The rollout of New York City's salary transparency law on Nov. 1 was kind of a disaster.
salary transparency: It encourages them to apply to jobs and improves the hiring experience."It takes away the burden of feeling there has to be a long and hard negotiation at the end," Sutherland-Wong says. By the time candidates get to the offer stage,"people will know you're being transparent and not low-balling them. Employees appreciate knowing where they stand and that they are being paid fairly.
Before it was required by law, jobs with greater salary transparency tended to concentrated in low-wage and hourly work, like in the food service industry, Sutherland-Wong says. And though six-figure pay ranges drew the ire of the internet, less than 3% of daily active job listings in November have a salary range wider than $100,000, per Glassdoor.,"there's more work to be done here, and it's still early days," Sutherland-Wong adds."It'll take some time for companies to get their act together."As experts predicted, NYC's law is pushing employers elsewhere to enact their own salary transparency policies.
Experts say it's only a matter of time until requirements come to the rest of the U.S.: Colorado instituted its own pay disclosure law in January 2021, and similar laws are coming to California, Washington and Rhode Island by 2023.
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