Some retailers and brands have started disclosing salary ranges for New York City-based jobs, ahead of a Tuesday deadline that will require all NYC employers to disclose compensation details in job postings.
According to the new law, New York City employers and hiring managers will need to include salary ranges for all job postings and advertisements. Supporters of the law say it could help attract employees that desire a clear range of what to expect in terms of payment and could encourage people to ask for more than they might usually ask for.
As of Monday, multiple NYC-based retailers had included salary ranges on certain job listings, in advance of the new law going into effect.
For example, in a current job listing for a manager of communications role at Coach, Tapestry, the New York-based owner of Coach, Kate Spade, and Stuart Weitzman, outlined a salary range of between $76,000 and $95,000 annually. The company is also currently advertising for other roles with salary ranges on its website as well.
And Macy’s said it updated all of its job listings on its Macy’s and Bloomingdale’s websites last month in order to display pay ranges for every role across the U.S.
Capri Holdings, which owns Michael Kors, Jimmy Choo and Versace, is also showing salary ranges for its jobs based in its New York offices. A job listing posted on Monday for a senior buyer at Michael Kors in New York included a salary range of between $90,000 and $150,000 a year. New York-based job postings on the Nordstrom website also includes salary ranges for certain roles and stated that the ranges were “provided in compliance with state specific laws.”
However, not all NYC employers appear to have disclosed their salary ranges publicly yet. FN could not find any available salary ranges for jobs listed in Nike’s New York HQ or for jobs posted by the NYC-based Ralph Lauren and Foot Locker.
FN has reached out to Nike, Ralph Lauren and Foot Locker for a comment.
The new salary disclosure rule has already drawn opposition and criticism from some business groups in NYC. The Partnership for New York City, which has members such as JPMorgan Chase & Co. and International Business Machines Corp., previously told the Wall Street Journal that they were against the law. Ed Egee, the National Retail Federation’s VP of government relations and workforce development, also noted potential problems with enacting this type of regulation.
“Employers across all industries, including retailers, make salary offers to new hires based on a variety of factors,” Egee said in a February statement to FN. “These state and local mandates hinder both the employee’s flexibility and the employer’s ability to consider a wide [range] of candidates for a given position.”
Mark Goldstein, a labor and employment lawyer with Reed Smith LLP, told FN in February that the new regulation could also cause a backlash among employers, and encourage them to pursue remote workers living outside of New York City for their positions to avoid compliance with the rule.
“I could certainly see [the new law] having potentially a chilling effect on the hiring of individuals in New York City rather than achieving whatever its stated purpose might be, particularly with the labor shortage, the great resignation,” said Goldstein.