The University of Wisconsin–Madison is committed to attracting, retaining, and rewarding a highly qualified and diverse workforce. By comparing compensation of UW jobs with similar jobs in the labor market, the university can create a market-informed salary structure to help keep and grow our outstanding workforce.
What is a Market Study?
A market study is the process of comparing how an organization pays its employees against how other organizations pay their employees for similar jobs.
To be a competitive employer that attracts and retains highly qualified employees, UW–Madison analyzes market data to determine whether our pay and benefits are below, at, or above our market peers.
Who are UW–Madison’s market peers?
Market peers are other employers the university competes with to hire for similar jobs. These employers are similar to UW–Madison in industry, size, and/or revenue and are also referred to as peer group or peer market.
The university reviewed market data from over 1,000 organizations across various industries in the United States. These organizations include, but are not limited to, higher education and healthcare.
What is market data?
The university purchased market data for jobs in peer markets that match jobs at UW.
Market data includes information such as:
- Job title
- Job description
- Base salary
- Total dollar value of compensation, including paid time off, insurance, and retirement
This market data is used to build the new UW salary structure. Although the university cannot make the proprietary market data purchased from vendors* publicly available, the university will continue to review market data regularly in the future and adjust the UW salary structure based on trends in the market and internal organizational structure.
*Vendors who specialize in collecting and verifying market data include Willis Towers Watson and College and University Professional Association for Human Resources (CUPA-HR).