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How is this different than an employer providing a payscale range for the position (as mandated for job postings by some jurisdictions)?
by vivegi 4y ago
How is this different than an employer providing a payscale range for the position (as mandated for job postings by some jurisdictions)?
- b20000 4y agoin a market you have buyers and sellers. you describe only the buy side with the sell side missing. right now there are only public bids and no asks.
- vivegi 4y agoWouldn't a job applicant be on the "sell" side. Even in a large liquid market like equities only a small fraction of buyers and sellers are "interested" in a specific transaction at a given time. Doesnt the applicant pool for a specific job approximate that already? At the end of the hiring process there is a bid-ask spread and the parties do agree to a final "price". Also, hiring isnt one dimensional for most jobs.
- janalsncm 4y agoYes, the applicant is “selling” their time. Companies are buying it. The current information gap is that we don’t know what the sell side looks like at all really, and the buy side is incomplete. You’re right that the other glaring issue is that most jobs aren’t fungible like commodities or shares in a company. I don’t think it would be a useful product but it would be interesting if we even had an approximation.