Most US companies are willing to list salaries in job descriptions

By Jeff Green, Bloomberg News (TNS)

According to data released Wednesday, the majority of companies may soon include salary information in U.S. job postings, even when it’s not required by law, as competition for new workers increases. the pressure to be transparent about salaries.

About 19% of companies surveyed by consultancy firm Willis Towers Watson Plc plan to give details of pay scales in job postings and 43% are considering it, according to the study. About 17% of companies already provide information on US sites that are not required by law to do so. WTW surveyed 388 executives in June and July, representing companies that employ 7.5 million workers.

“We expect the level of transparency to become the norm as external stakeholders demand more clarity and visibility into companies’ pay management practices,” said Lindsay Wiggins, co-head of fair compensation at WTW in North America, in a statement.

Pay transparency is seen as particularly important for women, who are often already paid less and would benefit from more information that could help them negotiate a higher salary. The pay gap for women has stalled for more than a decade at around 83% of what men earn, according to US Census figures. Salary disclosure is still not required in most states.

Last month, California joined Colorado, New York, New York State and Washington State in passing laws that will require companies to list salary ranges for jobs in those states. Only Colorado law is currently in effect; New York-based employers will need to start listing pay ranges starting Nov. 1. New York and California state laws are awaiting signature from those states’ governors before they can go into effect next year.

©2022 Bloomberg LP Visit Distributed by Tribune Content Agency LLC.