Automotive Salary Tools Key Terms

Know automotive salary tools key terms to help calculate employee compensation and benefits

Learning how to determine automotive employee base salaries, compensation and benefit rates can be a difficult thing to do for any business owner, no matter the size of the business. Thankfully, working with automotive salary tools such as salary ratings, reports and software programs will help take the stress out of this task. There are key terms used for each of these programs that describe functionality. Learn the key terms for automotive salary tools to find the salary tool that meets the needs of your business so that you can get the job done efficiently and correctly.

Online salary calculator

An online salary calculator is a great way to determine automotive employee salary ranges. Type in the name of the automotive position and any other information that is required and the online salary calculator will give a listing of salaries. Some online salary calculators use information including years of experience and location to determine employee salary information.

Industry specific salary reports

Most employers don't have the time to create salary reports for all of their staff, but thankfully there are businesses that will generate these reports for you. Once job positions and other information has been entered, industry specific salary reports can generate analyses about automotive positions including job descriptions, total annual direct compensations and demographic estimates.

Occupational Outlook Handbook

The occupational Outlook Handbook was created by the Bureau of Labor Statistics and includes statistical information about earnings of automotive employees. Employers can take this information and apply it when determining employee salary ranges.
Bureau of Labor Statistics to find automotive salary information.

Salary wizard

A salary wizard is an online tool that can generate analysis about base salary, bonuses, benefits and pay checks for employees. Automotive employers simply need to enter the name of the positions and receive a full statistical report.

Salary and compensation software

There are many types of salary and compensation software programs available that automotive employers can use as salary tools. These types of software programs can generate reports for thousands of different job positions including those in the automotive industry, as well as manage compensation benefits and performance strategies.

Profession-specific salary surveys

Profession-specific salary surveys offer those in the automotive industry the ability to rate and compare salary information for more than one type of position. This type of salary tool is essential for automotive dealerships and others who have many employees and need to have comparative information about hourly rates, bonuses and vacations.