5 Industries With The Most Job Openings, Least Competition And Six-Figure Salaries

According to the Bureau of Labor Statistics, 6.5 million people in the U.S. are currently unemployed. But the good news is there are literally millions of competitors with openings for job seekers on the hunt for a new position. Let’s face it, job hunting is stressful. Sometimes the anxiety is so great that the stress of job seeking can lead to an array of mental health issues for applicants. READ MORE

Starbucks investors vote to remove diversity and sustainability references from executive pay package

Earlier this week, after Starbucks’ annual shareholders’ meeting, company investors voted on several initiatives, including a new executive compensation package that would omit diversity and sustainability goals from bonus considerations for top leadership at the company. Shareholders voted overwhelmingly (90% yes votes) to approve the new compensation packages, though the vote is technically nonbinding to company policy.

This bonus initiative was first introduced in 2020 as a company-wide effort to support diversity, equity, and inclusion at Starbucks and was quickly emulated by other major foodservice chains nationally, including Chipotle, which increased the percentage of its executive bonus ties to company ESG goals from 10% to 15% in 2022. READ MORE

How companies will claw back executive incentive compensation

While some organizations may be planning to rely on the compensation committee to deem executive incentive recoupment costs as “impracticable” so they can avoid enforcing now mandatory clawback regulations, this is not a get-out-of-jail-free card.

Companies must disclose why recoupment is impracticable, including details about how they calculated the amounts to be recouped. There is an overarching concern that shareholders, proxy advisors and the media will question the calculation that supports not seeking recoupment. We also anticipate that these same audiences will ask why the company did not have a mechanism in place to help ensure that officer-earned compensation is within reach. READ MORE

Climate Metrics Surge in Executive Compensation Plans - From 25% to 54% in Just Two Years

The share of S&P 500 companies integrating climate-related metrics into their executives’ compensation plans more than doubled over the past two years, according to a new report from The Conference Board based on disclosure data from ESGAUGE.

Executive compensation was tied to climate-related metrics by about 25% of S&P 500 firms in 2021 but rose to 54% in 2023. The percentage also doubled in the Russell 3000 index, going from 16% to 32%. READ MORE

Doubly-Binding Director Say-on-Pay

The TSLA board comp case was vastly interesting and even some fun. I learned a lot about Delaware Chancery Court, figured out how to navigate the befuddling File-and-Serve system, and visited Wilmington to argue our objection to the proposed settlement. I had a terrific time talking with Ron Orol at The Deal about the experience.

You’ll recall the proposed settlement provided for TSLA shareholders to vote on director pay. We objected because it arguably did not require directors to abide by the vote result. READ MORE

Proposed Rule by the Federal Acquisition Regulatory Council Would Ban the Use of Salary History Data by Federal Contractors and Require Disclosure of Salary Ranges in Job Postings

On 29 January 2024, the Federal Acquisition Regulatory Council (FAR Council) issued a Notice of Proposed Rule Making (NPRM) that would prohibit federal contractors and subcontractors from seeking and considering information about applicants’ compensation history when hiring or setting pay for individuals working on or in connection with a government contract. On the same day, the Department of Labor’s Office of Federal Contract Compliance (OFCCP) issued Frequently Asked Questions expressing its view that salary history is not a legitimate non-discriminatory reason for pay disparities.

These actions echo actions by states including California, New York, and Washington that have banned employers from considering salary history when making employment decisions and enacted pay transparency laws requiring inclusion of salary ranges in job postings. READ MORE

Amazon's senior employees may not get a cash pay raise this year

Amazon.com Inc said on Wednesday its senior employees, whose compensation includes more stock-related awards than cash, may not receive a cash pay raise this year.

"For this year's compensation cycle, we are prioritizing cash base pay increases for employees whose compensation is weighted more heavily in base pay as opposed to stock," an Amazon spokesperson said in an emailed statement. READ MORE

Boeing CEO could walk away with $24m compensation after quitting amid safety scandals

Boeing CEO Dave Calhoun could walk away with a $24m compensation package after quitting following a string of incidents that have sparked major safety concerns.

Mr Calhoun announced on Tuesday he would be resigning from his role as CEO at the end of the year following what he described as a “watershed moment” for Boeing after a panel on the side of an Alaska Airlines plane blew out mid-flight. READ MORE

Companies plan 4.5% pay raises this year, outpacing inflation

Employers last month added 275,000 jobs, a higher-than-expected increase that veiled a cooling in wage gains and the overall labor market. Average hourly earnings last month increased only 0.1% compared with a 0.5% monthly gain in January.

Also, the unemployment rate rose to 3.9% and the Labor Department revised down the number of payroll gains in January to 229,000 from the earlier reported figure of 353,000. READ MORE

Employees Seek More Personalized Total Rewards Packages

In an increasingly competitive hiring environment, employers are learning that recruiting and retaining talent doesn't simply come down to the benefits they offer — it's also about how much employees are able to personalize their total rewards. 

The top request from employees related to improving compensation is having more types of rewards and the opportunity to personalize their rewards packages, according to Mercer's 2024 Global Talent Trends study. READ MORE

A Guide to Salary Transparency Laws Across the United States

At present, there is no federal pay transparency law in the United States. However, as Archinect frequently reports on, several states and cities across the United States have enacted their own requirements for employers seeking to hire or promote within their organization. 

Below, we have listed the details of salary transparency laws across American cities and states as they exist in March 2024. As is noted towards the end of this resource, several more states with no existing requirements are currently in the process of debating or passing legislation to strengthen salary disclosure requirements.  READ MORE

Layoffs And Pay Cuts Hit CEOs And Managers

Rank-and-file workers are not the only employees that have been impacted by the widespread layoffs and cost-cutting measures that have taken hold since the Great Resignation. In 2023, nearly half of all observed job cuts were manager-level or higher, according to research from Live Data Technologies. Layoffs in leadership made up almost two times the share of total terminations compared to the previous five-year average. READ MORE

US salaries are falling. Employers say compensation is just 'resetting'

Salaries for new roles are stagnating – and in some cases, falling. Some employers may be looking to cut costs, but the lack of wage growth may be a matter of post-pandemic correction.

The mass US layoffs of the past few years are continuing. In 2024 alone, thousands of workers across many sectors, including media and technology, have lost their jobs and are on the hunt for new ones. But some are finding an unwelcome surprise as they scan listings for open roles. A salary bump is all but impossible; in many cases, wages seem lower than their previous pay – even for the same jobs. READ MORE

Ex-Morgan Stanley Brokers Win $3 Million in Deferred Compensation Claim

Seven former Morgan Stanley brokers have won more than $3 million over allegations that the firm improperly withheld their deferred compensation when they moved to competitors, according to an arbitration award finalized on Friday. 

The arbitration award could have broad implications for as many as 150 other ex-Morgan Stanley brokers who are arguing that the firm violated the Employee Retirement Income Security Act of 1974 by requiring them to forfeit backpay, according to Alan Rosca, one of the lawyers who represents the seven brokers. READ MORE

More companies tying executive compensation to ESG metrics

More companies are tying executive compensation to sustainability metrics despite ESG backlash, according to a report by compensation consultant Farient Advisors.

“Companies are aware of an ESG backlash in the U.S., but maintain their focus on long-term value drivers, which often are inextricably tied to ESG factors,” said the report, 2024 Global Trends in Stakeholder Incentives: What’s Next?  READ MORE