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Today's college students expect to make about $103,880 in their first post-graduation job, a survey suggests. But the reality is much lower – as the average starting salary is actually about half that at $55,260, statistics show.
The survey, conducted by Real Estate Witch, found that, across all majors and institutions, undergraduate students overestimate their starting salaries by 88%. And 1 in 3 worry that they won't make enough money to live comfortably after graduation. READ MORE
General Electric (GE.N) investors are pretending to be angry about executive pay. Only two-thirds of them voted to support the company’s executive compensation package at its annual meeting on May 4. That’s better than the 42% who voted in favor last year, but below the average of 87% at companies tracked by Proxy Monitor. READ MORE
Online retail giant Amazon.com took a firm stance Monday pushing against a prevailing Republican-led push to restrict access to abortion, telling its staff that it would pay up to $4,000 in travel expenses for non-life threatening medical treatments that include abortion.
The move comes as a leaked Supreme Court opinion suggests the conservative-leaning court may op to overturn Roe v. Wade, the landmark law that makes abortion legal. READ MORE
Many companies are struggling to encourage their workforce back into the office as COVID restrictions are increasingly being eased in cities all over the world.
A recent survey found that 76% of Apple employees are unhappy with the tech giant’s return-to-office policy, which requires corporate workers to be in the office once a week. READ MORE
Is your salary as high as you think it should be? Are you making what your peers are making? Should you be looking for a new job in order to get that salary boost this year? If these are the questions you are looking to answer, we’ve got some insights for you.
InformationWeek checked in with IT professionals across the US to find out whether salaries were going up or down, how many were thinking about finding a new job, and what qualities mattered most to them about their work. The full results are in the InformationWeek 2022 US IT Salary Report (PDF available for free download with site registration to InformationWeek.) READ MORE
PSEG Long Island, citing the potential for "unfair economic and competitive damage," has declined to publicly disclose executive salary figures required by a new state law, drawing rebukes from the statute's authors.
The New Jersey company's disclosure filing with the state Department of Public Service lists top executives of the company's Long Island division but blacks out all salary figures, including for categories such as deferred compensation, bonuses, stock options and life insurance premiums. READ MORE
A TikTok influencer and business owner went viral after explaining how she runs a business without being “selfish.”
It’s simple according to Madeline Pendleton, the owner of L.A-based online boutique Tunnel Vision, who explains that all she does is pay her nine full-time employees the same salary as she pays herself.
The math is pretty easy. READ MORE
Starbucks interim CEO Howard Schultz has a message for workers interested in unionizing: If you do, you could miss out on higher wages.
The coffee chain said it would raise wages back in October. Starbucks will honor those commitments to employees even if they have voted to unionize, Schultz said during an analyst call Tuesday. READ MORE
The Supreme Court on Monday added three new merits cases to its docket for the 2022-23 term. On a list of ordersfrom the justices’ private conference last week, the justices also called for the views of the U.S. solicitor general in two cases, and they declined to take up a pair of cases involving the differential tax treatment of billboards that advertise services that do not have a connection to the site where they are located.
The justices will likely hear oral argument in the fall in the three merits cases that they granted today: READ MORE
An average job description these days reads something like this. Duties: Everything from editing short films to creating pivot tables in Excel to wowing clients with interpretative dance! Hours: Every single hour in the day. Qualifications: 15 years in this field, plus a PhD. Compensation: Haha, why would we tell you that? Nah, you’re going to have to waste your time filling in a ton of paperwork and going to a bunch of interviews before we’ll let you in on that little secret. For now, all we can say is that it’s “competitive”. But not so “competitive” that we’re keen to advertise it. READ MORE
Now in its 34th year, the Association for Financial Professionals (AFP) Compensation Survey was conducted in February 2022. The survey collected data on total compensation earned during the 2021 calendar year, as well as data on base salaries effective January 1, 2022. Key among the findings was the fact that financial professionals gained an average 4.4% base salary increase in 2022, a 1.5% gain over the previous year. The increase in salary breaks down further as a gain of 4.3% for executive- and management-tier professionals, and a gain of 4.5% for the staff-tier. READ MORE
Job listings could get much more interesting in New York City this fall. Starting Nov. 1, employers will be required to post the maximum and minimum salary for a role, so you can actually know how much a job pays before you take that interview.
Why it matters: This is quickly becoming a thing. Salary transparency is believed to be a way to diminish unfair gender and racial pay disparities, and more states and cities are doing it. READ MORE
An often-explored theme of this blog is the frequency with which similarly situated owners of similarly situated closely held business, facing a similar set of economic circumstances, and presented with a similar set of choices, will repeat the mistakes made by countless taxpayers before them. READ MORE
Skyrocketing inflation is robbing Americans of their raises.
Total compensation costs for civilian workers declined 3.7% over the past 12 months ending in March, after accounting for inflation, according to the Employment Cost Index report published Friday. READ MORE
On April 28, 2022, the New York City Council passed Int. No. 134-A, which revises Local Law 32, New York City’s previously enacted salary disclosure law. In order to become law, the bill must be signed by New York City Mayor Eric Adams. While the mayor has thirty days to consider the bill, timing is key as the current salary disclosure law is set to take effect on May 15, 2022. If the mayor signs the bill, the effective date of the salary disclosure law would be pushed back to November 1, 2022. READ MORE
A growing number of cities and states are rolling out laws requiring businesses to be more forthcoming with how much their job openings pay to close the pay gap for women and people of color.
At least seven states and multiple cities have passed laws requiring more transparency with salary information over the last four years. The amount of information required varies between places, but most require salary information to be available upon request or after an interview, with exceptions for small businesses. READ MORE
The pandemic, and the Great Resignation that came with it, may have put a lot of people in the market for new jobs. In 2021, an average of more than 3.98 million workers quit their job each month. This marks the highest rate of workers willingly leaving jobs since the Bureau of Labor Statistics began reporting the numbers in December 2000. READ MORE
Companies usually have multiple stakeholders they have to cater to including customers, employees, shareholders and vendors. The order in which these stakeholders are listed is important because this is the hierarchical importance many companies assign to each of these stakeholders. Some CEOs also might argue that the communities that the company operates in or the broader society as a whole also are stakeholders. READ MORE
Airbnb staff will be able to work from almost anywhere they want, the company has announced, and they won’t see their pay docked if they move outside metropolitan areas. READ MORE
According to Glassdoor, 60% of employees accept the first offer and don’t negotiate their salary. Now that is a lot of missed opportunities and money left on the table—especially with the times we are in right now and after the Great Resignation (4.3 million people left their jobs in January 2022). The market for job seekers demanding salary negotiation assistance has consistently risen. READ MORE