EEOC Title VII: What It Means for AI & Pay Equity Compliance

Employers that use AI and automated systems such as pay equity software to streamline workplace processes have received a stark reminder about potential employment discrimination violations.

On May 18th, the EEOC released a technical assistance document outlining the application of Title VII of the Civil Rights Act of 1964 to automated systems incorporating artificial intelligence (AI) in HR-related uses. The document aims to prevent discrimination caused by AI to job candidates and employees, including areas affecting pay equality. READ MORE

Around 79% of American workers believe AI will threaten their salary and lead to pay cuts, new survey finds

American workers are concerned about the adoption of AI in the workplace, especially the prospect of wages declining across the country, a new survey found.

The survey, carried out via survey platform Pollfish and commissioned by employment screening service Checkr, polled 3,000 employed American workers between April 27 and 28, 2023. An equal number of Boomers, Gen Xers, Millennials, and Gen Z were surveyed as part of the report. READ MORE

What do new grads want from an employer? To start, a salary range

In the past year, layoffs and hiring yo-yoed across industries, creating a sense of whiplash and anxiety for graduates of the Class of 2023. After witnessing the class before them enter a job market of inflated salaries and extraordinary perks, 2023 graduates are resetting their expectations, and focusing on some particular priorities, according to a recent report.

In its eighth annual “Class of” report designed to uncover how college graduates’ career expectations meld with HR professionals’ hiring plans, iCIMS, a recruitment software company, surveyed 1,000 college seniors and 500 HR/recruiting professionals. READ MORE

The law vs. salary secrecy

"How much money do you make?"

If that question freaks you out, there's likely a good reason. Whether it's because of the fear of reprisal from an employer or plain social convention, not talking about your salary has, for generations, been the status quo. But in the last few years, increasing pay transparency has become a common cause for young workers, anti-discrimination advocates, and, increasingly, state legislators. READ MORE

Startup CEO Salaries Decline to 2019 Levels

The average startup CEO salary in 2023 is $142,000, down from $150,000 in 2022 and $146,000 in 2021 and back to the same level as 2019. The decline is attributed to increasingly restricted capital markets and the resulting requirement to extend cash runways.

Importantly, the pay gap between male and female startup CEOs is closing, but remains wide after the dramatic spread that took place during the pandemic. In 2019, there was a $5,000 difference between male and female CEOs that increased to a $45,000 difference during the pandemic in 2020. In 2021 that spread lessened to a $16,000 difference and a $20,000 difference in 2022. This year, the spread has improved modestly, to a $14,000 difference between male and female startup CEOs. Male CEOs earned an average of $145,000 this year, while their female counterparts earned an average of $131,000. READ MORE

What Is a Living Wage? Definition & Related Concepts

A living wage is the minimum amount of income a person or family requires to meet their basic needs without assistance in the place where they live and work. Typically, earning a living wage means making enough money to pay for housing, utilities, food, healthcare, clothing, transportation, childcare (if applicable), and any other necessities with a small margin left over for emergencies and unexpected expenses. READ MORE

See What a $100K Salary Looks Like After Taxes in Your State

A six figure salary is a goal for many people. However, even if you're fortunate enough to make a six-figure salary you may take home a lot less home after taxes, depending upon the state you live in.

If federal taxes seem to take a big enough chunk, there are also FICA deductions, social security taxes, and you might have to pay state and local taxes, depending on where you live. Each state has its own tax brackets and rates, so how much of your hard earned money goes to taxes varies by state. READ MORE

From Illinois to Hawaii, States Race to List Salaries in Job Ads

Bills requiring salary ranges in job postings have become a priority for several state legislatures, most recently Illinois, adding to the variety of pay transparency rules employers must learn to navigate nationwide.

Illinois and Hawaii soon will join a fast-growing list of state and local governments requiring salary information in job ads, assuming the states’ governors, both Democrats, sign the legislation (Illinois HB 3129 and Hawaii SB 1057). Employment lawyers see Massachusetts as next in line to pass a similar law, given its history of pay equity legislation. READ MORE

Certifications can boost your salary by as much as 20%. Here’s how you can boost your own pay

In the aftermath of the pandemic, many companies slowed down their hiring and were more conservative about handing out raises and promotions in an effort to stay afloat amid the ongoing economic uncertainty—to many workers’ dismay. 

But waiting on your boss to give you a raise isn’t the only way to increase your salary. You could make a strong case for a pay bump if you can prove that you add more value to your company. 

One concrete way to do that is to work toward expanding your skillset.  READ MORE

CEOs of Major US Companies Who Are Paid 1000 Times More Than Their Employees

CEOs of companies listed on the S&P 500 earned an average of $18.8 million last year, up about 21% from the previous year, Times recently reported. This jump in executive pay came despite an 18% drop in the market index in 2022.

