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President Donald Trump has made history for many reasons − but in the financial world, he is the first billionaire to be elected president.
Like other presidents before him (see below), the billionaire famously donated his presidential salary during his first term. News reports state he'll do the same for his second. READ MORE
Waiting tables or serving up food in the drive-thru may seem like a first step into the workforce – but for some it could pave the path that leads to a big-money job.
Amid a nationwide restaurant worker shortage, many brands are finding ways to attract and retain their employees while offering big bucks and benefits to those who wish to work long-term or climb the ladder. READ MORE
The One Big Beautiful Bill Act (OBBBA) changes the tax treatment of compensation and benefits in several ways that have major implications for employers. Employers may face modified tax obligations, new reporting requirements, and challenges implementing new processes and rules. The changes will require employers to evaluate and adapt their compensation and benefits programs and administrative practices. READ MORE
Executive compensation disclosure requirements were the primary topic of the June 26, 2025 SEC roundtable, with particular focus on the CEO pay ratio and pay-versus-performance disclosure rules and perquisites. Several SEC Commissioners shared their perspectives on the current executive compensation disclosure framework during the event. Chairman Paul Atkins, who assumed office in April, compared the existing framework to “Frankenstein’s monster,” a patchwork of well-intentioned requirements that has evolved into something far removed from its original purpose. Commissioners Hester Peirce and Mark Uyeda noted the significant compliance burden that the current rules impose on companies and questioned whether this disclosure serves the Commission’s mission of investor protection. Continued evaluation is likely to result in proposed rulemaking in this area, with elimination or streamlining of existing executive compensation rules. READ MORE
A federal appeals court shot down Morgan Stanley’s attempt to appeal a lower court’s decision that its deferred compensation plans were protected by federal law. The decision could impact numerous arbitration proceedings filed against the wirehouse by former employees.
The Second Circuit Court of Appeals issued its dismissal of Morgan Stanley’s appeal, arguing it didn’t have proper jurisdiction, and denied Morgan Stanley’s request that the district court judge who filed the previous opinion “strike its legal conclusion that the deferred-compensation plans” fell under the Employee Retirement Income Security Act. READ MORE
Last week, Microsoft eliminated 9,000 jobs—laying off 4% of its workforce (and a big chunk of its gaming team)—despite having reported nearly $26 billion in net income in the first three months of 2025.
Massive profits may not preclude a company from cutting jobs. Perhaps they know of some weakness to their business that necessitates eliminating the jobs of scores of experienced professionals. READ MORE
The Trump administration has released its annual White House salary report, offering a rare look inside the pay structure of more than 400 staffers now serving President Trump in his second term. The list, delivered to Congress as required by law, details who’s earning the most—and how the West Wing payroll stacks up compared to previous administrations. READ MORE
On June 26, 2025, the Securities and Exchange Commission (SEC) hosted a roundtable on executive compensation disclosure requirements with representatives from public companies, investors, industry groups and advisors. In his introductory remarks, SEC Chair Paul Atkins referred to the current disclosure requirements as a “Frankenstein patchwork of rules,” a refrain echoed by Commissioners Hester Peirce and Mark Uyeda, each of whom signaled an interest in clarifying certain rules and simplifying current executive compensation disclosure. READ MORE
On July 1, the Senate approved its version of “The One Big Beautiful Bill Act,” containing several provisions relevant to tax-exempt organizations. Importantly, certain proposed amendments contained in draft legislation released by the Senate Finance Committee two weeks ago (covered in our prior Alert here) were removed from the approved bill following a determination by the Senate Parliamentarian that those provisions were outside the scope of what could be approved by the Senate under the reconciliation procedure. The Senate-approved legislation is substantially different from that approved by the House last month (covered in our prior Alerts here and here). The House must now approve the Senate’s version, or the two chambers must work to reconcile those differences, before the legislation can be sent to the President for signature. READ MORE
Determining salaries is one of the most critical pieces to attracting and retaining talent, and technology may have the potential to improve the decision process significantly for benefit managers and employees.
Over 70% of U.S. companies use AI in some capacity, including compensation decision making, according to business networking platform Connex Partners. While benefit managers may feel uncomfortable relying on automation for something as complex and sensitive as deciding salaries, it has the potential to drastically improve the process for them, as well as current and prospective employees. READ MORE
Mark Cuban said he was "embarrassed" to find out some of his staff were having to use government benefit programs.
