New York State Assembly and Senate Pass Wage Transparency Bill
On June 3rd, the New York State Assembly and New York State Senate passed a bill that will have major implications for workplace salary transparency.
The bill would require employers to disclose compensation or range of compensation to applicants and employees upon issuing an employment opportunity for internal or public viewing or upon employee request. The goal of the bill is to combat systemic pay inequality by making salary ranges for specific positions clear and easily accessible. The bill will head to Governor Kathy Hochul's desk to be either signed or vetoed.
A recent study by the Office of the New York State Comptroller highlighted pay inequality for women in the workplace. While New York is ahead of the wage gap curve compared to many other states, women still earned a median salary 85.5% of that of a male counterpart. In 2019, the most recent year with available data, men made a median salary of $60,813 while women made a median salary of $51,992 for a gap of $8,821.
Additionally, the study found that with high levels of education also came higher levels of pay inequality. Among New York residents with a high school degree, men made on average $13,439 more annually than women. Among residents with a graduate or professional degree, men made $24,877 more annually than women.
The study also highlighted pay inequality across racial divides. White men made a median salary of $70,000 in 2019 while White women made a median salary of $58,000. Both of these figures were significantly higher than Black men at $48,600, Black women at $45,700, Hispanic men at $43,500, and Hispanic women at $40,000.
While this bill would not specifically address the wage gaps along gender and racial lines, it's purpose is to remove secrecy in wages so applicants and employees have more transparency in fair pay for their position.