Do you know how much money your co-workers are paid? Do you want to?

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For many years, discussion about money, particularly regarding how much someone makes, was considered a faux pas. We were raised to feel that talking about how much money you or others make could be considered braggy or rude, making people feel uncomfortable.

On the other hand, when employees are not open with each other about how much they’re being paid, it makes it hard to realize if you’re being underpaid for your work compared to others in your company.

In fact, this has been a tactic by many employers for some time - with some companies even encouraging their employees to keep their salaries to themselves so some wouldn’t demand a raise. This “pay secrecy” practice is a significant reason why pay gaps still exist for several minority groups, such as women, people of color, the LGBTQ+ community, and people with disabilities.

As of November 1st, companies in New York City have to abide by a new pay transparency law, and there’s a possibility the entire state could be next.

The new law requires New York City businesses with four or more employees to post the minimum and maximum salary for any advertised job position. This includes Internet boards and job posting sites (like Indeed or LinkedIn), fliers handed out at job fairs, and even classified ads. The law applies to both full and part-time positions, as well as independent contractors.

Also, if an employer offers a promotion or transfer within the company, that salary range must be disclosed to their employees.

An almost identical bill was passed in the New York State senate back in June of this year but has yet to be signed into law by the governor.

What does this mean for workers who live in New York State?

For starters, if you’re searching for a new job, you’ll know immediately what you will be paid. Second, for employed workers, you’ll see how the salary that’s posted compares to what you make now and know if you’re currently being underpaid for your position.

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