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Transcript
00:00Have you ever spent a lot of time applying for a job only to find out that the pay is
00:03way lower than expected? Thanks to pay transparency laws now passed in 14 states and DC,
00:10companies are being forced to decide how much they're going to pay for a position before they
00:14know who's going to fill it. This could spare applicants from wasting time on postings that
00:18don't pay enough for their needs, or low-balling themselves in contract negotiations, which can
00:24stunt their earnings power over their entire career. Of course, if you happen to be really
00:28good in interviews, this may limit how much you can squeeze out of a negotiation. And if you're
00:32a superstar employee, companies might not want to pay you what you're worth out of fear of your
00:37coworkers expecting a similar amount. Still, the job posting website Indeed reports
00:43that listings that include a pay range attract 30% more applicants than those that don't.
00:48And knowing how much other people in your company make typically helps efforts at organizing,
00:53so pay transparency may be ultimately beneficial for employers and employees.
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