Companies lower salaries in job postings as pay transparency laws take effect
Companies lower salaries in job postings as pay transparency laws take effect
Pay transparency laws have made more employers disclose salary ranges in job listings. Yet, a new report finds advertised wages aren’t growing as expected.
The point wasn't to just raise salaries, but to curtail deceptive practices. I'd rather know they're lowballing me before starting the interview process.
Lol 'lower salaries' they were never legitimately offering those salaries you boot gobbling fool
Last place I interviewed, recruiter and I agreed with my qualifications etc I should ask for 90k. They hired someone for 67.5k with no qualifications. The person literally took a pay cut to take the job. I don't get it.
Employee estimate: $75,000-$90,000
Actual offer: $60,000 and we won't tell you what the health insurance is like until after you start.
“While they were being very competitive externally, they were threatening internal equity and internal incentives,” Pollak said. “There needs to be some [salary] growth year after year to keep people around and to keep them engaged.”
Translation: “If we advertise at market rates, our employees might figure out they’re all being underpaid.”
These same companies: "Nobody wants to work."
I'm currently being underpaid roughly 12 to 20k compared to my coworkers because my job title is slightly different. Yet I'm the one training all of them. I'm going to leave when I can but I've been stuck for a while. Might have to find a completely different job/career eventually.
Salary range: $35k - $270k
Was looking at a job posting for a role in CA and the range was, I shit you not, 75k-395k.
What that says to me is they are not looking to fill a specific position. They are collecting resumes for whatever internal backlog and, should they have a need, they'll fill any necessary positions at those salary brackets from their resume pile.
Sounds like software engineering
Exactly. Literally saw that yesterday.
Lmao I literally just got a linkedin email of a job posting in Netflix for a role similar to my current job. The salary range? 100k-700k.
I thought I was already exaggerating a little with 35k to 270k. But now I feel it was realistic.
On a side note, please don’t even consider taking a job at Netflix. Everybody who works there is always under threat of losing their job. They constantly reevaluate employees and managers are forced to churn through people even when their team is working well. The culture is absolutely savage.
The article is written by people who don't know history. Talking about salaries was never taboo, as the law clearly states, and of course unions always have done so, but companies tried to pretend the topic was off limits.
Taboo and illegal are not the same though
It's definitely been taboo within us companies
Talking about salaries was never taboo
The employee handbook of Cobleskill Regional Hospital in Upstate NY in 2000 put talking about your pay with another employee as a fireable offense.
Yes of course. Companies can put a lot of things in their company handbooks if they want to, and that comes with legal risk.
The real number I'd like to know is how much value my labor is actually producing versus what they pay me.
That would be some fun transparency. You could compare ratios and that ratio would be a number people talk about.
That's pretty difficult for a lot of jobs. For someone in sales, easy, you can look at the value of the contracts they bring in. For someone who works in facilities maintenance or tech support? Good luck figuring that out.
For someone in sales, easy, you can look at the value of the contracts they bring in.
I would argue against this. As someone whose sales guys overpromise just to get the contract signed, in order to see how much they actually bring in I would subtract the number of overtime hours/additional effort we need to invest compared to their initial sales pitch. Or, you promised feature X is delivered in the first 2 years? Well when the customer doesn't get it and complains about it, that's going to be subtracted from your next signing bonus.
Listen, I know the job is made so that they bring in the most contracts possible and then the techs need to figure out the rest. But if the company constantly gets in trouble with the same few big-name customers in the industry (making them not want to sign with us in the future because of unrealistic promises), maybe it's time to consider that Sales' approach is sometimes detrimental?
Businessmen, they drink my wine
Plowmen dig my earth
None of them along the line
Know what any of it is worth
The national average is $128,502 in 2017 dollars, $160k+ today. That's well over 3 times the median wage of $45k.
https://en.m.wikipedia.org/wiki/List_of_countries_by_GDP_(PPP)_per_person_employed
They do hold that data of course, where possible. I've heard it called personal P&L.
But tbh I reckon it would only be a new source of depression to know. :p
The full value of labor can be considered meaningfully only at the level of the whole enterprise.
You and your coworkers collectively contribute labor worth the value of the products you create collectively, minus the costs of inputs and operation.
How such value is distributed within the enterprise is simply a choice by those who control the enterprise. No objective solution is available. Owners pay each worker the minimum possible for the labor to be provided, which under current systems is different for each kind of labor, due to labor commodification over markets represented by the law of supply and demand,.
No one in the US is going to let a janitor earn more than a doctor. especially doctors. People tend to forget the sign in the ER, the staff is hired contractors...hired Contractors. some might consider that a mercenary.
doctors sold their souls to insurance companies to avoid being responsible for mistakes. and in turn got kickbacks and the same pay without altercation. Winn Dixie would call that a Winn Winn
That's actually rather easy if you work for a publicly traded corp, at least to ballpark it.
Company profits / total workers. (<-this seems facile, what am I missing?)
OTOH, beware comparisons of pay scales.
"CEOs make too much!"
Do the math. CEO pay is typically 1/100th of a penny earned, sometimes 1/1000th, not a drop in the bucket. Don't matter. When I was a kid, sports star pay was the thing to rage about. LOL, haven't seen a single lemming comment about that. Whatever.
"I don't make enough!"
And that's very likely true, but you cost far more than you think. Good rule of thumb? Double your pay, that's what you actually cost. You make $15/hr.? Company probably pays $30, or a bit more. Company has to pay worker's comp insurance, taxes, benefits, unemployment insurance, payroll processing fees, all that and more.
SOURCE: Worked IT for a payroll company, got the inside scoop.
If you have to underpay your workers to make enough profit, then your business model sucks, and your company should fail.
Economics 1B
Expected based on what? We're recruiting, we had to increase the advertised salary twice. This is public, everyone at the company notices these increases. If they don't come across to the existing people? It will be a riot and mass exodus. Something the company cannot afford to do. Replacing People costs an absolute fortune in time and money.
Replacing People costs an absolute fortune in time and money.
Something that corporate America seems to not care about for some reason these days.
Corporate America is operating on the Car Dealership model: there are enough rubes to fleece it’s not worth the effort to get quality customers/employees.
If they don’t come across to the existing people? It will be a riot and a mass exodus.
No shit. Maybe you should pay your staff market wages?
This is public, everyone at the company notices these increases. If they don’t come across to the existing people? It will be a riot and mass exodus.
That's a feature, not a bug.
Considering how easily people are dismissed for failing to blow the management, I call shenanigans.
It’s almost like it’s all kind of a scam and intrinsically fucked up. Attempting to hide that does not fix anything.
This was never about raising salaries.
Now that the data is public, the companies can implicitly collude to keep them low. No one will offer more than any other, which will drive them down.
They were already colluding. At least now workers can see it and form unions to fight back.
Except if one chooses not to play ball and pay a little more, it can have the best of the pool. So others compete, I think that's how this is supposed to work
They share it amongst themselves via third party consulting firms already. This just gives the public visibility.
We just gave "big data" more "big data". They surely won't use it against us!
then no one will work if they can choose to not.
That’s exactly what I would expect. The goal was largely to end the bait and switch.