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Tesla's profitability and deliveries will be on top of investors' minds when the world's most valuable automaker reports results on Wednesday, days after sharp price cuts and announcement of a production pause at the Berlin factory.
Falling prices of battery materials are expected to let Tesla show a slight rise in profit margin from the previous quarter. READ MORE
Hannah Williams isn’t afraid to ask strangers how much money they make. In 2022, she quit her six-figure job to make a business out of it, Salary Transparent Street, which brought in $1 million last year.
Since launching her TikTok channel, Williams, 27, estimates she’s interviewed upwards of 1,000 people, from teachers to nurses to entrepreneurs and more, about their earning power and money habits. READ MORE
Businesses advertising job openings in Washington, D.C., will have to include a pay range and will be barred from asking job applicants their prior salary history, under legislation Mayor Muriel Bowser signed into law Friday.
The measure (B25-0194) largely mirrors the job posting pay transparency laws that have spread to California, Colorado, Hawaii, Illinois, New York, and Washington state. Similar bills came close to passing in the Maine and Massachusetts legislatures in 2023. READ MORE
On January 1st, 22 states and 38 cities and counties raised their minimum wages, sparking some celebration for 10 million workers who get a pay hike, and many doubts for the rest.
While this is perhaps a well-intentioned policy, intentions don’t indicate a policy’s effectiveness. Many economists argue that this decision will disadvantage the people it aims to help, namely, lower-skilled workers. READ MORE
While December's Consumer Price Index (CPI) data came in hotter than expected month-over-month and annually, experts are finding this inflation print to be an inspiration for more to come under President Biden's economic policies.
National Economic Council (NEC) Deputy Director Daniel Hornung sits down with Yahoo Finance's Rachelle Akuffo to discuss the progress in Biden's legislation to ease inflationary costs for American consumers. READ MORE
For many employers, the near year means new employees. If you are in the season of publishing applications and interviewing job applicants, you may want to reflect on pay equity developments that went into effect this year or will go into effect in the near future. READ MORE
Cha-ching! That’s the sound of 27 states implementing minimum wage increases in 2024 or in the near term via annual indexed increases or tiered jumps. As employers strive to remain both compliant and competitive, experts say, they need to conduct a comprehensive evaluation of their compensation strategy and ensure it is rooted in a strong pay philosophy. READ MORE
At a meeting in June 2009, the treasurer of the National Rifle Association worked out a plan to conceal luxury expenses involving its chief executive, Wayne LaPierre, according to audio of the meeting obtained by The Trace and ProPublica. The recording was unknown to New York’s attorney general, who is pursuing the NRA and LaPierre over a range of alleged financial misdeeds. It shows, in real time, the NRA’s treasurer enlisting the group’s longtime public relations firm to obfuscate the extravagant costs.
Captured on tape is talk of LaPierre’s desire to avoid public disclosure of his use of private jets as well as concern about persistent spending at the Beverly Hills Hotel by a PR executive and close LaPierre adviser. READ MORE
Frustrated that few politicians pay attention to closing the pay chasm between CEOs and the rest of us. the Congressional Progressive Caucus and an outspoken progressive think tank, the Institute for Policy Studies, teamed up to craft a plan to do just that.
While the CPC did not issue a separate statement on the plan, crafted by IPS’s Inequality.org co-editor Sarah Anderson late last year, it backed the effort, and it’s also in line with the group’s agenda. READ MORE
Maybe this was inevitable. After Cravath — a firm once known for its lockstep partner compensation — ditched the model in favor of increased flexibility for its “partners,” perhaps the collegial, true partnership of Biglaw was doomed.
In any event, another major law firm is reportedly changing up what it means to be partner there. Rumors are swirling that Clifford Chance is thinking about changing up its lockstep partner compensation model to better attract the top rainmakers who can demand mega paydays at firms unencumbered by the lockstep method. READ MORE
Glass Lewis (“GL”) recently released its annual Benchmark Policy Guidelines for 2024. This update makes several changes to how the proxy advisory firm will evaluate company policies related to executive compensation. Institutional Shareholder Services (“ISS”) also released updates to its voting policies for 2024, including new and updated responses to its Compensation Policies FAQ. READ MORE
Amid record salary hikes, the explosion of GLP-1 drugs and the end of pandemic emergencies, 2023 was a big year in total rewards. But don’t expect things to slow down in the benefits and compensation world in 2024, industry experts said.
