How useful is it if you know the salary for the job, or at least the potential salary range, before you go through the entire application and interview process?
Well, there’s artificial intelligence for that too.
Employers are obviously reluctant to disclose salaries at the application stage, but Stanford Institute Human-centered artificial intelligence Researchers are helping to overcome this obstacle with the help of artificial intelligence, so that potential employees can decide for themselves which vacancies are worth their time.
A survey of 6,000 British professionals found that 81% of us cite salary as the most important factor when looking for a new job, yet the issue of transparency around earning opportunities remains.
Employers simply do not want to disclose their salaries, despite the fact that positions advertised with salaries usually receive twice as many successful applicants.
According to a BBC report, in 2019, only 12.6% of companies worldwide disclosed salary range in job advertisements.
This number is growing, but not fast enough. The report goes on to explain that companies that “talk openly about wages can attract better and more diverse talent, making wage transparency a viable way to create fairer workplaces.”
Sarah Bana of the Digital Economy Lab at Stanford is training AI to help predict salaries. His research proves itSince the “text of job advertisements is written in the language of everyday life”, salaries can be fully predicted using a technique called Transfer Learning.
Essentially, AI could give potential workers more opportunities to choose between jobs, rather than applying for everything only to be disappointed. According to him, this will “make job application more transparent and improve our approach to workforce education and training.”
This option is not yet publicly available, but it may help a lot of people soon.
Have you entrusted your job search to artificial intelligence?
