Applying for a new job is always a venture into the unknown, but when it comes to the pay on offer, that uncertainty is lessening. Salary disclosure in US job ads appears to now be the norm. New data from job marketplace Indeed shows that as of August more than half of US job postings on the site included a salary range. Pay transparency laws have recently spread across the US, taking effect in Colorado in 2021, New York City in 2022, and California and Washington states this year. New York state enacted its own law yesterday. But the trend to more openness about pay may also reflect a growing awareness that pay transparency is good for business. Indeed surveyed US job seekers earlier this year and found that 75 percent of them would be more likely to apply for a job if it included salary data. Postings that included pay rates attracted 30 percent more applicants on the site. “With the tight labor market, pay transparency seems to be one of the new tactics employers can use to attract workers,” says Corey Stahle, an economist at Indeed who conducted the study. Read more...
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