In recognition of the 15th anniversary of the Lilly Ledbetter Fair Pay Act, the Biden administration released on Monday, January 29th, a Notice of Proposed Rule Making (NPRM) that would prohibit federal contractors from using job applicant’s prior salary history when setting pay and would require federal contractors to post the expected salary range in its job postings. READ MORE
Which Tech Hubs Pay the Most?
Which tech hubs pay tech professionals the most? While older hubs such as Silicon Valley and New York City are famous for shelling out sky-high salaries for specialized technology skills, the burgeoning tech scenes in other cities can likewise translate into significant paychecks.
According to Dice’s latest Tech Salary Report, tech salary growth slowed in 2023, dipping slightly to $111,193 (compared to an average salary of $111,348 in 2022). Tech professionals with five or fewer years of experience, along with talent working in major tech hubs such as Silicon Valley, Seattle and Boston felt this salary stagnation the most, while other regions enjoyed an increase in compensation. READ MORE
After Compensation Loss, Musk Weighs Moving Tesla’s Incorporation to Texas
Everything's bigger in Texas, as the saying goes. Elon Musk hopes that applies to his compensation package as well.
After a judge in Delaware voided Elon Musk's $56 billion pay plan from Tesla late Tuesday, its billionaire chief executive is considering moving the automaker's incorporation to the Lone Star state, according to his posts on X. READ MORE
I think Elon Musk deserved his $55 billion comp, but it doesn’t mean he should get it
I think Elon Musk deserved his $55 billion Tesla CEO compensation plan, and I voted for him to get it, but it doesn’t mean he should get it.
I would probably vote for it again. Hear me out.
There’s a lot of confusion among the reactions to the judge’s decision to rescind Elon’s $55 billion CEO compensation plan from Tesla. READ MORE
More than 80% of Companies Adopting ESG Metrics in Exec Compensation Plans
Companies globally are increasing the use of ESG factors in their executive compensation programs, with more than 80% of incentive plans now incorporating at least one ESG metric, and the integration of environmental metrics rising particularly rapidly, according to a new study released by professional services and solutions provider WTW.
For the study, WTW’s fourth annual Report on ESG Metrics in Executive Incentive Plans, WTW reviewed the public disclosures from over 1,100 listed companies across North America, Europe and Asia Pacific. READ MORE
Elon Musk's blocked $50B Tesla pay package is about more than corporate compensation
Elon Musk may be one of, if not the wealthiest person in the history of the human race, but in some ways, he's just like you and I. For instance, much like Musk, you and I also are likely not getting a corporate compensation package worth $50 billion anytime soon. But while you and I were (probably) not counting on such a generous payout in the first place, Musk very much was. READ MORE
Over 50% of Americans would take a 20% pay cut for 'work-life balance. But can they retire?
How much is quality of life worth to you? It turns out, most people believe it’s 20% of your paycheck.
Of 16,086 adults worldwide surveyed between August 11 and September 1 by Ford Trends, 52% overall and 51% of Americans said they would accept a 20% pay cut to prioritize their quality of life. READ MORE
Elon Musk won’t get his $55 billion pay package after all
Elon Musk isn’t going to get that $55 billion pay package after all, a Delaware Chancery Court judge has ruled.
Tesla shareholders approved the package in 2018, which gave Musk incentive to hit specific milestones, including a market valuation of $650 billion, which was more than 10 times the valuation at the time. The trial hinged on a specific question: did Musk mislead the shareholders when he gave them the plan? READ MORE
OPM: Federal salaries won't be tied to private sector pay histories
The Office of Personnel Management issued a final rule Monday limiting the criteria on which federal agencies can set salaries for new or returning federal civilian employees.
Under the regulation, agencies may not use non-federal salary histories when establishing pay for employees in General Schedule, prevailing rate, Administrative Appeals Judge, Administrative Law Judge, Senior Executive Service and senior-level and scientific or professional pay systems. READ MORE
Average tech salaries decreased in 2023, according to a new Dice report. The company’s CEO says you shouldn’t worry
Dice’s annual Tech Salary Trends report released Tuesday found that in 2023, tech salaries stagnated and even slightly dipped by $155 to an average of $111,193. For comparison, from 2021 to 2022, average tech salaries grew by 2.3%.
Some of the occupations with the biggest statistically valid declines include among cloud architects/engineers (-15.8%), and product managers (-6.7%). On the flip side, other occupations saw significant salary growth, such as systems administrators (+11.2%), software developer (+6.5%), and program analyst/manager (+6.1%). READ MORE
How Long Does It Take For Tech CEOs To Make Your Salary? Find Out Here
We all know that Elon Musk (currently the second richest in the world After Bernard Arnault) is very rich. In fact, Mr Arnault, Mr Musk, Jeff Bezos and others are richer than many countries on the planet. It would be interesting to know how long it would take a tech CEO earn your entire year's salary, tackle your entire student debt or pay off your entire mortgage. There is a website that will give you these exact numbers, as they apply to 15 tech moguls.
