NYC Job Listings Will Have to Include Salaries Starting Today, See What States Are Next
If you’re job hunting in New York City, there will no longer be any question of how much the gig might pay. Starting today, NYC has instituted a new law that mandates employers list salary ranges in all job postings.
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According to CNN, any NYC employer that has at least four people on their payroll (including at least one who works in NYC) will have to include minimums and maximums for salaries or hourly earnings whenever they list a new job. Until now, many have not overtly disclosed these ranges in job postings.
The new law will affect 4 million New Yorkers, per CNBC, and will be in effect for postings for new jobs, transfers and promotions. The range will have to be included on every platform — including the company’s website as well as external job boards like Indeed, LinkedIn and Glassdoor. The listing will also need to be specific, rather than a vague “$20/hour and up” description.
As well, this new law applies to full-time and part-time jobs, independent contracts, internships and any other type of work that is covered under NYC Human Rights Law.
New Law Promises Transparency in Employment
The idea is to provide more transparency when it comes to potential income, which is poised to have several significant effects while seeking to close the gender and racial pay gap.
For one thing, it will allow any job seeker to know the pay range before investing their time in applying, interviewing and taking additional steps in the hiring process. Secondly, it will help current employees know what their company is offering to new hires and use it as a metric for requesting a raise for their role, or to even seek new employment if they feel they are not being fairly compensated.
And finally, companies will have more pressure to keep up with fair market wages — especially in a populous urban center like New York City — in order to keep up with the competition that might draw qualified candidates, instead.
In the age of remote work, this new initiative will have even more impact for any workers who live in New York City, even if the company is not headquartered there. Even remote employees will get to know what they could potentially be making when applying for the job.
If a company does not comply, there are strict fees involved up to $250,000 as well as other provisions such as trainings, payment of damages and additional penalties as a result.
New York City Joins Colorado, California in Wage Transparency
New York City’s move is on the forefront of a wave of pay transparency that is starting to take hold in America. Colorado already has such measures in place as of January 2021, per HR Dive. New York State will be doing so on a larger scale in 2023.
And California will be the next big metropolis to institute the initiative as of Jan. 1, 2023. There, any company with more than 15 employees will have to include pay ranges in job postings for gigs in the state. This move will affect nearly 200,000 companies and 19 million workers, per CNBC, including the lucrative Silicon Valley hub which is home to giant megacorps like Apple, Google and Meta.
As part of California’s new legislation, employers will also have to provide pay data to the California Civil Rights Agency, compartmentalized by gender and race. These checks and balances aim to ensure more equity for women workers and workers of color.
According to workers rights advocacy group Equal Pay Today, women still make just 83 cents for every dollar their male counterparts earn, and Black women fare even worse, making just 67 cents for every dollar their white male colleagues earn.
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Nevada, Connecticut, and Washington State Coming Aboard
Other states are also coming on board with a version of pay transparency. Per CNBC, Nevada employers automatically provide a salary range to prospective employees immediately after the first interview — and Connecticut and Washington state employers must provide ranges if a candidate asks for it.
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This article originally appeared on GOBankingRates.com: NYC Job Listings Will Have to Include Salaries Starting Today, See What States Are Next