“It will absolutely be a big year,” said Kim Buckey, vice president of client services at Optavise, a Carmel, Ind.-based benefits administration firm. She added that it will be best practice for organizations to follow a detailed strategy to address total rewards this year. READ MORE
Last year, the IRS announced several key tax code changes, including a boost to income tax brackets. For some folks, these changes could impact how much tax is withheld from their paycheck.
Both federal income tax brackets and the standard deduction have increased for 2024. This change is in response to sticky inflation, which has kept prices high all year. The higher amounts will apply to your 2024 taxes, which you'll file in 2025. READ MORE
Taxpayers generally know which federal income tax bracket they fall into, but depending on where they live, their individual income tax burden — the percentage of personal income paid in state and local taxes — can vary significantly.
In the ranking below, the state that imposes the most on residents has an individual income tax burden of 4.72%. Scroll through to find out the individual income tax burden in the worst 20 states. READ MORE
For many of us, there's nothing more nerve-wracking than a job interview, and the most uncomfortable part, far and away, is salary negotiation.
But according to one career expert, there's actually a very simple, kind of counterintuitive way to ace this part of a job interview. READ MORE
It may not be the year of the big pay bump, but modest raises are part of many companies' plans in 2024. A recent survey of about 1,800 employers by consulting firm Willis Towers Watson suggests an average salary increase of 4 percent, down from the 4.4 percent average raise in 2023, but better than the prepandemic era's average 3 percent hike.
The Wall Street Journal reported on the survey, which cited a slightly slowing job market and tapering inflation as factors moderating the average increase. There's a mix of trends at work, where white-collar, professional hiring is slowing, but other employers say they have to raise wages to hang on to workers. READ MORE
New Year, new you? If that means donning a new pair of running shoes, signing up with a personal trainer, or joining a flashy fitness centre, you may have encountered this advice along the way: if you want quality results, you’re going to have to pay for it.
The corporate world is no stranger to the ‘get what you pay for’ mantra, at least where it comes to executive pay, though – like with your new fitness regime if you fail to stick with it – there’s no guarantee of success. READ MORE
CEO compensation has become increasingly controversial, including cases where executives have received particularly high amounts of performance compensation, exotic or unusual features such as loans from the firm (which are now banned), post-retirement benefits, perks, and guaranteed post-employment consulting contracts. As with all employees, economic theory holds that CEO pay should never exceed the CEO’s marginal revenue product (MRP), the incremental value the CEO provides for the firm. MRP, however, is difficult to measure. Furthermore, because executives supervise others, it can be problematic to apportion marginal revenue generated by the worker being supervised from that generated by the executive doing the supervising. READ MORE
In this new paper, Feet to the Fire: How Should Companies Tie Executive Compensation to Climate Targets?, from the Rock Center for Corporate Governance at Stanford, the authors looked at how some companies bolstered their commitments to climate action—the authors refer to it as “institutionalizing” their climate goals and commitments—by including climate-related metrics in executive compensation plans and agreements. The authors observed that, increasingly, even in the absence of regulation, companies have made voluntary pledges to reduce their carbon emissions. Citing MSCI, the authors report that about “half of large, publicly traded companies have established carbon emissions targets, and a third have pledged to achieve net zero emissions by 2030 or 2050.” But is there anything to these promises? Have any of these carbon reduction objectives been fully integrated into the company’s strategy, operations or corporate culture? One way that some companies have sought to realize their climate goals is by tethering them to a measure of compensation. These climate metrics can function as both a signal of seriousness to the public and a mechanism for bringing accountability. In employing climate metrics as performance conditions in compensation programs, are there best practices to effectively achieve the kind of “institutionalization” that the authors advance? READ MORE
It’s the start of a new year, and I am mentally preparing myself for the influx of Hot Jobs of 2024 articles predicting the most sought-after roles. They will likely point to increasing demand for AI prompt engineers and drone managers. I wouldn’t be surprised if robot liaisons become the next trend.
Predictions aside, many job titles of tomorrow will remain the same as today’s—and this is not indicative of stagnation; it’s an acknowledgment that the most crucial organizational functions will remain essential even as technology evolves.
In that spirit, I’d like to submit my own candidate for job of the future: the total rewards professional. READ MORE