Career consultant and TikToker Miriam recently went viral for discussing a career mobility “hack” that has the potential to yield higher salary increases for employees in a shorter amount of time: job hopping. READ MORE
How salary benchmarking by employers affects workers’ pay
A wave of pay transparency laws aimed at reducing inequities is giving millions of workers access for the first time to information on what co-workers make and what potential employers will offer.
Yet comparing salary information is nothing new for employers. While U.S. antitrust law prohibits employers from directly sharing salary information with each other, most mid-sized and large companies routinely use aggregated data from third parties to get a read on the going rates. READ MORE
Just 60% of NYC job listings include salary ranges—here’s who’s complying and who’s not
The rollout of New York City’s salary transparency law on Nov. 1 was kind of a disaster: During its first few days, New Yorkers called companies out for posting $2 million pay ranges, deleting posts and advertising six-figure bands that tested the law’s requirement to post “good faith salary ranges.” READ MORE
3 Things Everyone Gets Wrong When Negotiating Salary
You want a raise. Your company adores you. Should be a slam dunk, right? Well, as with most things financial, it’s ultimately more complicated. We asked Celia Balson, former HR executive and founder and CEO of Work Friendly, for the things she wishes employees understood about compensation conversations. Here are three tips that just might get you to that dream offer. READ MORE
Athletes with the Highest Annual Salary in 2022
When athletes reach the peak of their profession, the numbers on their annual salary tend to become dizzying.
From the pitch and gridiron to the hardwood and ring, international superstars pocket tens of millions of dollars each year. The world's highest-paid group features the likes of Kylian Mbappé, Canelo Álvarez, Lionel Messi and Stephen Curry. READ MORE
Linking Executive Compensation to ESG Performance
As companies address two fundamental and related shifts—the intensified focus on environmental,
social & governance (ESG) issues driven by investors, employees, consumers, business partners, ESG rating agencies, and regulators, [1] and the shift to a multistakeholder form of capitalism [2] —corporate boards are not only incorporating nonfinancial matters into discussions of company strategy and business plans, but also increasingly considering ESG performance measures in incentive plans. At the same time, there are concerns about the benefits of incorporating ESG measures into compensation, the risks of doing so (e.g., rewarding the wrong behaviors, setting inadequate targets, and creating guaranteed bonuses), and challenges in providing investors with what they view as sufficient transparency and specificity in ESG-based pay plans. These concerns have now been compounded by skepticism about whether ESG can actually drive financial performance for companies and investors alike. READ MORE
Here’s how much Disney is going to pay Bob Iger
Bob Iger, who shocked the media world when he returned as CEO of Disney on Sunday, will once again be among the highest-paid executives in Hollywood. READ MORE
Intel cuts CEO stock payouts amid layoffs
Intel said Tuesday it has reduced potential stock payouts for CEO Pat Gelsinger after fielding complaints from investors. The cuts come as employees are bracing for layoffs across the company, part of a broader plan to reduce corporate spending. READ MORE
Uncertainty Weighs on Executive Pay Outlook
Economic uncertainty amid continuing labor shortages is affecting employers' decisions about executive pay, new research shows.
According to newly released data from executive compensation consultancy Pearl Meyer, based near Boston, more than a third of responding organizations gave their executives higher than normal merit increases this year, and almost 20 percent made off-cycle salary adjustments. READ MORE
5 Paths To Get A 50% Salary Bump Without Leaving Your Field
As the worst inflation in forty years is taking its toll on families, three-quarters of middle-income Americans say they can’t support their cost of living. As a result, 73% are unhappy with their jobs and 40% actively plan a change seeking better pay, according to a recent study. But starting from scratch, after spending all that time and money on a degree and years of building a career, is by no means easy. And maybe not even necessary. READ MORE
The FLSA Salary Test Is Coming Around Again For Revision: Employers, Watch Out
The US Department of Labor (DOL) may seek again, in 2023, to raise the salary threshold for a person to fit within a Part 541 white-collar exemption. The agency was going to announce its plans in April but it has been delayed. The reasons are unclear, perhaps concerns about inflation or the effects on small businesses. With that said, as the election cycle is over, it can be anticipated that a proposal will be coming, probably next year. Look for a (proposed) large increase in that threshold amount. READ MORE
Highest Salary Hikes in 15 Years Fueled by Inflation and a Scarcity of Top Talent
Despite economic worries about the Fed's efforts to tame inflation by raising interest rates, the job market not only remains resilient but shows signs of the highest salary hike since 2007, Bloomberg reported. READ MORE
What to Make of Job Ads With Wildly Variable Salary Ranges? They're Not Helpful and Could Get a Company Sued
If your jaw dropped while combing through job listings in New York City this month, you're not alone. Jobs at companies including Verizon, Mount Sinai Health, and Wells Fargo, to name a few, posted salary ranges spanning more than $100,000. At Wells Fargo, a compliance director could make anywhere from $173,300 to $359,000--a difference of over $180,000. READ MORE
Companies Already Have Implementation Questions on SEC’s New Pay vs. Performance Rule
The Securities and Exchange Commission’s Division of Corporation Finance (CorpFin) staff has already been getting implementation inquiries about the commission’s so-called pay versus performance rule, which was adopted less than three months ago.
While the staff is responding to individual inquiries, CorpFin is also thinking about how broadly—and in what form—the most commonly asked questions could be answered. READ MORE
SEC Adopts Compensation Clawback Rule with Requirements for Public Companies
The U.S. Securities and Exchange Commission (SEC) on Oct. 26 released a long-awaited final rule on incentive-compensation clawbacks, requiring publicly traded companies to have policies for recouping executive compensation if revised company financial statements show that incentive-linked goals were not met. READ MORE
Productivity down 1.4 percent, real hourly compensation down 3.4 percent, over past year
From the third quarter of 2021 to the third quarter of 2022, nonfarm business sector labor productivity decreased 1.4 percent, reflecting a 1.9-percent increase in output and a 3.4-percent increase in hours worked. This quarter marks the first time this measure has seen three consecutive year-over-year declines since 1982. READ MORE
SEC Adopts Mandatory Rules for Clawing Back Incentive-Based Compensation: Questions and Answers for Public Companies and Best Practices
On October 26, the Securities and Exchange Commission (SEC) adopted long-delayed rules which will require companies to implement mandatory "clawback" policies with respect to incentive-based compensation if the company's financial statements tied to achieving the relevant incentive payments are later required to be restated. READ MORE
Musk testifies in lawsuit over Tesla compensation package
Tesla CEO Elon Musk took the witness stand Wednesday to defend himself in a shareholder lawsuit challenging a compensation package he was awarded by the company’s board of directors that is potentially worth more than $55 billion.
Musk denied that he dictated terms of the compensation package or attended any meetings at which the plan was discussed by the board, its compensation committee, or a working group that helped develop it. READ MORE
How HR is balancing pay transparency
A lot has changed since Cassandra Rose first started working in HR 20 years ago.
Until recently, it was common practice to ask applicants how much they currently earn in order to set their pay at a new company. Rose remembers being asked those questions as a job applicant herself. READ MORE
Americans look for side hustles to fight inflation
Do you feel like you need to take on a second job to keep up with rising prices? If so, you’re not alone. The cost of living rose 8.2% in September, while wages rose just 5.1%. And there are still jobs to be had.
The labor market remains healthy, for now at least. The economy added 261,000 new jobs in October. The Federal Reserve, meanwhile, worries strong jobs figures will keep inflation at a 40-year high. READ MORE