How helpful would it be if you knew the salary for the job, or at least the potential salary range, before you went through the entire application and interview process?
Well, there is artificial intelligence for that too.
It’s clear that employers are reluctant to disclose salaries at the application stage, but the Stanford Institute for Human-Centered Artificial Intelligence researchers are helping to overcome this obstacle with the help of an AI, so that prospective employees can decide for themselves which job postings are worth their time.
A survey of 6,000 UK professionals found that 81% of us cite salary as the most important factor when looking for a new job, and yet the question of transparency about earning opportunities remains.
Employers simply don’t want to disclose salaries, despite the fact that job postings with salaries typically receive twice as many successful applicants.
According to the BBC report, in 2019 only 12.6 percent of companies worldwide disclosed the salary range in job advertisements.
That number is growing, but not nearly 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 Stanford Digital Economy Lab is training artificial intelligence to help predict salaries. His research proves itthat since “the text of the job advertisements is written in everyday language”, the salaries can be fully predicted using a technique called “transfer learning”.
Essentially, AI could give prospective workers more chances to choose between jobs, rather than applying for everything only to be disappointed. According to him, this will “make applying for jobs more transparent and improve our approach to workforce education and training”.
This option is not yet available to the public, but it could help a lot of people soon.
Would you entrust your job search to an AI?
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