American Express joins the small but growing number of companies that choose to publish salary ranges with US job postings, even when not required by law.
The credit card giant is including pay in job postings in New York ahead of a requirement that goes into effect Tuesday for all companies with four or more employees. Legislatures in California, Washington, and New York passed new rules that require a reasonable pay range to be included in help wanted ads in those states. A precedent-setting Colorado law went into effect last year.
“Although the law is only applicable within New York, we have extended the same level of transparency across the US to ensure a consistent experience for job seekers interested in finding their place on our team,” the company said in a statement. email.
Wage transparency is seen as particularly important for women, who are often paid less and could benefit from information that helps them negotiate higher wages. The women’s pay gap has been stagnant for more than a decade, with female workers making about 83 percent of what their male counterparts earn, according to U.S. Census data. Pay disclosure is still not required in most states.
A sample of New York City job postings shows a posting for an American Express marketing analyst with a salary range of $55,000 to $105,000 per year, along with a posting for a senior executive assistant at $38.45 to $57.70 per hour. American Express is one of the few major companies that discloses its unadjusted pay gap, a rough estimate of the difference in wages it pays employees based on gender and race. Globally, female employees made 106.7% of average male pay last year.
Citigroup Inc. already publishes salary ranges with job postings nationally, and Microsoft Corp. said he would do the same from next year. The majority of companies are at least considering it, according to a survey in June and July by consultant Willis Towers Watson Plc. Only 17% of companies surveyed at the time already disclosed pay in all publications where not required by law.
The practice is now common in advertisements for hourly workers, and salaried employees will now see more information about compensation, said Tauzef Rahman, a partner at consulting firm Mercer who has studied the evolution of pay transparency. When the California law takes effect next year, current employees will also be able to request the salary ranges for their existing jobs, even if they are not seconded, he said.
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