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Just how much of a setback was the COVID-19 pandemic for U.S. working women?
Although women who lost or left their jobs at the height of the crisis have largely returned to the workforce, a recent finding points to the price many paid for stepping back: In 2023, the gender wage gap between men and women working full-time widened year over year for the first time in 20 years, according to an annual report from the U.S. Census Bureau. READ MORE
Salary transparency is increasingly becoming a common feature in job postings, especially as more states pass legislation requiring it. But despite continued growth in salary transparency overall, some sectors and states remain more opaque than others when it comes to disclosing pay information. READ MORE
What do human capital management, succession planning, employee engagement, diversity, equity, and inclusion, and leadership training and development all have in common? They are common new responsibilities and areas of oversight under the purview of today’s compensation committees, expanding their mandate beyond executive pay and benefits.
Since 2016, the percentage of S&P 500 company compensation committees with a title signaling a mandate broader than just compensation has risen from roughly one-third to just over 50 percent, according to Mercer’s research. READ MORE
After a recent slower period of activity in the initial public offering (IPO) markets, there has been speculation in accounting and finance markets that there might be an increase in activity over the course of the 2025 calendar year. Private companies considering a near- or mid-term IPO need to take a number of steps in their preparation for that undertaking, including review and development of an executive compensation program, which will help ensure that their IPO is successful and that their management team remains engaged prior to, in connection with, and after an IPO. READ MORE
When you’re being interviewed, the last thing you want is to get a “panic question.” These questions can leave you spinning, unsure of how to answer. An uncomfortable silence, followed by a lackluster answer, can follow the dreaded, “What’s your current salary?” While honesty is a good rule to follow, divulging this information can put you at a disadvantage.
To navigate this tricky scenario, we’ve gathered insights from experts across various fields, including recruiters, HR professionals, and hiring managers. Their strategies can help you shift from feeling on the spot to becoming your own powerful advocate. READ MORE
It's no secret that Big Law partners continue to take home bigger and bigger paychecks. But a new report this week details the extent to which compensation has "surged" in the Am Law 200 over the last few years—and the last decade.
Average pay for Am Law 200 partners, including equity and nonequity, has eclipsed $1.4 million, according to the latest partner compensation survey from Major, Lindsey & Africa. That's a 26% increase since the last survey two years ago, when the number was about $1.12 million, and nearly double the number ($716,000) from 2014. READ MORE
Boeing factory workers voted Wednesday to reject the company’s latest contract offer and to continue a six-week strike that has halted production of the aerospace giant’s bestselling jetliners. Local union leaders in Seattle said 64 percent of members of the International Association of Machinists and Aerospace Workers who cast ballots voted against accepting the proposal.
“After 10 years of sacrifices, we still have ground to make up, and we’re hopeful to do so by resuming negotiations promptly,” Jon Holden, the head of the IAM District 751 union, said in a statement Wednesday evening. “This is workplace democracy—and also clear evidence that there are consequences when a company mistreats its workers year after year.” READ MORE
On October 11, 2024, Institutional Shareholder Services (ISS) released a new FAQ regarding clawback policies as an update to its United States Executive Compensation Policies, which give insight into, among other things, ISS procedures for determining its say-on-pay (SOP) proposal recommendations. Note that companies without an SOP proxy proposal (e.g., emerging growth companies) should not be impacted by this new ISS guidance. READ MORE
Salary transparency is increasingly becoming a common feature in job postings, especially as more states pass legislation requiring it. But despite continued growth in salary transparency overall, some sectors and states remain more opaque than others when it comes to disclosing pay information. READ MORE
A new bill making its way through New York City Council would take away at least one major stress for pet owners in the city.
The just-introduced legislation would allow people to use their own paid sick time to take care of their pets when necessary. Supporters believe the bill would amend a current law and help improve improve mental health for city residents with pets. READ MORE
The focus on pay equity has grown in recent years, with more companies announcing programs to close the gender gap.
