Starting in November, a new NYC law will go into effect that requires companies with at least four employees to include the lowest and highest salaries for any job it posts. These incomes must accurately reflect what the company will be ready to pay prospective hires. Colorado made pay transparency mandatory earlier this year, and California and Washington are slated to follow suit in 2023. As past research—including one study in Denmark where this disclosure law is in effect—has shown, providing the salary for job openings critically helps narrow gender and racial income disparity. Additionally, the transparency will help job-seekers save time and equip them with the resources they need to negotiate for fairer pay. Learn more about the new mandate at The New York Times.
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