View source for PayScale

{{Short description|American compensation software and data company}}
{{Infobox website
| name = Payscale
| logo = File:PayScale logo.png
| type = [[Privately held company|Private]]
| industry = [[Internet]]
| language = [[Multilingual]]
| registration = Optional
| current_status = Active
| foundation = {{start date and age|2002|1|1}}
| founder = Joe Giordano<br>John Gaffney
| commercial = Yes
| key_people = Chris Hays, CEO<ref>{{cite web|title=Payscale Management Team|url=https://www.payscale.com/why-payscale/executive-leadership/}}</ref>
| location = [[Seattle, Washington|Seattle]], [[Washington (U.S. state)|Washington]], U.S.
| homepage = {{url|www.payscale.com}}
}}
{{Use mdy dates|date=October 2021}}'''Payscale''' is an American compensation software and data company which helps employers manage employee compensation and employees understand their worth in the job market.<ref>{{Cite news|last=Darlin|first=Damon|date=2007-03-03|title=Using the Web to Get the Boss to Pay More|language=en-US|work=[[The New York Times]]|url=https://www.nytimes.com/2007/03/03/technology/03money.html|access-date=2021-10-13}}</ref><ref name="motley fool">{{cite web|last1=Bieber|first1=Christy|title=Pros and Cons of an Open Salary Policy|url=https://www.fool.com/careers/2018/06/28/pros-and-cons-of-an-open-salary-policy.aspx|website=The Motley Fool|accessdate=11 July 2018|date=28 June 2018}}</ref><ref>{{Cite web|last=Arrington|first=Michael|date=October 12, 2006|title=How Much Money Do You Make?|url=https://techcrunch.com/2006/10/12/how-much-money-do-you-make/|access-date=2021-10-13|website=TechCrunch|language=en-US}}</ref><ref>{{Cite web|last=Duryee|first=Tricia|date=August 29, 2005|title=PayScale shows you the money|url=http://seattletimes.nwsource.com/html/businesstechnology/2002455291_btinterface29.html|url-status=live|archive-url=https://web.archive.org/web/20120310222807/http://seattletimes.nwsource.com/html/businesstechnology/2002455291_btinterface29.html|archive-date=March 10, 2012|access-date=2021-10-13|website=[[The Seattle Times]]|language=en-US}}</ref>
==History==
The website was launched on January 1, 2002.<ref>{{cite web|url=http://investing.businessweek.com/research/stocks/private/snapshot.asp?privcapId=24326552 |archive-url=https://web.archive.org/web/20080624051345/http://investing.businessweek.com/research/stocks/private/snapshot.asp?privcapId=24326552 |url-status=dead |archive-date=June 24, 2008 |title=Payscale, Inc. on Business Week |publisher=Investing.businessweek.com |accessdate=2012-08-02}}</ref> It was founded by Joe Giordano and John Gaffney. Mike Metzger was CEO from 2004 to 2019. Scott Torrey, a 20-year veteran of [[SAP Concur]], started as CEO on August 26, 2019 and stepped down on November 16, 2021. Alex Hart was then named CEO in November of 2021.<ref>{{Cite web|url=https://www.bizjournals.com/seattle/news/2019/08/26/payscale-concur-new-ceo.html|title=Payscale names longtime Concur exec as CEO|website=www.bizjournals.com|access-date=2020-04-17}}</ref>
<ref>{{Cite web|url=https://www.geekwire.com/2021/tech-moves-payscale-ceo-steps-down/|title=Tech Moves: Payscale CEO steps down|website=www.geekwire.com|date=November 16, 2021 |access-date=2023-01-22}}</ref> In January of 2024 Chris Hays assumed the role of CEO.
