Salary Transparency Is Good for Everybody
Laws requiring companies to include salary ranges in job postings are good for women, young workers — and the companies themselves.
The more they know, they better they’ll get paid.
Photographer: Caitlin Ochs/BloombergStarting May 15, New York City will require every job posting to be accompanied by a minimum and maximum salary for the position. Colorado, Nevada, Connecticut, California, Washington and Maryland already have laws requiring some salary-range disclosure; Rhode Island will join them at the start of next year. Similar laws are under consideration in Massachusetts and South Carolina.
In most cases, the objective of the new rules is to narrow the gender wage gap: If companies are obliged to publish salaries, they will find it harder to underpay women. But more generally, young employees will benefit from knowing what they and their peers are paid.