Many of these CEOs were gifted generous stock options by their boards as a reward for steering their companies through the challenges of the coronavirus pandemic. But the ratio of CEO pay to the typical earnings of company employees has been trending upwards for decades, due largely to an increase in the use of stock-based compensation. READ MORE

Mandatory Executive Compensation Clawback Policies: The Time Is...Soon

On April 24, 2023, the US Securities and Exchange Commission (the SEC) designated Sunday, June 11, 2023, as the date by which it would either approve or disapprove the executive compensation recovery — or clawback — rules proposed by the New York Stock Exchange (the NYSE) and the Nasdaq Stock Market (the Nasdaq). If that date holds, and the SEC acts to approve the proposed rules, they will take effect on August 8, 2023 (the Anticipated Effective Date), and public companies will need to adopt a compliant compensation recovery policy by that date. Our previous client alert discusses 10D-1 in detail. READ MORE

Popular bachelor's degrees and high-paying jobs don't always align

A recent study found that some of the most popular college bachelor’s degrees don’t always lead to high-paying jobs and the author of the study is challenging prospective college students to make an informed decision about their career choice. 

"We hope our data remains helpful for those considering college," Michael Itzkowitz, a former Education Department official under the Obama administration wrote in a Twitter post. "It’s important that wherever students attend—and whatever field of study they choose to pursue—they leave knowing it was worth it." READ MORE

How to Close Your Wage Gap and Open Equity at Work

The wage gap might seem like old news, but things aren't improving. For some populations, the wage gap has even widened since the pandemic.

Women and people of color were disproportionately impacted by unemployment and more likely to experience an "earnings penalty" when returning to work. According to Payscale's 2023 State of the Gender Pay Gap Report, women of color in particular experience the widest pay gap. For every dollar white men earn, American Indian women make 72 cents, Hispanic women make 79 cents, and Black women make 80 cents. READ MORE

The Making Of A Millionaire, And Why $100K Is No Longer The Benchmark Salary For Wealth In America

There are over 24.4 million people in the United States with wealth greater than $1 million, according to the Global Wealth Report by Credit Suisse.

Possessing a net worth—the value of all of your holdings minus your liabilities—of $1 million will not automatically place you in the gilded top 1%. To enter this high-end club, you must have a minimum net worth of around $11.1 million. READ MORE

Found out you’re paid less than your colleagues? Here’s what you can do about ‘wage compression’

Pay transparency laws — which mandate that employers have to disclose salary ranges — have several benefits, including pay equity and more successful negotiations during the hiring process.

But it can lead to more dissatisfaction and resignations, as employees “detect inequities” among themselves, according to people analytics firm Visier.  READ MORE

IT Salary Outlook Positive; Work-Life Balance and Base Pay Top Priorities for Technology Professionals Finds InformationWeek’s U.S. IT Salary Survey

InformationWeek, the world’s most trusted business technology resource, today unveiled the InformationWeek 2023 U.S. IT Salary Report: Rising Salaries and Closing the Gender Pay Gap. Despite rising labor costs, economic inflation, and companies making an effort to cut back, the salary outlook for IT professionals is positive. Work-life balance and base pay top the list as what matters most to IT professionals when it comes to their jobs. READ MORE

Average Salary By Age In 2023

According to the U.S. Bureau of Labor Statistics’1 research on American earnings across various age groups, the median salary in the United States reaches its zenith within the 45 to 54 age range. We took a closer look at the data for average salary by age in the United States and found and broke down the insights we found. READ MORE

Amazon's stock isn't enough to keep workers loyal, high forfeiture rates show

It was through an internal leak that Monique found out she was among the group of employees being laid off from Amazon in April. Having had time to go through some of the stages of grief, like anger, denial, and depression, Monique, who works in human resources, said she was in the acceptance phase when the company emailed her at 7:00a.m. one day that her role was eliminated.

Monique joined the 27,000 workers Amazon announced it would cut earlier this year.

Monique, who asked for Insider not to use her real name for fear of retaliation, said she hadn't planned to stay with Amazon for much longer anyway. READ MORE

Has Total Rewards Totally Changed?

In the past year or so, even as the world seemed to be climbing out of the worst of the pandemic, the total rewards conversation has shifted to become focused on the total person.

Our employee communications agency first noticed this change in the benefits conversation when working with a major healthcare organization located in a Covid-19 hot spot. Their physicians, clinicians and other employees were exhausted and overwhelmed, fighting depression, anxiety and burnout. READ MORE