On April 24, 2014, [[Warburg Pincus]] acquired Payscale in a deal worth up to $100 million.<ref>{{cite news|url=https://techcrunch.com/2014/04/24/warburg-pincus-buys-compensation-software-service-payscale-for-up-to-100-million/|title=Salary report generator Payscale getting up to $100M in deal led by Warburg Pincus|last=Cook|first=John|date=24 April 2014|accessdate=7 May 2014}}</ref>
On April 25, 2019, [[Francisco Partners]] announced a majority investment in Payscale at an enterprise value of $325 million.<ref>{{Cite web|url=https://www.geekwire.com/2019/salary-compensation-data-site-payscale-valued-325m-new-private-equity-investment/|title=Compensation data site Payscale valued at $325M after new private equity investment|last=Soper|first=Taylor|date=April 25, 2019|website=GeekWire}}</ref>
==Overview==
Payscale was developed to help people and businesses obtain accurate, real-time information on job market compensation. While Payscale started by crowdsourcing compensation data from employees to power its products for employers, its [[Software as a service|Software as a Service]] offerings have evolved to allow businesses to utilize multiple compensation data sources, including Payscale's Crowdsourced and Company Sourced offerings as well as data from other providers. Customers can also manage their employee compensation strategy and structure within the platform and perform robust compensation analytics.<ref>{{Cite web|url=https://www.g2.com/products/payscale/reviews|title=Payscale Reviews & Product Details|date=September 13, 2019|website=G2 Crowd}}</ref> For employees, the service works via the [[Internet]] by enabling individuals to submit their job profile and salary data, which is then compared to others like them. They receive a free report on their market worth.
The company generates revenue by selling SaaS subscriptions, compensation data and services to employers, to aid in determining correct market rates for hiring, benchmarking and budgeting, and by targeted advertising to employees that visit its website.
Payscale surveys its users' income and background, and since 2007, it has published an annual [[College and university rankings in the United States|ranking of American colleges and universities]] by their estimated [[return on investment]]. The rankings have been popular with the public but controversial among scholars of higher education.<ref>{{Cite web|last=Lederman|first=Doug|date=April 18, 2017|title=PayScale rankings of ROI have influence (and significant limitations)|url=https://www.insidehighered.com/news/2017/04/18/payscale-rankings-roi-have-influence-and-significant-limitations|access-date=2021-10-13|website=[[Inside Higher Ed]]|language=en}}</ref>
Payscale puts on an annual compensation industry event called Compference<ref>{{Cite web|title=Compference21 - The World's Best Modern Compensation Event|url=https://www.payscale.com/compference|access-date=2021-10-13|website=PayScale|language=en-US}}</ref> and publishes original research on compensation-related topics such as the gender pay gap, college return on investment and salary history.<ref>{{Cite web|url=https://www.payscale.com/data|title=Comp Research|website=Payscale}}</ref>
In 2021, Payscale merged with Payfactors, a leading competitor. The new company operates under the Payscale brand.<ref>{{cite press release |title=PayScale and Payfactors Join Forces to Create Compensation Technology and Data Powerhouse |url=https://www.payscale.com/press-releases/payscale-and-payfactors-join-forces-to-create-compensation-technology-and-data-powerhouse/ |access-date=27 December 2022 |work=Payscale}}</ref>{{better source needed|date=December 2022}} Later that year, Payscale acquired pay equity and compensation management company CURO.<ref>{{cite press release |title=Payscale Continues Growth Trend Through Acquisition of Pay Equity Analysis and Compensation Management Software Leader, CURO |url=https://www.payscale.com/press-releases/payscale-continues-growth-trend-through-acquisition-of-pay-equity-analysis-and-compensation-management-software-leader-curo/ |access-date=27 December 2022 |work=Payscale}}</ref>{{better source needed|date=December 2022}} In 2022, Payscale acquired Agora, a software development company focused on pay transparency and employee experience.<ref>{{cite news |title=Payscale Acquires Agora, Strengthening Unrivaled Portfolio of Compensation Data, Software and Services |url=https://www.payscale.com/press-releases/payscale-acquires-agora-strengthening-unrivaled-portfolio-of-compensation-data-software-and-services/ |access-date=27 December 2022 |work=Payscale}}</ref>{{better source needed|date=December 2022}}
== References ==
{{reflist|2}}
== External links ==
* {{Official website|https://www.payscale.com}}
{{DEFAULTSORT:Payscale}}
[[Category:Online databases]]
[[Category:Companies based in Seattle]]
[[Category:2002 establishments in Washington (state)]]
[[Category:Privately held companies based in Washington (state)]]
[[Category:American companies established in 2002]]
[[Category:Online companies of the United States]]
[[Category:Internet properties established in 2002]]
[[Category:2014 mergers and acquisitions]]
[[Category:Warburg Pincus companies]]