Mariann Madden is the North America Fair Pay co-lead at WTW, a global human resources consulting firm.
Under a new New York City law, companies that post a job that may be performed in New York City are required to include a salary range, even for jobs that are hybrid or remote. California also has a new salary-transparency law, and 15 other states have some kind of transparency requirement. What’s behind these initiatives?
It’s twofold. One is to help reduce the pay gap among women and minorities. Studies have shown men tend to achieve higher pay in negotiating job offers than women, and that may happen because they don’t have access to information about pay. Given how small salary budgets are, if a new hire starts a job with a salary on the low end of their peers, it’s difficult to catch up, even when they’re promoted to higher-paid jobs.
Second, at a time when the cost of living is rising, these laws can help workers understand whether the job will cover their basic needs, such as rent and gas to drive to the workplace.
Esta historia es de la edición February 2023 de Kiplinger's Personal Finance.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor ? Conectar
Esta historia es de la edición February 2023 de Kiplinger's Personal Finance.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor? Conectar
My Top 30 Index: An Update
A year ago, I put together what I called \"my own reinvention\" of the Dow Jones industrial average, the popular 142-year-old large-cap index.
Balance Your Risk and Reward
These new ETFs let you cut stock market losses. But you'll sacrifice some gains.
IS A HYBRID CAR RIGHT FOR YOU?
Hybrids offer a fuel-saving option for drivers who have reservations about all-electric vehicles. But there are trade-offs.
HOW TO REACH YOUR INVESTING GOALS
Patience helped these four investors make their portfolios work for them.
WHERE TO INVEST NOW
Expect a lot of midyear churn, with a rally toward the end of 2024.
TIPS FOR FINANCING A HOME PROJECT
I recently had a call with a client who was looking to fund the construction of a swimming pool at his house.
MORE WOMEN THAN EVER ARE STARTING BUSINESSES
Retail and travel businesses, along with health, beauty and fitness, are popular with women entrepreneurs.
Finding Home Health Care
It’s important to hire a caregiver you trust.
UNDERSTANDING BOND FUND YIELDS
What's a 30-day SEC yield? A trailing 12-month yield? A yield to maturity? We explain what each measure says about an income fund.
ANSWERS TO YOUR QUESTIONS ON STUDENT LOANS
If you have federal student loans, you may benefit from new government policies. Here's what you need to know.