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The coronavirus pandemic has proven that, by and large, remote work works.
As a result, the workforce is more dispersed than ever, and it’s likely to stay that way. And, with employees’ newfound ability to work from anywhere, geographic pay differentials have been thrust into the spotlight during the past two-plus years of the COVID era. READ MORE
A new report in The Wall Street Journal unintentionally sheds light on what economists, including Lawrence Summers, have long known: Higher taxes reduce spending. READ MORE
Depending on your income in 2021, you may be feeling the pain of paying your state and federal income taxes. Some of you reading this post may be feeling a bit more pain based on the state within which you live, how you earn your income, and whether or not you own a home. The overall tax burden can vary widely from state to state. READ MORE
In 2021, New York City joined the growing list of cities and states requiring employers to include salary ranges in job postings. This law was expected to go into effect on May 15, 2022. However, after heeding concerns raised by many groups pertaining to ambiguities in the law, the New York City Council passed an amended version of the New York City Pay Transparency Law that postpones its effective date to November 1, 2022. READ MORE
How much does it take to feel flush in the US these days? Not even $250,000 a year will get you there, according to a recent survey by Pymnts.com and LendingClub Corp., which found that 36% of those earning at least that amount say they’re living paycheck to paycheck. READ MORE
The wage gap between chief executives and workers at some of the US companies with the lowest-paid staff grew even wider last year, with CEOs making an average of $10.6m, while the median worker received $23,968. READ MORE
While most bank CEOs got pay hikes last year, the raises were bigger for some than others.
KeyCorp Chief Executive Chris Gorman received a 64% boost in total direct compensation in 2021, Washington Federal CEO Brent Beardall got a 60% raise, and Comerica CEO Curtis Farmer was awarded a 48% pay bump. READ MORE
Despite all the buzz about the "Great Resignation" and a renaissance for the working classes in America, a new report finds the gap between executive and worker pay is only widening.
The typical low-wage worker's pay didn't keep pace with inflation last year at more than a third of the companies reviewed by the Institute for Policy Studies, a progressive think tank. IPS' survey included the 300 publicly traded companies with the lowest median pay for workers. READ MORE
In late May, employees of the fintech startup Bolt saw a message from their CEO on the company’s Slack. It warned them that “restructuring” was coming, and they should look out for a calendar invitation: One group would join a meeting with human resources, meaning they were being laid off, while another would go to a “town hall,” meaning they still had a job. READ MORE
Minimum wage laws can affect businesses of all sizes, whether operating nationwide, in multiple jurisdictions, or only in one state, county, or city. To help manage this challenge, below we provide, essentially, a rates-only update that summarizes scheduled state- and local-level wage increases throughout the summer and fall of 2022. Employers can use this information to determine the minimum amount they must pay non-exempt, tipped, and certain exempt employees. Before we chart out these rates, we briefly highlight some notable wage and hour developments that have occurred in 2022, and discuss the notable economic development that has affected, and likely will continue to affect, wage-hour law: inflation. READ MORE
A group of Google contractors says they’ve been underpaid by the agency that recruited them, resulting in thousands of dollars in unpaid wages per affected worker. The earliest reports occurred as long ago as 2019, and workers say the payroll errors are happening so regularly that they believe it to be a kind of systematic wage theft. READ MORE
The early-stage startup CEO salary gap is worse today than it was in 2019, even after a record-breaking funding year in venture capital.
At the beginning of the pandemic, early-stage female startup CEOs took a disproportionately higher pay cut than men, according to data from startup accounting firm Kruze Consulting. While female startup CEOs’ salaries have since crept up since the initial plunge, the boom times of 2021 didn’t close the pay gap created by the pandemic. In fact, the pay gap is four times wider in 2022 than it was in late 2019 for early-stage startup CEOs. READ MORE
Women account for about a quarter of the top executives at S&P 500 companies and they only control about 1% of the value of shares held among their fellow corporate leaders, new research shows. READ MORE
Last week, shareholders came within 6 percentage points of voting down Amazon's proposed executive compensation. Nine days later, Dave Clark, CEO of Amazon's worldwide consumer division and a 23-year Amazon veteran, announced his resignation. With compensation of more than $55 million, Clark was Amazon's fourth highest-paid executive, after CEO Andy Jassy, executive chair Jeff Bezos, and CFO Brian Olsavsky. READ MORE
In an op-ed published in the May 31 edition of the Wall Street Journal, President Joe Biden writes that the “most important thing we can do now to transition from rapid recovery to stable, steady growth is to bring inflation down.” Yet, while saying that, President Biden’s administration is in the process of advancing new regulations that will make inflation, already the highest in four decades, even worse. READ MORE
In 2019 women in the United States earned 82% of what men earned, according to a Pew Research Center analysis of median annual earnings of full-time, year-round workers. The gender wage gap varies by age and metropolitan area, and in most places, has narrowed since 2000. See how women’s wages compare with men’s in your metro area. READ MORE
Every year, millions of people join the workforce and begin their search for the perfect job. While many factors come into play when choosing a position, salary is often one of the most important.
Employers may also find it difficult to offer a salary that meets both their needs and the needs of their employees. From preparing for the negotiation to understanding common negotiating tactics, there are many factors employers must keep in mind when entering into salary negotiations. Luckily, there are a few tips and tricks that every employer can use to make the negotiation process a little bit easier. READ MORE
As hiring demand continues to rise, the average starting salary for the college Class of 2022 is projected to be more than $50,000.
However, current college students can earn more than twice that after they graduate depending on the college and area of concentration. READ MORE
There's never been a time in history when a higher salary didn't seem like an attractive prospect. But with costs of living rising and inflation soaring, it's more important than ever to ensure you're being fairly compensated for your work. If you're a director, VP or executive, you should have all the skills and experience needed to secure a good wage — yet many people shy away from negotiation out of the fear it will result in them losing the offer.
Sound familiar? Let's break down the art of salary negotiation. READ MORE
Sheri Scavone said she was “incredibly” underpaid for a long time at the start of her career, but she didn’t know it.
She went on to work for a large medical institution and then saw the same thing happening to others firsthand, especially due to what she believed to be gender discrimination. READ MORE