Which source of data is considered the most credible for building wage bands?

Government wage data tables are regarded as the most credible source for building wage bands because they are compiled and published by government agencies that have access to comprehensive and reliable employment data. These tables typically reflect a wide variety of jobs across different sectors and geographical locations, taking into account economic conditions, employment trends, and demographic factors. This data is gathered through rigorous methodologies, ensuring a level of accuracy and objectivity that is essential for making informed compensation decisions.

In contrast to government data, professional wage surveys often reflect a narrower scope of participation and may be influenced by the specific demographics or industries represented in the survey sample. While they can offer valuable insights, their credibility can vary depending on the methodology and sample size used.

Internet sources, such as salary.com or monster.com, often provide aggregate data from user self-reports and may lack the rigor of government data. These sources can be prone to bias since they rely on individuals' input, which might not be comprehensive or uniformly accurate.

Local industry groups can offer useful insights based on their specific market conditions; however, they may also provide limited or anecdotal data that doesn’t necessarily reflect wider trends or standards across the industry or the economy as a whole.

Thus, while all these sources have value, government wage data