Wage Prediction Model
Introducing JobTech’s Proprietary Wage Prediction Model
Simple Summary
This model predicts how much a job might pay on average and how wide the salary range could be. It looks at the job title, company name, required skills, and years of experience (YOX). The model learns from past job ads where the salaries were known.
What Goes In:
- Job Title & Company Name: The model reads these like a person reads a sentence, understanding the context and meaning.
- Skills: Each skill is turned into numbers the model can understand, based on a list it has learned from.
- Years of Experience (YOX): A number that tells the model how experienced the person is.
How It Works:
- It uses two “smart readers” (BERT models) to understand the job title and company name separately.
- The model then combines this understanding with skill and experience information.
- Skills are checked for how important they are to the job.
- Years of experience are used to adjust the salary prediction (more experience usually means higher pay).
What It Predicts:
- Average Wage: How much someone might earn in this job.
- Wage Radium: How big the salary range could be (e.g., is the pay pretty fixed or could it vary a lot?).
In short, the model predicts both how much a job pays and how wide the pay range might be, based on the job details and your experience.
