Federal contract workers call for wages to keep pace with inflation

Employees working for the largest federal food service contractor, Sodexo, are raising concerns about lagging wages to Congress in hopes lawmakers will support more competitive wages on government contracts.

Members of Unite Here, a labor union representing 300,000 employees across various industries, picketed outside the Federal Reserve building in New York last week, saying inflation further erodes wages that already lag behind the private sector. And on Sept. 13, members who work in the House of Representatives, the FBI and Fannie Mae will rally in Washington, D.C. READ MORE

What is a compensation committee: Roles, responsibilities and best practices

A compensation committee is the portion of a corporate or nonprofit board that selects and reviews salary and other forms of compensation. It must balance the organization’s financial realities with investor expectations and ultimately create competitive retention strategies. Compensation committee responsibilities include advising the board and strategically selecting what to include in a compensation package. READ MORE

Boosting wages for new hires? What that means to your current employees

Amid the battle to attract and retain talent—and stay competitive as inflation remains high—many employers are upping the ante for potential hires.

But, a new survey finds, that attention on wooing employees is much to the chagrin of current employees, many of whom are suffering from financial stress as they reel from the soaring cost-of-living and seek help from employers in the form of compensation increases. 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

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