"When I found out I had employees at our arena on public assistance, I immediately gave raises to every hourly employee and their managers," Cuban said of staff working for the NBA's Dallas Mavericks, adding that he was "embarrassed" to make this discovery. READ MORE
SHRM has expressed its opposition to California Assembly Bill 1234, introduced by Assemblymember Liz Ortega. The bill proposes a major overhaul of the labor commissioner’s wage claim process, introducing new financial penalties for employers, regardless of fault or intent. While SHRM advocates for the strong enforcement of wage and labor laws, it believes this bill’s disproportionate penalties could hurt employers operating in good faith.
Under AB 1234, a mandatory 30% administrative penalty would automatically apply to every order, decision, or award the labor commissioner issues — even before any appeal or judicial review can take place. According to SHRM, this blanket penalty would impose a significant financial burden on employers who may simply be exercising their right to due process, particularly in cases where the facts are uncertain or liability is ambiguous. Such a framework discourages legitimate defenses and could dissuade employers from seeking clarity or fairness in disputed claims. READ MORE
Georgia and Wyoming share the dubious honor of having the lowest state-mandated minimum wages in the U.S., at $5.15 an hour.
However, that applies only to employers and workers who are not covered by the federal Fair Labor Standards Act (FLSA). Otherwise, workers must receive at least the current federal minimum wage of $7.25 per hour, which hasn't changed since 2009. READ MORE
Hundreds of thousands of workers across more than a dozen cities and states will soon receive higher pay, thanks to minimum wage hikes set to take effect July 1.
More than 800,000 workers in two states —Alaska and Oregon — as well as Washington, D.C., will be impacted by higher minimum wages that go into effect July 1, according to the left-leaning economic think tank Economic Policy Institute (EPI). Additionally, a dozen cities and counties are also set to boost their baseline pay rates next month. READ MORE
You could have the longest tenure on your team, do your work correctly and on time, and even be well connected at your company — and still be overlooked for a promotion.
This shouldn’t come as a surprise, according to Klutch Sports Group founder and CEO Rich Paul. Too often, employees feel like they’re owed raises and promotions without putting in any extra work to get them, he says. READ MORE
When it comes to long-term incentive (LTI) vehicles, relative total shareholder return (TSR) remains the most popular performance metric. In fact, TSR was used in more than 50% of performance awards either as a single metric or one of multiple metrics, according to WTW’s 2024 Long-Term Incentives Policies and Practices Report.
Given this prevalence, companies need to stay informed about TSR plan design practices and trends. Considering that design features can affect the associated expense, administrative burden and ultimate value delivered, we surveyed our clients to identify significant TSR award features. READ MORE
The U.S. Chamber of Commerce (“Chamber”) submits these comments for the Securities and Exchange Commission’s (“SEC”) roundtable regarding public company executive compensation disclosure. The Chamber commends the SEC for holding this roundtable on a timely issue and frequent topic of discussion within the SEC’s corporate disclosure framework. We appreciate the Chairman’s initiative to review disclosures with respect to the public company model to evaluate whether certain disclosures serve as impediments to companies accessing and remaining in the public markets. READ MORE
President Donald Trump expressed uncertainty over whether he would support a Republican-led proposal to raise the federal minimum wage, when asked about the measure at the White House on Wednesday.
The bill, introduced by Republican Senator Josh Hawley of Missouri last week, seeks to double the current federal minimum wage to $15 per hour. In response to a reporter's question on the plan, Trump replied: "I haven't seen it. I'd have to speak to Josh. He's a very good friend of mine." READ MORE
The 2025 proxy season has officially concluded, and companies have finished submitting their proxy statements (DEF 14A) to the Securities and Exchange Commission (SEC). These filings provide comprehensive insights into executive compensation practices and corporate governance structures. The following analysis examines fiscal 2024 proxy statements submitted by Equilar 500 companies—the largest U.S. public companies by revenue—and highlights key trends in executive compensation.
The aftermath of the COVID-19 pandemic, ongoing inflationary pressures and political crosswinds have all contributed to an increasingly competitive market for high-level leadership. In response, companies have continued to increase pay packages to attract and retain top talent, especially as the role of the CEO becomes more complex and demanding. This analysis follows compensation trends from 2020-2024, offering a comprehensive view of how executive pay has changed over the years in comparison to median employee compensation, as well as a look into gender pay equity. READ MORE