Former Reagan economic adviser Art Laffer tells “Fox Business Tonight” about young job seekers seeking salaries of at least $74,000 for new jobs.
Some job postings that surfaced in it California push Extremely wide reward range for the Payment Transparency feature.
The Pay Transparency Act, formerly known as SB 1162, came into force at the beginning of the new year.it to the employer 15 or more “Please include the pay scale for the position in the job posting.” If such employers cooperate with third parties to “announce, post, publish, or otherwise make known the job posting,” they may also list salary range must be disclosed. according to the body of the bill.
of California Department of Labor Relations The rule states that it covers job advertisements “where the position may be filled in person or remotely in California”. It must mean “a range of reasonably expected salary or hourly rates” and need not include bonuses, tips, or other benefits. according to Department store.
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Tesla
On May 11, 2020, Tesla vehicles were sold to Tesla after CEO Elon Musk said he was defying local authorities’ coronavirus disease (COVID-19) restrictions by reopening a factory in Fremont, California. pass by the major car factories of (Reuters/Stephen Lam/Reuters Photo)
| ticker | safety | last | Change | change % |
|---|---|---|---|---|
| TSLA | Tesla Inc. | 122.40 | -1.16 | -0.94% |
so Jobs at Tesla For software engineers at Fremont, the electric vehicle manufacturer listed a range of “expected compensation” ranging from $104,000 to $384,000 in annual salary, cash and stock compensation, and benefits.another business analyst positions Tesla’s semi-segment coverage ranged from $68,000 to $234,000.
“Offered salaries may vary based on multiple individual factors, including market location, job-related knowledge, skills and experience,” the post said. “The total compensation package for this position may also include other elements depending on the position offered.”
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netflix
The Netflix logo is displayed at the ‘Paris Game Week’ in Paris, France on November 2, 2017. (Chessnot/Getty Images)
| ticker | safety | last | Change | change % |
|---|---|---|---|---|
| NFLX | Netflix, Inc. | 332.82 | +2.69 | +0.81% |
in netflix, Planning product manager According to the ad, Los Gatos’ “overall market range” is typically between $80,000 and $700,000.one software engineer jobs For the streaming giant, it ranged from $90,000 to $900,000. Post-production assistant position In Los Angeles, there was a market range of $55,000 to $305,000.
The publicly traded company states that the market coverage is “based on total compensation (vs. base salary only) in line with our compensation philosophy.”
netflix “Think about it[s] A wide range of compensation factors to determine your personal top of the market,” says the job ad, relying on market factors and taking into account specific jobs, skills, experience, and more. at your place,” according to the listing.
bloomberg previously reported Some of the broader salary ranges at the two companies, including those highlighted on the compensation analysis website Comprehensive.io.
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tick tock
Man’s hand in jeans holding mobile phone with isolated screen
For a full-stack software engineering position at ByteDance unit TikTok for the company’s creative and consumption products team in San Francisco, the base salary range was: Described as $126,000 to $304,704.
“so tick tockBase salary is just one part of the total compensation package we offer to evaluate the work of our employees,” a TikTok spokesperson told Fox Business. This can affect the base salary range and shows the maximum salary spread a candidate may receive depending on various factors. ”
FOX Business reached out to Tesla Comments from Netflix.
About 50.2% of the tech companies tracked by Comprehensive.io complied with California’s new Pay Transparency Act on Friday afternoon, according to the site.
New York City job listings must reveal salary ranges under new law
Other states
Close-up shot of two businessmen shaking hands in the office raining money concept (iStock/iStock)
Similar laws have been passed in New York City and New York State, with state regulations signed by Governor Kathy Hochul (DN.Y.) expected to come into force later this year.
The city’s bill went into effect in November. According to Bloomberg, some salary ranges that emerged shortly after the Big Apple’s laws went into effect also had wide disparities between the highest and lowest.
Washington and Colorado have also enacted their own laws requiring employers to disclose in job postings how much scope they have for the role.
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Ryan Payne, president of Payne Capital Management, has argued that the US economy will have a soft landing in 2023 after the market reacted positively to December’s jobs report.
