Salary transparency laws are like pumpkin-themed fall menus – so hot rn

New York’s salary transparency law went into effect on Sunday, making it the latest state to implement legislation requiring job postings to include the salary paid for the position.

And, much like Deion Sanders joining Colorado, these laws are already having an impact.

Half of US job postings in August advertised at least some employer-provided salary information, according to a new report by job board Indeed. That’s the highest share ever recorded by the firm, and nearly triple its February 2020 level of 18%.

Some more data:

• 70% of organizations that list pay ranges in job postings say doing so has led to more people applying, while 66% say disclosing pay has increased the quality of applicants they’re seeing, according to research from the Society for Human Resource Management.
• 36% of HR professionals also say transparency laws caused more current employees to ask about receiving a pay raise, per SHRM.

🖐️ Yes, but… Although pay ranges are increasingly being posted, they’re sometimes like The Rock – big enough to defy belief. A job post from Citi went viral for offering a range of $0 to $2 million (though the company later called it an error), while the posted salary for a Google software engineer in San Jose currently ranges from $157,000 to $235,000.

📸 Big picture: In addition to New York, California, Colorado, and Washington state also have pay disclosure laws in place.