Pay transparency is coming - The Hustle
The Hustle

Pay transparency is coming

NYC’s pay transparency laws went into effect this week.

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If you’re considering a new job, you want to know how much it pays, right? But how often do you find bullshit non-info like “competitive” instead?

In NYC, employment agencies and businesses with over four employees — including at least one located in the city — must now include base pay in job listings, per NPR.

Some companies are compliant with the new rules, which went into effect Tuesday, while others earned a thumbs-down from NiemanLab for absurd ranges — like The New York Post’s $50k-$145k for a tech reporter.

Why it matters

Pay transparency is on the rise, with similar laws in place or coming domestically and abroad.

As a result, people won’t waste time applying for jobs only to find out they underpay, while businesses that do offer fair compensation will attract top talent.

Pay transparency also:

And although many states are banning employers from asking for salary history, being underpaid can still haunt workers long-term.

Remember, that’s not just less in your pocket, but in retirement savings, too.

BTW: Need to negotiate your salary? We’ve got tips.

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