For our industry, it's effectively already required, right? Because of other jurisdictions that require it?
No, even for a remote position they can simply say "Not open to people living in CO etc."
NYC to require salary ranges be included in job postings
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Re: NYC to require salary ranges be included in job postings
#22While I am supportive of this, I expect a lot (majority?) of listings with ranges like "$40k-200k based on experience". (Or the example from the article, "$17-50/hr")
NYC's Fact sheet about the new law notes that minimum and maximum stated salaries must be in "good faith". Not a lawyer, but maybe this is space for class action lawsuits or something...
Salary Transparency Fact Sheet: https://www1.nyc.gov/assets/cchr/downloads/pdf/publications/...
Re: NYC to require salary ranges be included in job postings
#23For our industry, it's effectively already required, right? Because of other jurisdictions that require it?
There were a lot of WFH job postings from the past few years that said "No applicants from Colorado" because of their similar law.
CA and a few other states have recently enacted this same law though so it'll become a lot harder to avoid posting the salary if you want good candidates.
Re: NYC to require salary ranges be included in job postings
#24While I am supportive of this, I expect a lot (majority?) of listings with ranges like "$40k-200k based on experience". (Or the example from the article, "$17-50/hr")
“Expect $40k”
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Job done.
Re: NYC to require salary ranges be included in job postings
#25I get why employers would hate this, but overall, wouldn't greater transparency in the labor market drive economic growth by virtue of making the labor market more efficient by doing a better job of connecting skilled, hard-working and motivated employees with employers who can pay more?
By what mechanism does legally enforced transparency make the labor market more efficient?
By the same mechanism that makes it work for commodities and public equity markets.
Re: NYC to require salary ranges be included in job postings
#26For our industry, it's effectively already required, right? Because of other jurisdictions that require it?
No, even for a remote position they can simply say "Not open to people living in CO etc."
Reminder that if that's the case the company cannot have any employees in that state. Otherwise they have to have a real reason for limiting the geography i.e. the position isn't remote.
Re: NYC to require salary ranges be included in job postings
#27For finance and tech jobs the compensation will be tied up in performance bonuses and equity, so salary ranges aren't the most meaningful for these roles, except when there is no non-salary pay.
So?
Re: NYC to require salary ranges be included in job postings
#28This will make it a lot easier to gather financial data on individuals and target ads to people who make $x. If the job and salary are posted, it will be scraped, and compared to job titles in profiles at places like LinkedIn.
Can't you already estimate this pretty well from e.g glassdoor?
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Re: NYC to require salary ranges be included in job postings
#29For our industry, it's effectively already required, right? Because of other jurisdictions that require it?
There were a lot of WFH job postings from the past few years that said "No applicants from Colorado" because of their similar law. CA and a few other states have recently enacted this same law though so it'll become a lot harder to avoid posting the salary if you want good candidates.
I haven't seen those postings, but I imagine that would make a terrible first impression to potential candidates, effectively signalling that the company is committed to playing games with salaries.
Re: NYC to require salary ranges be included in job postings
#30It has been this way in Colorado for some time, and it has been nothing but fantastic.
Can you please expand on this a bit more? I live in Colorado and saw virtually no change when looking for a new job inside and outside of the state last year. I did run across a few "no job applications from CO" as was mentioned in other comment threads, but most job postings I saw did not post salary information.