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ThinkWhy uses several techniques to validate its salary recommendations, including Natural Language Processing (NLP) and statistical methods to validate ThinkWhy’s recommendations against publicly available and third-party payroll data. Additional validation is done through primary research sampling run by an independent data collection firm. Rigorous applications of these approaches, at scale, allow ThinkWhy to provide reliable data for job titles at the national level and across each U.S. metro area.
No, we do not charge you fees to get started on our platform.
As part of our Subscription onboarding process, and at no additional cost, you will be assigned a dedicated Client Success Manager to help you get started.
ThinkWhy updates data based on the published cycles of our source data. The timing of the different data sources varies monthly, quarterly and annually.
To provide predictable and consistent reporting, LaborIQ releases all data updates monthly, on the first working day of the month for actual releases, and notifies users when new data is live and in the product via their Notifications, which are accessible from the LaborIQ navigation pane.
To subscribe, see the LaborIQ Plans page. You can also contact our sales team at info@thinkwhy.com or 972-961-4274 to secure a subscription.
Once you have selected a subscription level and confirmed payment, you will receive an email verification with login information. As a subscriber, you will receive immediate access to labor economics, compensation data and customizable dashboards. You may use Guided Labor Solutions to navigate or select hands-on support and training from our Client Success team. There are no additional fees for live training and support.
Our metro areas are based on the boundaries and definitions issued by the U.S. (OMB), which includes the counties of the major cities in each MSA (Metropolitan Statistical Area). LaborIQ reports on all metros nationwide and forecasts for the top 150 metro areas (MSAs) in the U.S.
LaborIQ displays the Metropolitan Statistical Areas and NECTAs according to the 2010 OMB definitions. Updates from the 2018 OMB have not yet been applied by the U.S. Government offices to data sources. We will notify LaborIQ clients when the new definitions are made available and applied on the platform.
Metropolitan Statistical Area 368 Metropolitan Division 28
NECTA 21 NECTA Division 10
Our expert insights and proprietary forecasting models are available for the top 150 metro areas (MSAs), in addition to U.S. national labor reporting. The top 150 metro areas are defined by population size and as reported by The U.S. Bureau of Labor Statistics. Subscribers have access to all metros in the U.S.
If you need help finding a metro area or would like to inquire about adding a metro to our forecasted list, please contact us at clientsuccess@thinkwhy.com
ThinkWhy has enabled a Walk-Me navigation within your account. It will guide you through steps to customize your dashboards. For additional help, your Client Success Manager can take you step-by-step through the process. Contact clientsuccess@thinkwhy.com.
You can use major credit and debit cards (e.g., Visa, Mastercard, American Express, Discover), as well as ACH.
For paper check payment, or any other questions, please contact info@thinkwhy.com.
Additionally, over 130 different currencies are accepted; funds will be converted and deposited in USD for a 1% fee.
Subscriptions are an annual contract agreement and cannot end early. You may opt out of auto-renewal in the initial subscription process. Please refer to the language in your Terms of Service.
To turn off the auto-renew setting:
- Navigate to your Account Settings
- Click on your name in the upper-right corner of the screen
- Click Account Settings > Plan & Billing History > Current Plan Information
- Toggle the setting to adjust your auto-renew preference
If you have any questions, please contact your assigned Client Success Manager or email support@thinkwhy.com.
LaborIQ subscriptions are billed on an annual basis, by default. However, you do have the option to pay on a quarterly basis, but you will maintain financial responsibility for all payments during the 12-month subscription term.
More information about our invoicing and billing process is available here.
If you have any questions, please contact us at 972-961-4400 or email us at support@thinkwhy.com.
LaborIQ Metro Areas uses data sourced from multiple public locations. including:
- The Bureau of Labor Statistics (BLS)
- The US Census
- The Bureau of Economic Analysis (BEA)
- Integrated Postsecondary Education Data System (IPEDS)
Data is sourced and combined into ThinkWhy’s proprietary database for use within our customizable dashboards and reporting, and then augmented with additional sourced data and validated against multiple sources.
Achieving the most valid and trusted forecasts for supply, demand, and wage numbers, we study various reports, trends, and economic conditions, e.g. current supply of an occupation within a market is captured by the BLS. Some data points captured by the Census help us understand which markets people are moving to and away from, which is one aspect of the economic puzzle used to predict future supply.
With so many data sources available in the market, getting answers to common business needs is either too complex, too time consuming, or simply not affordable for many business leaders. ThinkWhy’s mission is to solve common business problems and provide easy access to answers.
LaborIQ Salary Information (Labor Insights and Labor Benchmarking) uses a propriety model to predict salary, which includes data sourced from multiple occupations, including:
- The Bureau of Labor Statistics (BLS) - Surveys
- The Bureau of Labor Statistics (BLS) - Standard Occupation Classifications
- U.S. Department of Labor, Employment & Training Administration - O*NET
- Publicly available job reporting data
- Primary research using an independent data collection and validation method
This data is compared with your own firm’s uploaded data to run calculations vs. ThinkWhy’s predicted market numbers.
If you are interested in a multi-year subscription or a subscription beyond what is offered in our current plans and pricing, please contact info@thinkwhy.com.
Only users assigned to your account will be able to view the information uploaded for your Organization. The Primary and/or Billing Contact are the only users who can edit this information and view your profile details. Otherwise, your profile is protected information.
Note that the same person may serve as both Primary and Billing Contact. You may elect to share any customizations with colleagues who share a company account.
LaborIQ data tables, images and reporting are already cited for you upon download.
Additionally, you have the ability to upload and use your company logos as labeling for downloadable reports.
When citing or using data sourced from LaborIQ or information obtained from Labor News, we suggest the following: “Source: LaborIQ™ by ThinkWhy® , accessed on INSERT DATE”.
LaborIQ software cannot be used offline; however, all reports and dashboards are available for download, enabling access regardless of internet connection.
LaborIQ is only available for purchase by users within North America. ThinkWhy is taking steps to become GDPR compliant. Users may contact their Client Success Manager to have their personal data sent to them, and can request to have their data deleted at the end of their subscription term.
Yes. You can assign additional user licenses to your subscription under Account Settings > Accounts & Users > User Accounts > “Add Users”.
For support or questions, your assigned Client Success Manager is available to assist you and can be reached at clientsuccess@thinkwhy.com(mailto: clientsuccess@thinkwhy.com).
To ensure uninterrupted use of your LaborIQ data and dashboards, subscriptions are set to renew twelve (12) months from the start date. Auto-renew can be turned off by the Primary Admin on your Account any time before the 30-day renewal window.
For Primary Admin access, click on your username (top right corner) > Account Settings > Plan & Billing History > Current Plan Information.
Subscriptions are one-year or annual terms. Multi-year subscriptions are also available.
Thinkwhy’s team of experienced Economists and Data Analysts use sound Econometric principles to create forecasts. For the current year, each market’s forecast outputs are well vetted by our team of economists who study market conditions. Validation occurs by “back-casting” actual vs. predicted results, as evaluating forecasting methodology to historical actuals provides useful information.
We have a team of Economists and Data Scientists and advanced AI, which allows us to provide monthly data and updated forecasts quarterly. Our forecasts are updated on the first day of each quarter. This allows business users to make labor supply, wage data and expense decisions quickly and easily.
The Primary Admin for your account may schedule onboarding from their LaborIQ Account Settings. This link can be found within the Account & Users section, next to User Accounts. Any user assigned to your LaborIQ account may attend onboarding.
Each licensed user has the ability to customize the data visualizations and views displayed on their private dashboards.
Users have the ability to share their custom dashboards with other licensed users in their organization’s account.
