Should You Skip Updating Your Survey Data? Nope. Here’s Why.
You might think, “Pay doesn’t change that much year to year, right?” That outdated mindset has led some employers to rely on simply aging salary survey data instead of getting updated information. Aging salary data means taking past survey results and applying annual pay increase estimates (like those in The Comp Consultants’ Comp Tool) to bring them up to date. Sounds simple, but the problem is that a single adjustment rate is often applied across all job types, which can lead to some big inaccuracies.
Here’s why relying on aged data is a mistake in today’s fast-moving labor market—and why fresh data from sources like The Comp Consultants are worth it.
1. Outdated Data Masks Real Pay Trends
The labor market has been anything but predictable in recent years. Employers have been offering premium pay to new hires and mid-year retention increases to hold onto their talent. Now, as things settle down, organizations are resetting their compensation strategies.
If you’re using aged data, it might not reflect:
- The demand for certain high-priority skills.
- Changes in job responsibilities.
- The impact of inflation.
To make smarter pay decisions, you need to know which jobs are seeing increases above or below average. Aged data won’t give you that insight, but fresh data will.
2. Missing Out on “Hot” Jobs
Business is changing fast—whether it’s how doctors treat patients, how retailers sell products, or how services are delivered. Jobs that were critical last year might be replaced by entirely new ones in 2025.
Technology-driven roles are a prime example. Companies may focus their budgets on specific IT roles, but not all IT roles equally. If you rely on old data, you might miss emerging high-demand jobs and lose out on the talent your business needs. Updated, yet affordable data helps you identify these shifts so you can focus your resources where they matter most.
3. Misaligned Incentives
Short-term incentives are becoming a bigger part of pay strategies, rewarding employees for performance and results. But if you’re setting incentive targets based on aged data, you could:
- Set unrealistic targets that frustrate employees.
- Fail to align incentives with current business goals.
Accurate data from fresh sources helps you understand how to structure total compensation—base pay and incentives—so it supports your organization’s objectives and keeps employees motivated.
4. Making the Most of Your Budget
Participating in and purchasing fresh salary surveys annually helps you:
- Lock in discounted rates for survey publications.
- Pay employees appropriately without overspending.
- Use your salary and annual increase budgets strategically.
If your survey budget is limited, make sure you’re working with a provider that offers dependable data and great customer support. The Comp Tool, delivered via The Comp Consultants, is updated annually to cover a wide range of industries and roles, with expert guidance to help you stay competitive all at an affordable price.
The Bottom Line
The labor market is too complex and fast-changing to rely on outdated salary data but with costs skyrocketing it’s important to have a substantiable solution that you can rely on. No need to spend thousands and thousands of dollars for up-to-date information. Best yet, our data is updated annual so that you can:
- Stay competitive.
- Make informed pay decisions.
- Get the best value from your survey budget.
Still have questions about how fresh data can help your organization? The Comp Consultants are here to guide you every step of the way. Don’t let aging data hold you back—stay ahead by investing in accurate, up-to-date salary data.