# What is Salary Benchmarking?

Salary benchmarking compares your pay to the market. SMEs use surveys and public data to price roles competitively. Good benchmarking improves offers, retention, and budgeting while supporting equal pay decisions.

Source: https://faqtic.co/glossary/salary-benchmarking

## Why it Matters for SMEs

- Competitive offers
- Better retention
- Equal pay support

## Example in Practice

HR logs market medians in Factorial and maps them to bands.

## Frequently Asked Questions

### Which sources to use?

Surveys, job boards, recruiter input.

### How often?

Annually or on hot roles.

### Can software store data?

Yes, via custom fields.

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