I've previously commented [0] on how broken this implementation is. It's frustrating politicians don't see how easy it is to circumvent what the law seeks to achieve.
> Also, it only forces companies to list the base salary, but especially in tech, that's just a portion of one's total comp.
"Total compensation" is, to me, a way to inflate one's own value.
1. In companies with no market for stock options (privately owned, startups, companies that are just absolutely worthless), equity is hypothetical money which may never be worth anything. I worked for a company which gave me 250,000 options but the company lost 18mil a year and they ended up cancelling all stock options. Some people worked there for 15 years hoping the options would be worth something and eventually saw them cancelled outright. Unless I'm working for a publicly traded company, I don't put much value in stock options. With a startup, you're basically asking to be paid in poker chips.
2. Health insurance is something I expect to be there, regardless of the monetary value.
3. I've worked for plenty of companies that include a 10% performance-based bonus as part of the compensation only to never get that bonus (or get nowhere near 10%) regardless of my own performance because the company itself didn't profit last quarter, or they did profit and just chose not to pay out bonuses.
4. The perks that you get (free breakfast burritos, free barrista, gym membership) are tokens that can (and will) be taken away as soon as the federal reserve decides to jack up rates on your company lays off 25% of the workforce in order to pay their CEO his 300mil compensation package
"Total compensation" means "base salary plus hypothetical money in a perfect universe"
I hear what you're saying, but man, I really wish employers would be banned from offering healthcare benefits. They have zero business offering healthcare benefits.
This wouldn't even necessarily need to be broken down by individual employees, per position would work too, with statistics like number of employees covered, min, max, average and median.
They… do no such thing?
However for most people it should be representative and you should be able to get a good estimate of how much they're paid.
Some blue states (I would be shocked to see Republicans support this, despite the fact more information is very pro-market) institute this and maybe someday at the federal level as voters warm up to the idea.
If that's possible, you can at least in theory try to find a representative sample of current employees and get an idea of how much you could realistically get paid.
Because of the laws getting passed in other states, many postings already have ranges and they have looked reasonable to me.
https://jobs.netflix.com/jobs/294103648
"The overall market range for roles in this area of Netflix is typically $180,000 - $900,000."
https://dol.ny.gov/system/files/documents/2023/09/text-salar...
They specifically declare the terminology "good faith" and that posted ranges must be made in good faith and accurate to reality. Any individual that feels they are harmed by said range not being in good faith can file a department of labor complaint. The NYS DoL is actually quite aggressive once you give them ammo (complaints, tips, etc) to go after companies.
The median software engineer salary in the US is something like $110k. Still about twice the average individual income in the US[0], but the vast majority are going to be making 99% of their income in cash compensation including bonuses. I've worked for about a dozen companies based across the US in a variety of industries, and never have I or any of my coworkers had access to stock as part of compensation.
1. Software engineers have come to expect it
2. It provides a very cheap incentive for the engineer to remain at the company for the N number of years required to vest
And in the end, they may still end up being worthless
If your entire exposure to software development has been startup fantasy land where profitability doesn't matter yeah most of those companies are giving everyone stock down to the person at the front desk answering phones. That's the minority by every metric - number of companies, number of developers, total revenue, everything. I don't think anyone expects stock compensation unless they're artificially limiting their search to that type of company.
> Hire a TC negotiation consultant with access to comp data. They can get you 20-40% more.
What does TC mean here?