LinkedIn is introducing a new feature, one of its biggest product updates of the year - a salary calculator. The new tool is called "LinkedIn Salary" and lets users anonymously submit and view salary information across fields. The tool, which is free for any LinkedIn members who anonymously contribute their compensation information (Premium members are not required to share any pay information) shows users a base salary range for a particular role as well as insights into equity and bonuses. The tool can be adjusted to reflect a professional’s experience, skills, education level, company size, industry and location.

For now, the feature is available to all users on desktop and the mobile web in the U.S., Canada and U.K. and is expected to roll out globally in 2017.

LinkedIn says that the ultimate goal of the tool "is to help professionals optimize their earnings by suggesting steps they can take, skills they can build or changes they should consider to earn more or boost their long-term potential."

The company said users’ salary information is immediately encrypted and remains private.