Today's college students have super high expectations when it comes to starting salaries, per CNBC, which cites a recent online survey by Real Estate Witch. The 1,000 undergrads it surveyed expect to rake in $103,880 to start. The reality looks pretty different: That figure is about $50,000 more than what the average starting salary for the class of 2022 is expected to be. Then again, majors matter. Starting salaries for computer sciences and engineering hover around $75,000 (and their expectations were closer, at $95,000), whereas humanities majors will pull in around $50,000. READ MORE
Younger workers aren’t keeping their salaries a secret anymore
Kiersten Post isn’t afraid to talk about money. She chats with friends about buying a house and budgeting for vacations. She shares her personal finance goals with family members.
And much to her parents’ surprise, she even discloses her salary. Regularly. READ MORE
Amazon shareholders urged to question CEO’s ‘excessive pay’
Glass Lewis, one of the world’s biggest shareholder advisory companies, encouraged shareholders to vote against McGrath—who chairs Amazon’s leadership development and compensation committee—to signal that they are unhappy with how the tech giant has responded to a string of public labor controversies. READ MORE
Dimon Pay Should Be Rejected by JPMorgan Investors
JPMorgan Chase & Co. shareholders should vote against Chief Executive Officer Jamie Dimon’s pay package, proxy advisory firm Glass, Lewis & Co. recommended, citing a “disconnect” between his compensation and the bank’s performance.
Of particular concern is $52.6 million in option awards granted to Dimon, “nearly double the size of his regular equity grant for 2021” and representing much of his $84.4 million in annual pay, Glass Lewis said in a report. The firm also criticized the $53.3 million in total compensation for President and Chief Operating Officer Daniel Pinto, which included almost $27.9 million in option awards. READ MORE
Securities And Exchange Commission Reinvigorates Pay Versus Performance Proposal
On January 27, 2022, the Securities and Exchange Commission (SEC) reopened the comment period for its pay versus performance proposal. In May 2015, the SEC proposed rules to implement Section 953(a) of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (Dodd-Frank).
Section 953(a) of the Dodd-Frank Act requires the SEC adopt rules requiring issuers disclose in its annual meeting of shareholders proxy statement certain information that shows the relationship between executive compensation actually paid and the financial performance of the issuer, taking into account any change in the value of the shares of stock and dividends of the issuer. READ MORE
Google is raising pay, revamping employee reviews
As employers compete for scarce workers, some employees are winning big wage gains
Job creation has slowed a bit from the torrid pace it set earlier this year.
What hasn’t been slowing, however, is wage growth. Average hourly earnings were up 5.6 percent in March, compared to a year ago.
In this tight labor market, there’s intense pressure on employers to keep raising paychecks. READ MORE
Is a wage-price spiral driving inflation?
Price inflation is at a 40-year high — 8.5% year over year, according to the March consumer price index. Wages haven’t quite been keeping pace: Average hourly earnings were up 5.6% over the same period, per the Labor Department’s March jobs report.
Federal Reserve Chair Jerome Powell has expressed concern about the wages part of that equation. He’s said the labor market is tight to an “unhealthy” level, and that accelerating wage gains “wouldn’t be sustainable over too long of a period.” READ MORE
U.S. Posts Robust Job Gains While Wage Growth Shows Moderation
U.S. employers hired at a robust pace in April, yet more tempered wage growth and a smaller labor force offered mixed signs for a Federal Reserve that’s aggressively raising interest rates to curb hot inflation.
The 428,000 gain in nonfarm payrolls matched the advance in March and was broad-based across industries, a Labor Department report showed Friday. The unemployment rate held at 3.6% and average hourly earnings rose, albeit at a more moderate pace from a month earlier. READ MORE
Wage inflation will remain as long as there is demand for workers
During an interview on "Mornings with Maria" TriNet CEO Burton Goldfield said that as long as there is demand for workers, there will be wage inflation, and companies will need to start increasing salaries to retain and attract employees. READ MORE
How many participants is too many for a top hat plan?
A client recently reviewed a census of participants in its deferred compensation plan and found that the covered group amounted to nearly 15% of its total workforce. Mindful of the need to limit the number of participants in a top hat plan, this compliance-oriented organization asked whether it should consider changing the eligibility criteria to hold down, or even reduce, the size of the covered group. That is a good question. READ MORE
Papa Johns announces ESG metric for incentive compensation
Papa John’s International, Inc. (NASDAQ: PZZA) (“Papa Johns”) today released its 2021 Corporate Responsibility Report, covering initiatives to advance the company’s environment, social, and governance (ESG) strategy and topics most important to the company and stakeholders. In tandem with this year’s report, Papa Johns announced its corporate incentive bonus plan now includes an ESG metric, making the company the first major U.S. pizza delivery chain to announce that its ESG priorities will be linked with incentive compensation. READ MORE
How The Wealthy Really Generate Passive Income
Think back to the last time you played Monopoly; what is the one thing the winner has? The most assets. They have a lot of the assets on the board from real estate with homes and hotels built on them to railroads and utility companies. To win at the game of Monopoly, assets are the key. It’s no different in life. READ MORE
Why some of the richest Americans pay no federal income taxes
Right before tax season ended last month, ProPublica published a list of the country’s highest earners and how much they pay in taxes, based on a trove of secret IRS files the newsroom obtained last year.
ProPublica reporter Paul Kiel joined Boston Public Radio to explain his findings, including why the ultra-rich — the top 400 earners in the entire country — pay lower income tax rates than affluent Americans, how Tesla founder Elon Musk is paying for Twitter, and his thoughts on proposals to change the country's tax system. READ MORE
Equity Compensation Highlight: Stock Options and Restricted Stock
Start-up and early stage companies commonly offer equity compensation to attract talent, encourage employee retention, and align company and employee interests on business objectives. There are several different types of equity and equity-based awards that a company may potentially utilize. This highlight discusses some of the differences between two common forms of equity awards – stock options and restricted stock. READ MORE
Wages Can’t Keep Up With Spike in Housing Prices
Across the globe, the 10 cities that experienced the largest drops in affordability in 2021 were all in the U.S., new research shows. READ MORE
Supreme Court Agrees to Hear Case Concerning Whether a Highly Paid Supervisor’s Daily Rate is a Salary Under the FLSA
The U.S. Supreme Court has agreed to hear Helix Energy Solutions Group, Inc. v. Hewitt, a case addressing whether a supervisor who earned a day rate of $963, and more than $200,000 annually, was paid on a “salary basis” under the FLSA. This question affects the entire spectrum of highly paid white-collar workers whose compensation includes a guaranteed amount, plus additional payments based on an hourly, daily, or per-shift rate. READ MORE
College students expect to make $103,880 after graduation – almost twice the reality
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
CEO pay almost makes GE investors mad
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
Amazon announces benefit to pay for US employees who travel for abortions, other treatments
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