The interactive salary calculator is a flexible tool that makes it possible for you to get a quick overview of the salary levels under different circumstances.
IDA Salary Calculator explained
IDA’s traditional salary statistics display the members’ average salaries according to selected parameters – typically Education and Year of graduation, and sometimes one additional parameter.
If you want to use more parameters, like Level of position, Geography, and Line of business, the traditional average calculations become too uncertain.
The salary calculator can by means of a statistical model estimate the average salary when you take more parameters into account. This makes it possible to calculate a salary matching the specific member in much more detail.
The salary calculator is based on the members’ information on salary and employment terms in connection with the annual IDA Salary statistics.
The model used for the salary calculator is a multiple linear regression model. The model uses the fact that different parameters influence the salary in varying ways.
For example, the parameter Year of graduation influences the salary greatly as older engineers tend to have higher salaries than their younger counterparts.
Another parameter, Line of business, also influence the salary because in some lines of business the salaries are much higher than others.
The model uses these connections to estimate a total average salary taking the selected parameters into account.
However, if you only choose the parameters Private/public, Education, and Year of graduation, the salary calculator will give you the same average gross salary available in the general IDA Salary statistics.