No More Salary Secrets: What NYC’s New Law Means for Job Seekers and Employers | WSJ 

The fact that this wasn’t a law already is insane

Of course companies don't want this to happen. It is basically improving the free market by reducing asymmetric information where employers have historically had a huge leg up to underpay.

3:48 "The idea that somehow you're putting out there the maximum you will pay cuts you off from talent and gives your competitors an opportunity to outbid you." 🙄 "Cuts you off from talent" = Significantly reduces the number of applicants because people will know not to waste their time applying for jobs with a salary floor lower than what they want to make. "Gives your competitors an opportunity to outbid you" = Allows job seekers to look for a better offer somewhere else.

Can we get transparency for healthcare costs too?

"Employers at disadvantage" that just an insane statement! If an employer wants to specify other benefits they can.

If you truly believe in competitive markets, well price is a signal and so is salary. Labor needs to have all information to make an informed decision on application. Hate to apply for a job only to waste your time because the pay grade is below your expectations.

Companies posting salary range for position: From $30,000 to $200,000

The absurd excuse of the CEO of Partnerships "we can not Display the salary as it is a component of a bigger compensation". Humm, fair enough, so why don't the companies display the big picture of compensation. Problem solved.

Companies: we will spend money that could help our workers to fight laws that are trying to help our workers!

Same thing was introduced in Lithuania 4-5 years ago. Business were also "very concerned". It turns out they were concerned about the competition from other companies!

I am curious how this will work in practice. In Austria there is a similar law, which accomplished very little. Now (almost) all job postings contain a generic sentence: "Will pay at least X €, total compensation can be higher given qualifications and employee profile." Where most of the time, X is the lowest wage employers are legally allowed to pay. (Austria has no real federal minimal wage but a complicated system of forced collective bargaining and thus the "minimum compensation" differs from sector to sector.)

This should go a long way to ensuring pay equity.

80k for a mid level software engineer in NY is pretty terrible tbh. Shows the disparity between tech firms and companies that have an IT division

In an era of remote work, this will just push more companies out of the state. Just means more growth for Texas.

There are no downsides. They should be fully transparent. They should also show how much the CEO is making.

"The idea that somehow putting out there the maximum you will pay cuts you off from talent and gives your competitors the opportunity to outbid you!" Oh no, the horror! Not higher salaries! Anything but that!

Companies benefit from this by knowing what the applicant will accept beforehand.

Next, do airline fares since we know everyone paid different amounts for basically the same service. And what about job searches that don't post information, like for most executives?

Wonderfull initiative Heartiest congratulations

Good. Companies always have the advantage without measures like these.

Pro-maket individuals should support the policy, since knowledge of price is crucial to efficient allocation.

I am scrolling jobs online and no one mentions the pay 😒😒

Employers already give this out if you ask.

Why are we still peddling the wage gap misinformation in 2022?

The Gender Income inequality has been debunked for years. The statistic in the video disregards work hour and job type, therefore is hugely misleading

Yay, no more getting lowballed and having to guess your worth.

Good move but as well close loopholes

250k is peanuts for companies

Job market is supposed to be free market, right ?

How about something similar for automobile pricing.

Putting aside how I absolutely agree with this I can't help to ask: how is the WSJ still comparing salaries for all women to those of all men...? I thought we had that conversation a million times: compare earnings at the same position.

Hmm couldn't companies just band together and create a range for specific roles then? Would negotiations still play a role or would these salaries be firm?

Small businesses need fewer regulations, not more.

but will it mean jobs? wsj, hire me

Why is that bad for hospitals? Keep healthcare sector salaries down while other industries can make money?

Will this drive up salaries.

The pay gap is a lie.

Interviews for a job that posted “competitive salary” Did a series of tests just to find out at the end the pay was joke. A waste of time…

Excellent decision, and must be enforced. Companies expect us to say what our current salary is, even what our expected salary is, and what's the reason behind that. But they themselves can't even state their salary range!

This is going to cause a lot of quitting for a better job, at least initially.

This should be national law

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Socialism populism statism exactly like in Brazil.

I ❤️ NYC

Can't watch a single video from US, without mention of "minorities"....

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This should be a federal law

Exactly, NY, like Vegas and SF silicon valley will have to entice or be honest to get people back!

Compensations? Then show it also publicly. If you really want the best of the best employees then you should be willing to pay more than the average

Seemes all those company just want to walk out from nyc

Can we please have more of this!!??

Greats news. It should become federal law right away. AND make all the benefits transparent too since the business leaders are soooooooo concerned about that.

This happens only in America I guess

More than reasonable

CEOs benefited from this similar law. It’s driven. up their salaries.

Nonsense. Prison time for ya convict

2:27 "relatively few women work in natural resources, construction, and maintenance occupations and women are far more concentrated in office and administrative support jobs." - Highlights of women's earnings in 2020, U.S. Bureau of Labor Statistics

Yoo the business club whatevs argument is bull all those employee benefits weather capital or otherwise still have an assigned value. Meaning there's still a gross taxable amount at the end of the year you could take from all the people working across the industry in that role and average so they can shove it

Hope this is followed up and put into practice, the employers will use every dirty trick to kill/ stop it from creating a level playing field for employees across the board!💰⚖

@3:20 Such a stupid argument from her. If a company can't compete on salary they can still compete on compensation packages.

👏

Hmmmm. Sounds like a can of worms has been opened with this topic.

Are you comparing the pay between women and men and across racial groups from same job positions?

All Americans need more salary increase, Brandon!!!​

Great law!

20 seconds in and they are already talking about gender and skin colour. I mena seriousy, can we just get ONE video that isn't about gender and skin colour? Seriously!

So businesses must disclose the pay for a job posting, but employees don't have to disclose they amount they've actually been paid? If pricing matters (and it does), ensuring they are both disclosed is required. And as government forces ever more benefits instead of wages, this is just bizarre. Total compensation always matters.

Fiannly

Not a fan of the lefties in NY, but this is lovely, absolutely brilliant.

Hi friends

Unless you work in govt no two people will ever get same money...and they shouldn't even think about getting same exact money. All of us have different work outputs, different college background and different bargaining skills. This law will achieve nothing except making NYC politician look progressive, go and figure out what happened in Austria ( the one without Kangaroos (

Nice law 👍 this kind of law should be mendatory in all countries

Minority nonsense always enters into the conversation.

In theory this works but in practice it won’t as you can’t shoehorn everyone into a bracket. Two people of any background starting a role with exactly the same skills is unlikely, in practice everyone is different and brings different skills and experience to the table, this is why there has to be at least bandings to account for this. Can’t see this being a particular good move we’ll see. My guess would be all the good candidates will leave to another state and everyone in NY will be wondering what they can’t fill positions anymore.

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it will affect small businesses? then stop making businesses if you can't afford it.

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Anything that helps middle class will be resisted by business

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Dumb law that will have dumb outcomes. The government shouldn't force negotiations between 2 private parties