New York City Council Amends Wage Transparency Law

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

CEOs are enjoying huge paydays while their workers struggle to pay bills

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

U.S. Minimum Wage, Tipped, and Exempt Employee Pay Increases Will Heat Up This Summer (And Possibly Other Seasons)

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

The salary gap female startup CEOs face won’t go away

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

Amazon Shareholders Almost Voted Down Executive Pay. Here's the Brutal Truth Every Leader Should Learn

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

Biden Pushes Expanded Wage Mandates That Exacerbate Inflation

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

How To Negotiate A Salary With A New Employee

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

How To Negotiate Your Salary (While Keeping the Offer)

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