But achieving true gender parity—equal representation of men and women at all organizational levels—is still a long way off. At least 50 years, according to a sobering “Women in the Workplace 2024” report from McKinsey and LeanIn.org. READ MORE
Navigating the complexities of the Fair Labor Standards Act is critical for employers, especially when it comes to determining which employees qualify as exempt from overtime. While many are familiar with “white-collar” exemptions covering executive, administrative and professional roles, misclassifications remain a significant risk.
The recent Mayfield v. U.S. Department of Labor ruling from the 5th U.S. Circuit Court of Appeals reaffirmed that both the salary and duties tests are required when classifying employees as exempt, reminding employers that exemption status isn’t determined solely by job title or pay level. READ MORE
Remote work continues to be popular among workers. Nearly a quarter, 22% say remote work flexibility is the most important benefit, according to Monster’s 2024 Work Watch Report.
Some industries lend themselves to this type of arrangement. “A lot of remote jobs are tech jobs” for example, says John Mullinix, head of growth marketing at Ladders. But remote jobs can be found in a wide range of fields — including opportunities “that are upwards of $130,000,” says Toni Frana, career expert at FlexJobs. READ MORE
For decades, chief executive pay has climbed precipitously, buttressed by generous stock awards and six-figure bonuses. Since 1978, CEO compensation has spiked by 1,085%, a far cry from the 24% bump in pay that the average worker has seen.
In 2023, however, overall CEO compensation—which includes salary, bonuses, stock awards, and stock options—actually dropped by nearly 20%, according to a recent analysis by the Economic Policy Institute (EPI). That means CEOs were only paid 290 times as much as the average worker, a sharp decline from previous years. (Just a year before, in 2022, CEOs received 360 times the pay of the average worker.) READ MORE
Are you ever surprised that more companies don’t fail their say-on-pay votes? Say on pay was adopted by the SEC under a Dodd-Frank mandate signed into law against the backdrop of the 2008 financial crisis. The mandate was enacted largely in reaction to the public’s railing against the runaway levels of compensation paid to some corporate executives despite poor performance by their companies, especially when those firms were viewed as contributors to the crisis itself. READ MORE
Companies required to use “box 11” of Form W-2 in 2023 to report either payments of nonqualified deferred compensation (deferred compensation) or FICA taxation of unpaid deferred compensation may soon be challenged by employees angry about potential double taxation of deferred compensation. This double tax is created because the Form 1040 filing instructions for 2023 require deferred compensation payments reported in box 11 of Form W-2 to be reported on an employee’s Form 1040 as “wage” income subject to income tax and again as “additional income,” also subject to income tax.
This results in double taxation of deferred compensation payments, which the employee escapes only by ignoring the new Form 1040 filing instructions. READ MORE
Artificial intelligence (AI) is no longer the scary monster hiding around the corner for organizations.
A recent surveyOpen in a new tab from employment and labor law firm Littler, which included more than 330 U.S. C-suite executives, found 66% of the respondents are using generative or predictive AI in HR functions, including to create HR-related materials (42%), recruit (30%) and source candidates (24%). READ MORE
Just how much of a setback was the COVID-19 pandemic for U.S. working women?
Although women who lost or left their jobs at the height of the crisis have largely returned to the workforce, a recent finding points to the price many paid for stepping back: In 2023, the gender wage gap between men and women working full-time widened year-over-year for the first time in 20 years, according to an annual report from the U.S. Census Bureau. READ MORE
A big reason why leaders of publicly traded companies prioritize results that boost dividends for shareholders is that much of their own compensation is tied to continually rising stock prices. Yet despite Wall Street’s robust results over the past year, top U.S. CEOs pay decreased nearly 20 percent in 2023, a recent study reported. READ MORE
Even as top law firms have reached new revenue and profitability peaks this decade, not every partner is making more money from year to year.
These days, anywhere from 10% to 30% of partners within one firm may be moving down in compensation, according to law firm management consultants, and some firms are producing faster moves down, helping them pay their top performers. This is a departure from the more collegial days of partnerships, when it was unheard of to cut a partner's compensation, unless a firm sought their ouster, industry observers said. READ MORE