It’s rare for companies to provide much transparency about how they make pay decisions. But, as laws are being passed mandating pay ranges be shared in job postings, withholding information regarding pay will become more challenging for employers. READ MORE
2023 Salary Budgets Projected to Stay at 20-Year High
Salary increase budgets in the U.S. are projected to grow, on average, just over 4 percent for 2023, less than half of the current annual inflation rate of 8.5 percent, according to new survey data. READ MORE
4 Ways to Negotiate For a Higher Salary and Make More Money
The ability to negotiate is a key skill in business, even more so when accepting a job offer or getting promoted to a new position. However, chances are you probably didn't ask for enough money.
According to research, less than a third of people successfully negotiate their salary to increase their earnings. The majority simply aren't comfortable enough with asking for a pay raise. READ MORE
New jobs report shows salary increases are nearly on par with inflation
A new report from ADP suggests that employers are continuing to add jobs – though fewer new employees were added to the payroll in August compared to July. According to the ADP National Employment Report, while there were 270,000 new jobs added to the economy in July, only 132,000 jobs were added in August, representing a reduction in growth of over 50%. READ MORE
ESG and executive compensation
Incentive plans for corporate executives have been linked to financial metrics for many years. Adding environmental, social, and governance (ESG) metrics to these compensation plans is a more recent development—especially over the last 10 years—as companies increasingly want ESG goals to be taken seriously by the senior management team. READ MORE
SEC rule amendments require proxy disclosure of executive pay versus performance
On August 25, the SEC adopted rule amendments that require registrants to disclose, in proxy or information statements in which executive compensation disclosure is required, information showing the relationship between compensation actually paid to their named executive officers and the company’s financial performance. Emerging growth companies, foreign private issuers, and registered investment companies are not subject to the new requirements, which apply in scaled form to smaller reporting companies. READ MORE
SEC Adopts Long-Awaited Pay Versus Performance Disclosure Rule
On August 25, 2022, the Securities and Exchange Commission, in a 3-2 vote, adopted a new disclosure rule implementing the Dodd-Frank Act’s requirement that public companies disclose the relationship between compensation paid to executives and the company’s financial performance. SEC Chair Gary Gensler’s stated purpose of the new rule, commonly known as the “pay versus performance” disclosure requirement, is to promote transparency and make it easier for shareholders to assess a public company’s decision-making with respect to its executive compensation policies. READ MORE
Job Hunters Are Increasingly Searching for Gigs That Pay $20 (or More) an Hour
The Great Resignation may be waning, but workers are still looking for a raise.
Since April of last year, people have searched for jobs that pay $20 per hour more than they’ve searched for jobs that pay $15 per hour, according to a new analysis from Indeed’s Hiring Lab. That’s a change from 2019 and 2020, when job searches on Indeed's platform that mentioned “$15” outnumbered those that mentioned “$20.” READ MORE
New MBA grads at McKinsey, BCG, Bain can now land base salaries of nearly $200K
MBA graduates already make 42% more than working professionals with just a bachelor’s degree. The median base salary for MBA graduates is $115,000, according to the Graduate Management Admission Council, but some alumni are earning even more money in their first roles. MBA grads who go on to work at the top three consulting firms—McKinsey & Co., Boston Consulting Group, and Bain & Co.—will now bring home starting base salaries of $190,000 to $192,000. READ MORE
How Forbes’ Top 25 Colleges Stack Up On Alumni Salaries
In its newest college rankings, one of the seven factors that Forbes employed is the median salary that a college’s graduates earn at various points in their careers. Alumni salary is weighted at 20% of the overall ranking, and Forbes looks at this factor through four different lenses, each one worth 5%. READ MORE
Job Hunter Praised for Rejecting Company's Low Salary Offer
An applicant has been applauded for turning down a job, after they were offered $6,000 below the advertised range because they were currently unemployed.
Redditor u/Jasoncav82 shared the interview process to the site's AntiWork forum, where they revealed they had been looking for work since June, after leaving their job. READ MORE
A Compensation Committee is Not Enough
Faced with a generation of young talent and job seekers who are asking the question of the purpose and meaningfulness of their professional activity much more loudly than their predecessor generations, companies are facing major challenges. READ MORE
Securities and Exchange Commission Significantly Expands Executive Compensation Disclosures
On 25 August 2022, the Securities and Exchange Commission adopted final rules (Final Rules) implementing the “pay versus performance” disclosure requirement set forth in the Dodd-Frank Wall Street Reform and Consumer Protection Act, marking the most significant executive compensation disclosure development in the last decade. READ MORE
"Act Your Wage": Several US Workers Embracing "Quiet Quitting", Says Report
They are drawing a line at the 40-hour work week, limiting after-hours calls and emails and generally, if softly, saying "no" more often -- some American workers are embracing the concept of "quiet quitting" as they push back against what some see as the stifling trap of constant connectivity.
Maggie Perkins -- who lives in Athens, Georgia -- was racking up 60-hour weeks as a matter of course in her job as a teacher, but the 30-year-old realized after her first child was born that something was wrong. READ MORE
Income Inequality Is Rising. Are We Even Measuring It Correctly?
Income inequality is on the rise in many countries around the world, according to the United Nations. What’s more, disparities in global income were exacerbated by the COVID-19 pandemic, with some countries facing greater economic losses than others. READ MORE
New SEC Rules Heighten Scrutiny Over Executive Pay
On August 25, 2022, the US Securities and Exchange Commission (SEC) adopted final rules imposing new mandatory “pay for performance” disclosures for most public companies (foreign private issuers, emerging growth companies and registered investment companies are excluded). These rules implement Section 953(a) of the Dodd-Frank Act, which provided for the SEC to adopt pay for performance rules requiring disclosure in a “clear manner” of the relationship between executive compensation “actually paid” and the company’s “financial performance” taking into account changes in stock value, dividends and distributions. READ MORE
How Compensation Leaders Can Seize the Pay Transparency Opportunity
The Colorado Equal Pay for Equal Work Act, which went into effect at the beginning of the year, mandated publication of pay ranges for new openings for all job positions in the state, including remote positions. READ MORE
As tech giants increase stock compensation to retain talent, can startups take advantage?
Large tech companies including Zillow Group and Amazon are turning up the dial on stock compensation in a bid to reduce churn.
There are a bevy of factors incentivizing employers to increase the amount of stock they are providing tech workers, including the ongoing war for talent, the Great Resignation, and a shaky stock market.
The compensation changes could be a boon for startups. READ MORE
Salary Expectations: What Gen Z & Millennials Want From Their Employers
When it comes to the salary expectations of the younger generations of workers, Gen Z holds employers to a slightly higher standard. A recent GOBankingRates survey asked over 1,000 Americans about their minimum salary needed to be happy, and the majority of Gen Z adults said they would need to make between $80,0001 and $100,000. Meanwhile, the majority of millennials said they would need to make between $60,001 and $80,000 to be happy. READ MORE
SEC Adopts Pay Versus Performance Disclosure Effective for 2023 Proxy Season
More than seven years after issuing proposed rules, on August 25, 2022, the Securities and Exchange Commission (SEC) adopted final rules implementing the pay versus performance disclosure requirement mandated by the Dodd-Frank Act. Beginning with the 2023 proxy season, public companies will be required to include in proxy or consent solicitation material for an annual meeting of shareholders additional disclosure showing the relationship between executive compensation actually paid and the company’s financial performance. READ MORE