Organizations appear to be simplifying pay philosophy and policies surrounding geographic pay, according to a new study published by WorldatWork. The survey, "Geographic Pay Policies," reveals that organizations are increasingly considering single pay structures, as well as consolidating or eliminating pay differentials. READ MORE
Don’t Just Pay Interns, Help Them Build Networks
Summer internships are a proven gateway to jobs. But that gateway is not equally open to students from different backgrounds. Low-income, first-generation, and underrepresented students’ internship participation rates lag behind those of their wealthier, white peers. Moreover, access to paid internships, which are associated with long-term wage premiums, remains uneven along lines of race and class. READ MORE
Prices are rising. How much should your salary increase?
When it comes to salary negotiations, job candidates have a lot of leverage these days.
"There are a number of economic factors that are relevant for thinking about salary negotiations right now," said Linda Babcock, an economics professor at Carnegie Mellon University. Along with rising inflation, the nationwide labor shortage -- there are now almost two jobs available for every job seeker -- has given workers "a lot more bargaining power than they have traditionally had in softer labor markets," she said. READ MORE
N.Y. Will Soon Require Businesses to Post Salaries in Job Listings. Here's What Happened When Colorado Did It
Job hunting can be exhausting and full of unknowns. Over the past year, Alaina, a 31-year-old biotech sales associate in Denver, Colo., started looking at job listings online, but she was able to scratch out at least one unknown: salary. In Jan. 2021, Colorado took the unusual move of instituting a law, the Equal Pay for Equal Work Act (sponsored by four female Democrats in the General Assembly), that requires online job listings to include compensation information, right there on the post. It is the only state in the U.S. that mandates this type of transparency, but on Nov. 1, 2022, New York City plans to follow in its footsteps with its own pay disclosure law, requiring companies with more than four employees to post salary ranges. READ MORE
Post-grad salary: Is Gen Z expecting too much?
Today's college graduates expect to receive a starting salary at their first job that's nearly double the actual average entry-level salary - and these unrealistic expectations extend to everything from their mid-career prospects to the financial value of their degree. READ MORE
Think tank urges making investor votes on CEO pay legally binding
Shareholder votes on directors’ remuneration reports should be legally binding, an economic inequality think tank recommends, as it finds pay gaps are not only rebounding but also widening post-pandemic. READ MORE
Tech CEOs who are reaping gigantic paydays could face investor fury this week
Tech stocks have struggled lately—$1 trillion in value got erased this month in just three days. But executive compensation at Silicon Valley’s top companies has never been higher. READ MORE
Top 15 Cities for Technical Architect Salaries and Compensation
The technical architect (also known as the IT systems architect) has one of the biggest tech jobs within a given organization. They must plan and implement the tech stack, which isn’t just a technical feat—they must also use their “soft skills” such as communication and empathy to secure buy-in from a wide range of stakeholders, from C-suite executives to software engineers. READ MORE
Tech workers are still milking the cash cow
The market is turning. Tech stocks are slumping — which is bad news for employees — and even industry powerhouses are slowing hiring and laying people off. Tech talent is still in high demand, but compensation packages could start to look different as companies recruit. READ MORE
Examining the Rise in Salary Increase Budgets
Companies face unique challenges with their salary increase budgets this year. For the past decade, merit budgets have hovered around 3%, but current trends suggest that salary increase budgets are rising to levels not seen in more than 20 years. As a result, companies are assessing how they can meet strategic objectives amid rising inflation and tough competition for talent. READ MORE
Michael Jordan tops richest athlete list years after retirement
Michael Jordan is the G.O.A.T. in more ways than just how much he won on the basketball court.
The Chicago Bulls legend, Charlotte Hornets team owner and Jordan Brand creator topped the list of highest-paid athletes of all time by Sportico on Thursday. Jordan retired from playing after his final season with the Washington Wizards in 2003. READ MORE
Microsoft to Nearly Double Salary Budgets, Expand Stock Compensation
Microsoft Corp. said it plans to "nearly double" its budget for employee salary increases and boost the amount of stock compensation it gives some workers by at least 25 percent, in an effort to retain staff and help people cope with inflation.
The move, effective in the fiscal year beginning July 1, will mainly affect "early to mid-career employees," the software firm said in a May 16 statement to employees, obtained by Bloomberg News. READ MORE
Investor unease with CEO pay growing
As executive pay swells, investor support is declining, according to a new report from ISS Corporate Solutions (ICS).
The firm, which is a division of proxy advisory firm Institutional Shareholder Services Inc. (ISS), reported that shareholder support for so-called “say-on-pay” advisory votes on executive compensation declined to its lowest level since advisory votes were made mandatory in 2011. READ MORE
Federal contract workers lose millions to bureaucratic fumbles
Federal contract service workers have lost hundreds of millions of dollars in pay and benefits and are at risk of losing more because of bureaucratic fumbling.
A new report by the government’s main watchdog says poor communication among agencies, poor tracking of cases and poor use of enforcement tools could result in cheating workers on federal projects out of even more compensation due under the Service Contract Act (SCA). READ MORE
Deion Sanders Rips Nick Saban Over Pay-for-Play Accusations
Nick Saban had a lot to say about teams potentially abusing the new Name, Image, and Likeness rules on Wednesday. First, he attacked Jimbo Fisher and Texas A&M, saying they “bought every player.”
But Fisher wasn’t the only coach Saban went after. He also criticized Deion Sanders and Jackson State, saying they openly paid a player to attend their school without any consequences. READ MORE
The important compensation metric that most employers ignore
Attracting and retaining talent have always been critical components in organizations’ plans. In the era of the Great Resignation and the great return, it has become more important and more competitive to carry out this goal. READ MORE
Here’s what Gen Z and millennials want from their employers
Gen Z and millennials, like millions of other Americans, are looking for a new way to work.
Stressed and burned out, many have walked away from their jobs. Others still plan to do so, according the Deloitte Global 2022 Gen Z and millennial survey. READ MORE
Inflation outpacing wage growth creates recession concerns
Citi's Institutional Client Group Chairman Leon Kalvaria noted on Wednesday that "people are worried about a recession" as inflation outpaces wage growth.
Speaking on "Mornings with Maria," he noted that "a recession, at the end of the day, comes from the consumer side of the equation." READ MORE
Walmart Offers a $200,000 Salary for Store Managers
In a hiring landscape where job positions for retail store managers and sales managers are growing at a rate of 7%, according to the U.S. Bureau of Labor Statistics, and roughly 27,900 new sales manager jobs should be created between 2020 and 2030, superstore Walmart is seriously concerned about having enough managers in the near future. READ MORE
Intel shareholders reject executive pay
Intel shareholders voted last week against the company’s compensation for its top executives, according to an regulatory filing published on Monday.
The vote is advisory, and won’t immediately affect the compensation of Intel’s executives, but sends a signal that some Intel investors are closely watching the performance of CEO Pat Gelsinger and the progress of his turnaround plan for the chip giant. READ MORE