At a time when more people are being more demanding about the salary they expect from a job, a New York City law would mandate employers with 4 or more workers to include a salary minimum and maximum in job advertisements.
New York City job seekers are coming tantalizingly close an upfront answer for a critical question: how much money can I make in this position?
“On Thursday, New York City Council Members amended the pay-transparency law, delaying its implementation until Nov. 1.” Though Wylde and other business leaders felt the initial version passed through without business input, the revised law showed the local legislators’ willingness to consider business perspective. “The result will be to more quickly achieve our shared goals of racial and gender pay equity,” she said in a statement.
One third said their company is very transparent, while another 32% say their company is a little transparent and 35% said their company is not transparent. “One of the reasons why we continue to see persistent pay disparities both in gender and race is so much of the process and decision-making about salary is hidden or secretive,” said Valerie Wilson of the Economic Policy Institute, a left-leaning think tank.
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