New York City Salary Transparency. Does Your Pay Stack Up? Are You Being Paid Fairly? Is it Time to Request Additional Compensation or Look for New Employment?
As of November 1, 2022, all New York City employers, with four or more employees or one or more domestic workers, must include the salary range for any new jobs, promotions or transfer opportunities in any job advertisement. In the listing, the employer must include a “good faith” salary range with a minimum and maximum amount. The amount must be something the employer is willing to pay at the time of the advertisement. The job postings do not have to include benefits (i.e. health insurance, PTO, life insurance, 401K matching or contributions, severance) or any perks they may offer, but may be included if the employer chooses.
To view the salary requirement in job advertisement fact sheet, click here. The fact sheet provides information on what constitutes an “advertisement”, covered listings, covered employers, how salary protections are enforced, among others.
This new pay transparency law allows employees to review postings to determine if they are being paid in line with what is being offered. It also affords employees the opportunity to question the salary they are receiving based on their qualifications and experience and to determine if the compensation elsewhere might be better.
For employees who are unsure if they want to remain in their role, or believe they are not being fairly compensated, or are otherwise disgruntled, the new law may provide answers to many unanswered questions, such as is my colleague being paid more than I am. It may also be the impetus for change.
The new postings may also be a time for reflection. Employees may look to determine what job values are important to them, whether it be salary or flexibility or otherwise.
If you believe you are not being properly compensated or are looking to make a transition (voluntarily or involuntarily) or want counseling at your current job, contact Sheree Donath, Esq. by clicking here or at email@example.com to determine your options and rights.