What do LinkedIn and Benjamin Franklin have in common? They make your piggy bank a little heavier…Welcome to the family: LinkedIn Salary.

You can now get a gauge on average salaries through LinkedIn’s newest product. Here are the three things you need to know about this new product:

#1: Who is LinkedIn Salary for?

· Job seekers: Discover your earning potential

· Professionals who are hiring talent: Offer competitive compensation

Bookmark this page on your web browser: LinkedIn Salary. Over time, more and more data will become available, including bonus and equity data for specific job titles.

#2: What insights are available in conjunction with salary?

Average salaries will vary based on:

  • Location
  • Industry
  • Company size
  • Education level
  • Field of study
  • Years of experience

The insights available are based on member input. Also, remember this product is in its infancy. For example, at the time of this post in the screen shot below, I searched for Sales Manager salaries in the Greenville, South Carolina area and the data provided is based on only 42 LinkedIn members within the last 12 months.

#3: What do you need to have access to LinkedIn Salary? LinkedIn Premium

The current plan is to roll LinkedIn Salary out globally in 2017, but today it is available to LinkedIn Premium members in the U.S., Canada and U.K.

Don’t have LinkedIn Premium? Watch this brief video on LinkedIn Salary:

If you are sourcing, recruiting and hiring top talent, make sure the compensation you are offering potential candidates is competitive. Keep your eye on LinkedIn Salary as another tool to stay relevant.

Be more prepared to talk about your earning potential when you go through the interview process. Use LinkedIn Salary in combination with Glassdoor (although, I foresee LinkedIn Salary replacing it soon) to prepare the ‘money conversation’ with your future employer.

The possibilities for this product are great. As LinkedIn puts it,

“We hope to give professionals around the world access to salary data they can trust, so they can make more informed decisions on where to work, what to learn, and how to evolve their careers.”

This post was originally published on LinkedIn.