Compensation benchmarks provide standards for evaluating and comparing salary and benefits across industries and roles. ## Core Components ### Salary Data - Industry averages - Role-specific figures - Geographic variations ### Benefits Analysis - Health insurance - Retirement plans - Paid time off ### Market Trends - Economic factors - Demand and supply - Competitive landscape ## Application 1. **Salary Negotiation** - Informed discussions - Competitive offers - Fair compensation 2. **HR Strategy** - Talent acquisition - Retention planning - Budget allocation ## Best Practices - Use reliable sources - Consider total compensation - Regularly update data