The Market Approach: AKA the industry standard approach compares the business owner’s compensation to the compensation of a CEO or General Operations Manager within an industry, location, number of employees, profit, and proficiency level. This approach is typically used at medium to large sized companies where the owner is primarily managing the company (not working within the company).
Click Here to view a sample of a Market Approach Reasonable Compensation Report.
The Market Approach Interview:
This is a short interview that only requires 9 inputs. This approach does not offer the option option to have your client input their own data. Instead, you will input the information yourself.
Select the client you wish to run a report for from the Clients tab, and then click New Report.
Select the Report Purpose and click Next.
NOTE: For more information on each purpose hover over the icon:
Select Market Approach and click Next.
Select the options for your client from each drop-down and select Next.
NOTE: For more information about select fields, hover over the icon:
Select the wage option you would like to use and click Save to Client.
The report is now saved and can be viewed in the Client’s profile by selecting View PDF under the Action icon.
Click Here to view a sample of a Market Approach Reasonable Compensation Report.
NOTE: The report will automatically Finalize 30 days after it is created.
NOTE: You can Finalize the report any time before this. Click Here to learn how.