0 - 25th Percentile): in this range characteristically apply to entry- level employees who are comparatively inexperienced and in the process of developing Why are their skills, abilities, and knowledge in their . Usually, people within this quartile advanced quickly beyond it as they accrue experience. If your pay has not percentiles advanced beyond this range, there may be issues with your performance or an unfair important? compensation policy in place. No one market 2nd Quartile (25th - 50th Percentile): Salaries in this range are usually paid to employees percentile fits all who are progressing towards a developed set of skills, but have not yet achieved them. While closer to an entry-level position, this percentile does not necessarily indicate sub- applicants. It is par performance. critical to compare

Median (50th percentile): Salaries in this range are paid to individuals fully qualified to your unique work in their position. Usually, very few people are paid starting at this point when they background to the are first hired. market rates in 3rd Quartile (50th - 75th Percentile): Salaries in this range are paid to employees who are order to hone in continuously achieving high marks on performance reviews, taking extra initiative within on where your their position, or who have performed at the satisfactory level or above over the course of a few years. compensation should be 4th Quartile (75th - 100th): Salaries in this range are paid to employees who consistently positioned. display top-notch performance and initiative within a position, or to employees who have achieved excellent marks on performance reviews over the course of several years.

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4 Detailed Market Data

The following pages contain detailed market value for base and total cash compensation for an Administrative Assistant’s various labor markets, top cities, and differing years of experience.

Table 5: Base Salary by Selected Scopes

Position Scopes Base ($000) Location Years Industry 25th 50th 75th Washington, DC 2 Nonprofit $36,142 $39,389 $43,492 Washington, DC 2 All Industries $36,960 $40,533 $44,916 New York, NY 2 Nonprofit $36,858 $40,337 $44,685 New York, NY 2 All Industries $37,726 $41,556 $46,212

Table 6: Total Cash Compensation by Selected Scopes

Position Scopes Total Cash Comp ($000) Location Years Industry 25th 50th 75th Washington, DC 2 Nonprofit $36,659 $40,050 $45,948 Washington, DC 2 All Industries $37,616 $41,251 $45,712 New York, NY 2 Nonprofit $37,473 $42,712 $47,286 New York, NY 2 All Industries $38,396 $42,292 $47,032

A Note on Reaching Fair Pay At Keating Advisors, we highlight the most important step of negotiation as Clarity: researching your position’s labor market range and having a solid sense of the work environment are essential dynamics to know before entering a negotiation. This report is meant to be a guide - to show you what ranges exist for others in your position, industry, location and level. Understanding that the market represents the scope of the position, independent of your individual performance and qualities, is a key component in negotiation.

More importantly, knowing the true value of your position gives you the confidence to approach your manager or HR staff professional to inquire about a raise, better benefits or even just to get more information on your organization’s compensation philosophy. Use this report not as evidence, but as support in your unique fight for fair pay.

SAMPLE “If you want true professional fulfillment, choose a field or a job because it is your passion. And then, work to be paid equitably.” – Kim Keating

5 Glossary

Base pay (Market value) A fixed amount of money paid to an employee by an employer in return for work performed. Bonus Additional compensation given to an employee above his/her normal . A bonus can be used as a reward for achieving specific goals set by the company, or for dedication to the company. Compensation factors Those aspects of your background that may have influence on your pay. Factors can include number of direct reports, years of experience in the position, performance, and . Estimated market value The part of the market range for a job where an individual working in that job might be expected to be compensated. This range approximates the impact of the individual's unique personal skills, traits, experiences, and other characteristics. Incumbent A person doing a particular job; the employee. Job description Explanation of the job responsibilities associated with a given job. Labor market The market in which workers find paying work, employers find willing workers, and wage rates are determined. Labor markets are usually described as strong or weak. The type of labor market depends on exchange of information between employers and job seekers about wage rates, conditions of employment, level of competition, and job location. Market pricing A valuation used in compensation systems. It compares what the external labor market pays for a similar job. Market range Data characterizing the pay practices of companies meeting certain scope criteria. Market data is often classified by the median and the range between the 25th and 75th percentiles (referred to as the "low and high" value of the typical market range). Mean The simple arithmetic average from a set of numbers. Median A value or quantity lying at the midpoint of a frequency distribution of observed values or quantities. National average salary An average of all salaries encompassing the United States for a particular job. Also the point of comparison for geographic differentials used to determine a specific salary for a particular city and/or region. Percentile A mathematical term stating the value of a point on a set of data below which a certain percentage of the data points lie. Salary range Used to determine individual employee pay, refers to range of rates from minimum to the maximum. Scope A compensation term relating to a particular segmentation of a set of market data. Examples of the scope of a job title are the combination of SAMPLEindustry, geography, and company size selected in the profile. Total cash compensation All cash payments earned by an employee during a year of full-time employment. It includes base salary or hourly wages, overtime wages, bonuses, commissions, tips, and profit sharing.

6 Disclaimer

The Keating Advisors website, materials, and any product or service obtained through this site, are provided as is and without warranties of any kind, either express or implied. To the fullest extent permissible under applicable law, Keating Advisors disclaims all warranties, express or implied, including, but not limited to, implied warranties of title, noninfringement, merchantability, and fitness for a particular purpose. Your use of the Keating Advisors website and any materials provided throughout is undertaken entirely at your own risk. You acknowledge that in no event shall Keating Advisors be liable for any loss or damages arising from the use of the products or services. Keating Advisors shall have no liability for lost profits, salary, special or consequential damages, foreseeable or not, regardless of whether such damages result from the failure or inadequacy of any exclusion or other remedy.

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