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The Journal.

Show Me the Money: More Job Listings Have Salary Details

The Journal.

The Wall Street Journal

News, Daily News, Business News

4.25.8K Ratings

🗓️ 3 November 2022

⏱️ 19 minutes

🧾️ Download transcript

Summary

Companies trying to hire in New York City had to revamp their job postings this week. A new law requires salary ranges on all job postings, the latest in a wave around the U.S. WSJ's Chip Cutter and Ben Cohen explain how the law can affect the power dynamics between workers and employers and how companies might try to find workarounds. Further Reading: -Is Your Colleague Earning More Than $200,000 a Year? Now You Can Find Out -JPMorgan, Macy’s and Other Companies Reveal What They Pay Workers -California Employers May Soon Need to Disclose Pay on Job Listings -Success at Work Is Warped by Your Co-Workers’ Salaries Further Listening: -U.S. Soccer’s Equal Pay Deal and One Player Who Helped Negotiate It Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

Well, do you want to start out by just introducing yourself and telling me how much money you make?

0:10.3

We're all, this is the era of salary transparency, right?

0:15.1

Like we should all just be telling our colleagues our pet.

0:17.7

Yeah, that's what we're supposed to be doing.

0:19.4

So you go first.

0:22.8

That's my colleague, Chip Cutter, who never did tell me how much he makes.

0:27.2

It's just not something you normally talk about.

0:29.6

But as of this week, workers in New York might start having more of those awkward conversations

0:35.2

because the city became the latest place to require that job postings include salary ranges.

0:41.7

And Chip says that this new law in America's biggest city will have major implications.

0:47.6

Pay is an issue that employers had all the information for so long, right?

0:52.6

They've been the ones that knew the salaries.

0:54.9

They did not want it to be discussed in the workplace.

0:57.0

They didn't want job seekers to have that information up front.

1:00.3

And now this wave of legislation is really forcing them to do so.

1:04.1

It's one state after another.

1:05.8

It's a number of big cities like New York now putting these laws in place.

1:09.8

We're really at this kind of a new shift of power.

1:15.9

Welcome to the journal, our show about money, business, and power.

1:20.2

I'm Ryan Knudsen.

1:21.8

It's Thursday, November 3rd.

1:29.5

Coming up on the show, how a new wave of salary transparency laws could remake the workplace.

...

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