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From the article, it isn't clear whether a pay range of minimum wage to 1 million euros would be in compliance with this new rule. This is an actual tactic that many US employers have used to follow the letter but not the spirit of salary transparency laws.
I would literally pay to see someone look a judge in the eye and tell them that that counted.
The two reasons I disagree with publishing salaries and "ranges" are that a) the implicit collusion creates mean reversion that disadvantages talent, who can afford to leave and go where they are valued and b) the values behind it presume that a job is something paternalistic granted by a manager in return for supplication, and not due consideration for value offered. Together these create a race to the bottom in off…
How does that work? Say 10 companies are competing for the best talent. All of them offer the public going rate, except 1 which offers 10% more. Guess where the talent is going? To the one that offers 10% more, and now the other 9 companies are incentivized to pay more if they want to attract top talent.
I don't understand how secretive salaries benefit anyone other than parties trying to get away with paying lower.
From the article, it isn't clear whether a pay range of minimum wage to 1 million euros would be in compliance with this new rule. This is an actual tactic that many US employers have used to follow the letter but not the spirit of salary transparency laws.
But this will be great for Italy because a huge problem of our labor market is that salary is considered something dirty. This law may create a better culture. I hope so.
Earlier quoted context omitted.
>a) the implicit collusion creates mean reversion that disadvantages talent, who can afford to leave and go where they are valued Doesn't this logic rest on the assumption that companies that pay better than average are doing it accidentally? Facebook has a reputation for paying better than many other tech companies for example. If I know that, Facebook surely knows that. Why would they stop doing that just because o…
It goes a bit beyond that in reality. Companies buy salary data for certain industry segments, then have a goal to pay within a percentile range. A company may say aim to pay on the 50-60th percentile of insurance companies for example.
It's incredible how many people here are against transparency and a better labor market providing more information to the supplier side. Lord knows companies have probably 80% of the leverage in the job market. Tech people are doomed not by AIs, but by lack of solidarity, raw greed and lack of long term vision.
It's incredible how many people here are against transparency and a better labor market providing more information to the supplier side. Lord knows companies have probably 80% of the leverage in the job market. Tech people are doomed not by AIs, but by lack of solidarity, raw greed and lack of long term vision.
I don't even understand how they would be against something that benefits them personally. I wonder if it's the mentality that "one day" they would become the IT moguls that own one of these companies, and wouldn't want this to disadvantage them?
Reality is probably quite different from that imagination.
We, as a company already know how much our competitors pay for a given role as everyone in the industry is buying and selling statistical data on their compensation structure through 3rd party agencies. Therefore, we can and do intentionally target, which salary band our positions should fall to in the broader market.
You have absolutely no way to negotiate your base salary above the band which was already known when we created the position. There could still be substantial differences, as even mid level roles have 30%+ difference in band limits. You can however, have the position to be upgraded or downgraded if certain circumstances met, but that's a new position with new salary ranges.
These regulations likely increase employee leverage, but to which extent, hard to tell. You should care about your total compensation anyway and neither cash bonus, nor equity is covered in the disclosure, although especially for senior positions, those are very substantial part of your compensation.