Learn more


Compensation Wrapped

Ready? Continue to reveal the state of compensation in 2023.
Data sourced from: US Department of Labor Disclosure Data, Pequity Aggregated Compensation Data, Payscale, & CCER (Council of Community and Economic Research)

Median salaries for top paying professions

  • Medical Professionals - $268,912
    Hospitalists and Physicians, Neurologists, Surgeons
  • Technology Executives and Managers - $254,641
    C-Suite, VP, Directors
  • Specialized Dentistry - $250,214
    Orthodontists, Periodontists
  • Software Engineers - $208,652
    Staff, Principal at top technology companies
  • Architects and Engineering Managers - $188,240

Highest cost of living

According to The Council for Community and Economic Research, the cost of living index is a score on a scale where 100 represents the weighted average of goods across the US. The higher you are on this scale, the costlier it is to live. These figures come from data across CRER, census.gov, Payscale, and Pequity.
  • Honolulu, HI
    Cost of living index: 179
    Median 2BR apartment rent: $3,519
    Median Salary: $56,939
  • San Francisco, CA
    Cost of living index: 171.3
    Median 2BR apartment rent: $3,900
    Median Salary: $72,947
  • San Jose, CA
    Cost of living index: 169
    Median 2BR apartment rent: $3,180
    Median Salary: $59,913

Lowest cost of living

These figures also come from data across CRER, census.gov, Payscale, and Pequity.
  • McAllen, TX
    Cost of living index: 80.2
    Median 2BR apartment rent: $1,494
    Median Salary: $46,259
  • Atlanta Metro Area, GA
    Cost of living index: 82.8
    Median 2BR rent: $1,650
    Median Salary: $58,000
  • El Paso, TX
    Cost of living index: 87.9
    Median 2BR rent: $1,342
    Median Salary: $49,252

9.28% of employees got promoted this year!

Spanning across all Pequity compensation cycle results. Congratulations are in order!

2023's average merit increase was 4.40%

The median merit increase was 3.52%, spanning across all Pequity compensation cycle results. With inflation falling below 3.5%, average merit increases are beating inflation rates again!

Many people wonder how many comp cycles are enough -- looks like 1.22 is the magical number for Pequity customers

Most employees were paid slightly above midpoint

The average full-time salaried employee compa-ratio was 1.04 for companies that use Pequity, and have pay bands. Wondering what a compa-ratio is?


let’s get to the fun bits

The following insights are based on anecdotal records from Pequity prospects - and why they are looking to get up and running with compensation management software like Pequity.

On average, CEOs requested 3 'impossible' bonus formulas in compensation cycles this year

Can spreadsheets even do that...? Pequity can!

The typical compensation analyst wrangled data from over 113 spreadsheets this year

Couldn't have done it without the 1095 cups of coffee you drank!

Pequity pulls and organizes all your employee compensation data into a single hub, so you can cut back on that caffeine intake.

The average compensation leader not using Pequity made 392 mid-cycle updates after it was called “final”

"This last one should be it... right??"

Pequity data and logic can be seamlessly updated and overridden mid-cycle, so your team never misses a beat.
That's all folks!

Want to elevate your compensation stats in 2024?

See how Pequity can help your Total Rewards team
Learn more

See how Pequity can simplify and streamline your compensation program.

People are your most important investment. Compensate them right with Pequity.

More trust. More transparency. Less cost. Less risk.

Data & Security

Your data is safe with Pequity. With enterprise-grade security features like SOC 2 Type 2, GDPR compliance, MFA, SSO, and regular penetration testing - you no longer need to share sensitive compensation and employee data in spreadsheets.


Pequity is built around the familiarity of spreadsheets with the power of automation at scale. Pequity is designed to match the level of complexity and transparency for your unique compensation structure - meeting your program where it's at today, and taking it to where it will continue to grow.


Pequity is the single hub for all stakeholders to align on compensation. Communicate and collaborate with peers, leaders, managers, recruiters, business partner, employees, and candidates - to get everyone to champion your comp philosophy.

Culture & Brand

How you reward and motivate employees drives both your internal culture and external brand. From winning candidates to motivating employees - elevate your culture and talent brand with Pequity.

By Role

See how Pequity can simplify and streamline your compensation program.

Solutions for every stakeholder
in your compensation process

With Pequity, you can manage compensation in one single platform. No more switching between tools or spreadsheets. Communicate and collaborate on pay decisions, and builds trust across your organization with ease.


Save time and money with Pequity. See and control your employee compensation in real time.


Get comp data at your fingertips. Pequity’s chrome extension lets you see and offer competitive pay in your ATS.


Plan compensation with ease. Pequity gives you the comp data you need to reward and retain your best talent.

HR & Compensation

Create and communicate your compensation philosophy. Pequity helps you align your pay strategy with your business goals. Simplify comp cycles and free up your time.

Hear what comp leaders around the world are saying about Pequity

Solving compensation for leading brands
List of company logos that are active Pequity customers. This includes instacart, scale, trusted health, voiceflow, and may mobility

“Pequity makes updating and disseminating data easy - and lightens the load on the comp team for messy, chaotic, and fast-changing processes.”

Jess Chang
Senior Director of Compensation

“Pequity is powerful and flexible enough to handle our unique comp program, yet simple and intuitive enough for planners to breeze through it.”

Mark Francher
Chief HR Officer

“Our experience working with Pequity has been wonderful. The tool has supported May Mobility’s efforts to streamline our compensation processes while allowing team member to collaborate together when making key hiring decisions.”

Tom Tang
Chief People Officer
May Mobility

Get up and running with compensation

8 Smart Ways to Maximize Your Leftover HR Budget

As we settle into Q4, you may find you have some leftover budget that can be used to strengthen your HR team for the coming year. While having extra funds is a nice surprise, deciding where to spend it can be a challenge.Living in the HR software space, our team knows HR tooling. This includes what we currently use, what we’ve used in previous...

The True Value of Equity: 3 Things You Probably Don’t Know About Your Stock Program

Equity is marketed as everything from a lottery ticket that will make you millions to a direct path to help employee’s benefit from a company’s success – yet most employees don't understand how equity works. Stock...

The Importance of Analyzing the Right Compensation Data

In today's data-driven world, the importance of the right data and the correct analysis cannot be overstated. This holds especially true to compensation data, a topic that directly impacts the lives of individuals and the success of businesses. In fact the significance of accurate compensation data analysis is highlighted by incidents such as the recent...

See how Pequity can simplify and streamline your compensation program.