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Various economic indicators are surpassing their pre-pandemic highs as stimulus and reopening drive the country toward a full recovery.
US wages are the latest to rebound.
Salaries and hourly wages finally leaped above their February 2020 peak in March 2021, according to the Bureau of Economic Analysis. Employee payment across the country rose to a seasonally adjusted annual rate of $9.78 trillion from $9.67 trillion, marking a new record high and an eleventh consecutive climb. READ MORE
On a Tuesday afternoon last June, Humberto was yanking old wires from the walls of a middle school in suburban Birmingham, Alabama, when his cellphone rang.
Humberto’s wife, who had just returned from her weekly trip to the grocery store, was on the line. “Our account is negative,” she said. READ MORE
At the start of the pandemic, software engineer and aspiring CIO Kerry Fields was laid off. In an already challenging time, she unexpectedly had to begin searching for work during one of the biggest job crises of the past several decades. She poured over job boards, networked virtually, worked with mentors, and took every opportunity to continue building her portfolio and professional skills. She also applied for upwards of 100 jobs. READ MORE
With increased media attention and political campaigns focusing on the gender pay gap, the fact that women — on average — are paid less than men, has become an important public discussion. While much of the focus has been on the corporate sector, a new study that looked at executive compensation at nonprofit organizations found that women earn 8.9% less than men with the gap becoming greater when there is room for salary negotiations. READ MORE
Anyone who receives stock options, restricted stock units or other forms of equity compensation needs to understand how they work and how they are taxed. Otherwise, you could miss out on a great opportunity, or get hit with a surprise bill. READ MORE
A Delaware judge on Monday ordered lawyers representing Tesla Inc. directors to turn over certain communications that CEO Elon Musk may have shared with the company’s top in-house attorneys before the board approved a compensation plan in 2018 that could net Musk more than $50 billion. READ MORE
To perform this analysis, The Center for Public Integrity analyzed data provided by the Labor Department in response to a Freedom of Information Act request. The data used in the analysis covers the period from October 2005 through September 2020 and includes all cases in which the agency determined there were minimum wage or overtime violations. READ MORE
A majority of shareholders at General Electric Co's annual meeting rejected the pay packages for named executive officers, including CEO Larry Culp, whose compensation for 2020 tallied $73.2 million. READ MORE
Silence is one of the most simple yet most powerful negotiation tools, but it’s traditionally positioned as an intimidation tactic that prompts a person to speak to their own disadvantage.
New research published in the Journal of Applied Psychology finds that pausing for at least three seconds during a negotiation has benefits beyond making someone uncomfortable. READ MORE
Going through the interview process was stressful enough, but now there are trap questions during salary negotiations?
Yes, yes there are. The employer’s job is to get the best candidate at the lowest cost while the new employee is trying to get the highest compensation package. READ MORE
Only around 10 percent of TSX companies issued some form of pay cut to CEOs, other executives, or their board of directors in 2020, according to research from Diligent.
And where cuts were implemented, they were minimal. ‘Using 2019 realized compensation as the basis, we find that the pay cuts issued by the companies represent only about 1 percent of total projected realized pay,’ write the study authors. READ MORE
he 2021 Private Equity and Venture Capital Compensation Report shows that private equity and venture capital compensation is up again this year, marking the seventh straight year of compensation gains. The year was unprecedented with the COVID-19 pandemic, and many respondents noted concerns about fundraising and job security in this environment. READ MORE
Wells Fargo & Co's executive pay plan for 2020 received backing from only about 57% of investor votes on Tuesday, a narrow win for the company and the latest evidence of tougher scrutiny shareholders have put on CEO compensation this year.
CEO and President Charles Scharf was paid $20.4 million in 2020, down from $34.3 million in 2019, when he was first named to lead the bank, according to its proxy statement filed in March. On an annualized basis his total direct compensation in 2020 fell about 12% from $23 million the prior year, according to a January filing. READ MORE
The 2021 NFL Draft will begin Thursday and the Jacksonville Jaguars are on the clock.
The Jaguars, barring a shocking surprise, are expected to select Clemson standout quarterback Trevor Lawrence with the No. 1 pick. Lawrence played three seasons with the Tigers and won a national championship with the team. He recorded 10,098 passing yards and 90 touchdown passes. READ MORE
The Biden administration is expected to issue an executive order Tuesday that will require all federal contractors to pay their employees working for federal agencies a $15 minimum wage.
Progressives have been trying to enact a $15 minimum wage hike on a national level but fell short of the votes needed last month to include the proposal in the massive $1.9 trillion coronavirus relief bill. Seven Democrats joined Republicans to oppose the measure. READ MORE
Due to the financial strain of the coronavirus pandemic, 2020 was a revealing year for many in terms of money, income and personal finance habits. Just in time for Financial Literacy Awareness Month in April, Elements Global Services released its 2021 State of Compensation report. Here are some of the key statistics and takeaways from the report along with insights and predictions about the future from Rick Hammell, the founder and CEO of Elements Global Services. READ MORE
On April 19, 2021, the federal government tabled its 2021 budget (2021 Budget), which included a number of provisions related to pensions, benefits and executive compensation, as summarized below. READ MORE
Wage inflation across the United States hasn’t been a concern for at least a generation.
During the crushing inflation of the late 1970s, increasing salaries by 10 to 20% year over year would only keep flat an employee’s purchasing power. Today, pay bumps like that are the stuff of a big promotion. That’s because year-over-year price inflation in this country hasn’t crossed even 3% since before The Great Recession. READ MORE
Boeing had a historically bad 2020. Its 737 Max was grounded for most of the year after two deadly crashes, the pandemic decimated its business, and the company announced plans to lay off 30,000 workers and reported a $12 billion loss. Nonetheless, its CEO, David Calhoun, was rewarded with some $21.1 million in compensation.
Norwegian Cruise Line barely survived the year. With the cruise industry at a standstill, the company lost $4 billion and furloughed 20% of its staff. That didn’t stop Norwegian from more than doubling the pay of Frank Del Rio, its CEO, to $36.4 million. READ MORE