Which of the following is a free or complimentary source of market data?

Which of the following is a free or complimentary source of market data?

• A. Consulting firms
• B. Trade associations
• C. Private salary databases
• D. Corporate salary reports

Answer: (B)

Trade associations serve as a free or complimentary source of market data because they often collect and publish industry-specific information that is accessible to their members and sometimes the public. These associations regularly conduct surveys and research, providing valuable insights about salary ranges, benefits, and employment trends within specific sectors. Since trade associations aim to advance the interests of their industry, they tend to share this data widely to promote transparency and foster competitive practices among their members. In contrast, consulting firms typically charge for their services and the detailed market studies they provide, making them an option that incurs costs. Private salary databases usually operate on a subscription or fee basis, hence they are not considered free. Corporate salary reports are proprietary data owned by individual companies and are not freely available to the public, thus they also do not fit the criteria of a complimentary source of market data.

Trade associations serve as a free or complimentary source of market data because they often collect and publish industry-specific information that is accessible to their members and sometimes the public. These associations regularly conduct surveys and research, providing valuable insights about salary ranges, benefits, and employment trends within specific sectors. Since trade associations aim to advance the interests of their industry, they tend to share this data widely to promote transparency and foster competitive practices among their members.

In contrast, consulting firms typically charge for their services and the detailed market studies they provide, making them an option that incurs costs. Private salary databases usually operate on a subscription or fee basis, hence they are not considered free. Corporate salary reports are proprietary data owned by individual companies and are not freely available to the public, thus they also do not fit the criteria of a complimentary source of market data.