LinkedIn launches new tool, LinkedIn Salary, to help users know their worth

LinkedIn is digging into its data to help users know the amount of money they should be earning. The professional network's new tool, LinkedIn Salary provides detailed information on the factors that impact people's salary - from location to experience.

However, people who want to use LinkedIn Salary, would need to tell the platform how much money they were currently earning. LinkedIn would however, keep users' salary data encrypted, and it would remain separate from their identity and profile.

''Recruiters won't be able to see your salary data, or access it in any way. In fact, no one will be able to see your salary data,'' writes the company in its help section. ''When you submit salary data, your input is encrypted with RSA-2048 technology. This helps us ensure that your information is stored securely and remains protected.''

LinkedIn Premium members, would however, be able to access the tool without the need to provide their salary information.

The feature uses bold visuals to provide a complete picture of users' chosen job title, as also a detailed distribution of base salary, and additional factors including stock and annual bonus offered by certain industries.

With the feature, users can compare their salary with people in similar jobs and learn how experience, education level and location might or might not factor in the salary calculation.

Ryan Sandler, a product manager at LinkedIn said "There are options our members can potentially take to make more money, whether it is finding a new job, getting another degree, learning new skills or even relocating," he said. "We want to help them understand what decisions they can make now to help increase their salaries down the line."

LinkeIn has come out with the salary feature two weeks after rival job-search site Glassdoor released a similar product called Know Your Worth.