Some job postings that have appeared amid California’s push for pay transparency have fairly broad compensation ranges..
The Payment Transparency Act, formerly known as SB 1162, went into effect at the beginning of the new year. It requires employers with 15 or more employees to “include the pay scale for the position in any job posting.” When such an employer works with a third party to “advertise, post, publish or otherwise make known a job posting,” they must also publish the salary range in the listings. according to the text of the legislation.
The California Department of Industrial Relations said the regulation covers job advertisements “if the position can ever be filled in California, either in-person or remotely.” A pay scale must “designate the range of wages or hourly wages that an employer would reasonably expect to pay” someone for the role and does not have to include bonuses, tips or other benefits. according to section.
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In Tesla job listings The electric car maker cited an “expected compensation” range of $104,000 to $384,000 in annual salary, cash and stock awards and benefits for a software engineer in Fremont. Is there someone else? business analyst position A compensation range of $68,000-$234,000 was allocated for Tesla’s semi-annual segment.
“Offered pay may vary based on many individual factors, including market location, job-related knowledge, skills and experience,” the release states. “The total compensation package for this position may also include other elements depending on the position offered.”
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It’s on Netflix for the position of Product Manager Plans In Los Gatos, the “general market range” is typically $80,000-$700,000, according to the ad. One software engineer job The streaming giant had a range of $90,000-$900,000, while post production assistant position In Los Angeles, the $55,000-$305,000 market range has hit.
The listing says market ranges are “based on total compensation (vs. just base salary), which is consistent with our compensation philosophy.”
Netflix “think carefully[s] a wide range of compensation factors to determine your personal market cap,” the job ad says, relying on market factors and taking into account things like the specific job, skills and experience. Such considerations “may cause your compensation to vary and will also depend. in your location”, according to the lists.
Bloomberg was reported earlier on some of the broad pay ranges at both companies, including one highlighted by compensation analytics site Comprehensive.io.
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The base salary range for a software engineer position at ByteDance division TikTok in the company’s creation and consumption product team in San Francisco was: listed as $126,000-$304,704.
“At TikTok, base pay is just one part of the overall compensation package we provide to recognize employees for their work,” a TikTok spokesperson told FOX Business. “We may consider candidates with different experience, skills or qualifications. This can affect the base salary range, which indicates the maximum possible salary spread that a candidate can earn depending on such various factors.”
FOX Business has reached out to Tesla and Netflix for comment.
Among tech companies tracked by Comprehensive.io, the compliance rate for California’s new pay transparency law was about 50.2% as of Friday afternoon, according to the site.
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Similar legislation has been passed in New York and New York state, and a state regulation signed by Gov. Cathy Hochul (DN.Y.) is expected to go into effect later this year.
The city bill went into effect in November. Some salary ranges that emerged shortly after the Big Apple Act took effect also have large differences between the highs and lows, according to Bloomberg.
Washington State and Colorado have also created their own laws requiring job postings to disclose what scope employers have for these roles.
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