The company that has created the website says it uses data on salary, bonuses, earnings from equity and other forms of compensation. It is based on the 2019 SEC filings, so the latest wealth figures are expected to give you more heartburn. READ MORE
How to make green incentives pay
Hello from Miami. I’m here at the iConnections Global Alts conference to moderate a panel on impact investing.
And it is a good time to talk about impact because sustainable investing overall has had a difficult few months. Our colleagues on the climate team dug into the Morningstar numbers for sustainable investing in 2023. Climate-focused funds attracted $37.8bn of new investor money in 2023, compared with a record $151bn in 2021, they reported. Last year was the weakest for net inflows since 2019, when interest in green investments intensified. READ MORE
ADM postpones some executive bonuses amid accounting probe
Archer-Daniels-Midland Co will delay paying performance bonuses to some executives until its financial statements are completed and audited, according to a staff memo seen by Reuters.
The delay, detailed in a memo sent to staff on Thursday, comes days after ADM sidelined its chief financial officer and brought in outside lawyers to launch an investigation into accounting practices last week. READ MORE
North American companies continue to link executive pay programs to ESG measures
The adoption of environmental, social and governance measures in executive incentive plans continues to increase across markets, especially in North America, according to a new report by WTW.
The report, which reviewed public disclosures from more than 1,100 global companies, found metrics related to human capital remained the most popular across all ESG categories, used by 75 per cent of TSX 60 companies and 70 per cent of S&P 500 companies. READ MORE
Compensation Driving Two-Thirds of Employees to Job Hunt in 2024
Two-thirds of employees have one foot out the door due to changing job hunting motivators, according to the sixth annual 2024 Engagement and Retention report from Achievers Workforce Institute (AWI). AWI is the research and insights arm of Achievers, the global leader in employee experience solutions, with a focus on recognition, employee voice, and connection. READ MORE
Walmart to offer managers company stock as compensation
The country’s largest retail store will now hand out stock grants to store managers as part of compensation packages. Walmart Inc. announced the change Monday, adding to an increase in salary made earlier this month.
Store managers can now see stock grants as high as $20,000 per year for the largest stores, with smaller store managers eligible for grants of $15,000 or $10,000. READ MORE
A Road Map for Developing Your Global Pay Equity Strategy
Pay transparency legislation aimed in part at helping to improve pay equity continues to expand around the world. But organizations won’t achieve global pay equity through legal compliance alone. Developing a global pay equity strategy is also essential. Employers that create such a strategy are more likely to achieve pay equity and to enjoy resulting benefits such as the ability to attract and retain top talent, increased levels of employee engagement and trust, and more inclusive cultures. READ MORE
Why Compensation Cost of Sales Is a Metric That Deserves Your Attention
Now that it’s January, your 2024 sales compensation program has been rolled out and everything is in place for a successful sales year. As the year progresses, however, someone will eventually ask, “Is our compensation program competitive? Are we paying too much or not enough?” Often, there’s a rush to look at target pay levels when the problem lies in other areas. This is why leaders should measure and benchmark their compensation cost of sales (CCOS).
CCOS is an important metric on your sales dashboard — both a leading and lagging indicator that, when properly understood and interpreted, can point toward useful action. It is also a useful measure that helps steer a broader conversation about salesforce investment beyond target pay levels. READ MORE
D.C.’s Pay Transparency Law Aims to Close Severe Gaps
Washington, D.C., is on the brink of joining a growing group of state and local jurisdictions requiring pay transparency in job postings and recruiting practices.
Mayor Muriel Bowser signed the Wage Transparency Omnibus Amendment Act of 2023Open in a new tab on Jan. 12, though the law will not go into effect until June 30 (it requires Congressional approval). READ MORE
Wayne LaPierre says he approved helicopter rides so NRA execs could avoid traffic while going to NASCAR races
National Rifle Association leader Wayne LaPierre testified Monday that he authorized thousands of dollars in helicopter rides so that executives of the gun rights group could avoid getting stuck in traffic while traveling to and from NASCAR races.
On his second day on the stand in his civil corruption trial, LaPierre, 74, was shown three invoices for helicopter services, totaling more than $16,000. He confirmed that he approved those flights in 2015 and 2016 and said helicopter trips were a “practice” at the time. READ MORE