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Think about what this means in practice -- 2 things will happen. (assuming companies have to honor exactly the salary that is advertised) Companies will: 1)
by supernova87a 5y ago
Think about what this means in practice -- 2 things will happen. (assuming companies have to honor exactly the salary that is advertised)
Companies will:
1) Advertise lower salaries than you're able to otherwise negotiate (if you're a high performer) because they have to advertise this to everyone. People who could've earned more will lose some potential earning due to this measure, or they will not apply to suitable jobs for them that might have paid more on negotiation, and/or
2) Jobs will go unfilled for longer, and people who could've been hired for less will go unemployed or unhired for longer, because companies advertising a job with high salary will have to wait longer until the right person comes along for exactly that salary.
On the other hand, I could also see this becoming to the companies' advantage, as now they're able to openly collude and set standard (lower) wages for certain jobs, that no applicant will be able to negotiate above.
All to say, this is not the slam-dunk policy that you (or those policymakers) think. Lots of unintended consequences that I don't think that they even know yet.
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And I'm being downvoted for, what, stating reasonable opinions that don't make people feel good?
- option 5y agoLots of remote friendly companies will simply exclude NYC like many exclude Colorado for similar reason now.
- oblio 5y agoNew York City: 8,804,190 people, GDP of $884 billion. Colorado: 5,773,714 people, GDP of $318.6 billion. I mean, yeah, sure, they can do that, but it's dumb and their competitors will profit from that.
- wallawe 5y agoI think you're conflating the ability to profit from a region with the ability to hire from a region. You can still get your chunk of that GDP by selling services/goods there even if you don't have employees there.
- HWR_14 5y agoIf you sell goods and services in Colorado and you write "not open to people from Colorado" on your job posting instead of a range, you can get sued in Colorado. Colorado's law makes it clear that you have to post the range for jobs if you do business in Colorado and you can conceivably have the job done by someone in Colorado (aka all teleworking).
- smabie 5y agoAs always, the cobra effect will be in play and the market will find get its way. I don't actually think lawmakers are stupid enough to not realize this; it's just that they are not playing the "helping people" game: they are playing the reelection one.
- simplestats 5y agoThey just blame both the need for the regulation and the effects of the regulation on companies. The solution? More regulations!
- einstok 5y ago> Advertise lower salaries than you're able to otherwise negotiate So if you are overqualified and confident in yourself, apply and negotiate. > because companies advertising a job with high salary will have to wait longer I think you have this backwards > now they're able to openly collude That's not a very stable equilibrium. I think they would instead openly compete
- david38 5y agoThey already collude. There are services companies pay to give them salaries for positions across their industry. It's not even close to an even playing field. Companies have vastly more information than the average job applicant.
- sanderjd 5y agoI think you're being downvoted because your assumption is wrong. I'm pretty sure you can negotiate a higher total compensation than the advertised salary. Would love to know if that's wrong though!
- supernova87a 5y agoWhat would be the point of making companies post salaries if they're not required to adhere to the number posted?