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I'm generally skeptical of regulations but in this case I think it's warranted because companies were basically "price fixing" by asking candidates about their
by amasad 9y ago
I'm generally skeptical of regulations but in this case I think it's warranted because companies were basically "price fixing" by asking candidates about their previous salary and then matching or nudging up a bit.
This piece of regulation will make the market more efficient, dynamic, and fair too. Companies already have information asymmetry working to their advantage. Asking about salary history only increased that. And that's why it's unfair.
- pkaye 9y agoI think thought this change will hurt those who are perform well but not good at negotiating a salary. Maybe they gained a high salary at their previous employer and it used to be a signal of their value. Should we also hide where they graduated from and the name of their previous employer too because a prestigious university or employer will definitely give an advantage.
- comicjk 9y agoFrom the article: "The bill would not prohibit an applicant from voluntarily and without prompting disclosing salary history information and would not prohibit an employer from considering or relying on that voluntarily disclosed salary history information in determining salary..."
- pkaye 9y agoOkay that is good to hear there is a way to negate this impact for those who it is beneficial.
- deleted 9y ago[deleted]
- groby_b 9y agoIf you're not good at negotiating a salary, you never had a high salary in the first place. There isn't a single company out there that pays you well out of the good of their heart.
- amasad 9y agoApply some game theory thinking here: companies will now have to lead with an honest offer -- an offer that correctly values the candidates skills and experience -- because that's their best option. They don't have an anchor and getting it wrong means the candidate walks away. If anything this will be more fair for those who can't or don't want to negotiate.
- rhizome 9y agoThe way I see it, it orients the salary to the position rather than the person.
- comicjk 9y agoThe previous salary question was also a penalty for being honest or not in-the-know. All the advice I ever heard about this question was to exaggerate. This creates an undesirable equilibrium where savvy people wink at each other while newcomers miss out.
- deleted 9y ago[deleted]