From WSJopinion: New state laws to promote pay “equity” produce job postings with ridiculous salary ranges
Other states, including New York and Colorado, are also enacting so-called pay transparency laws, on the theory that it ensures equity if every job applicant can start negotiating under the same expectations. But even if the law prohibited wide salary ranges, job advertisements usually say that actual offers may vary by “market location, job-related knowledge, skills, and experience.”
Compensation also depends on bargaining power. A valuable prospective employee might receive a counteroffer from his current company, or he might have second thoughts about moving his family across the country. The hilarious pay scale postings are another case of progressive designs failing when they run up against the real world. The equity laws end up delivering less accurate information for applicants without helping “equity.”
Highlights from a Fox Business interview with Jamie Dimon, in which the J.P. Morgan CEO discussed issues surrounding his WSJ op-ed, 'The West Needs America's Leadership.' Image: Zuma Press Composite: Mark KellyAppeared in the January 19, 2023, print edition.
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