With a premium subscription you have access to our Warp Speed Wages tool. This tool allows you to query our vast database to find hourly wages for over 6000 occupations, quickly calculate the reasonable compensation figure for a management position in 105 industries, or use the income approach calculator to obtain a reasonable comp figure in warp speed.
1. For cross industry wages (used in cost reports) you’ll start by selecting the state and county you wish to query.
You can then type in the desired job title and view the occupation’s wages at 5 different percentiles.
2. For industry specific (used in market reports) you’ll start by selecting the industry, year, management occupation, and location. You’ll then select the inputs you wish to query and our suggested reasonable compensation figure will appear along with a range at the national, state, and local level (if you selected one).
3. The income approach calculator is what we use for income reports. You will need 3 pieces of information to calculate a reasonable compensation figure:
1. Fair market value at the beginning of the year
2. Estimated increase in fair market value at the end of the year (before owner compensation)
3. Target return