The salary of Apple, Google, and Meta is clearly a new law, and there are voices that ``there is a loophole'' and ``it does not reflect the actual compensation''
Many people are interested in 'How much salary do other companies in the same industry pay to their employees?' Newly, in California, USA, based on the state law '
Here's how much top tech jobs in California pay, according to job ads
https://www.cnbc.com/2023/01/05/heres-how-much-top-tech-jobs-in-california-pay-according-to-job-ads.html
California pay transparency law raises questions for video game industry - The Washington Post
https://www.washingtonpost.com/video-games/2023/01/05/california-pay-law-video-game-studios/
Game companies post absurdly broad salary ranges to 'comply' with new pay transparency laws | PC Gamer
https://www.pcgamer.com/game-companies-post-absurdly-broad-salary-ranges-to-comply-with-new-transparency-laws/
In September 2022, California passed state law SB1162, which requires all companies with 15 or more employees to disclose salaries in job postings, and took effect January 1, 2023. Under the influence of SB1162, recruitment information issued by large companies such as Apple, Google, and Meta reveals salaries to be paid to specific positions as follows.
・Apple pays annual base salaries of $121,000 to $230,000 (approximately ¥16.2 million to ¥30.8 million) to employees who act as program managers at the AR Group.
・Google pays annual base salaries of $126,000 to $190,000 (approximately ¥16.8 million to ¥25.4 million) to software engineers hired mid-career at Google Health in the healthcare sector.
・We will pay a base salary of $253,000 to $327,000 (approximately ¥33.8 million to ¥43.7 million) annually to the software engineering director of the main team that builds Meta's network infrastructure.
Even before California introduced it, disclosure of salary information in job postings is obligatory in states such as Colorado and New York City. However, the mandatory disclosure of salary information in California, where 20% of the Fortune 500 companies are based, has the potential to be a tipping point for generalized disclosure of salary information throughout the United States. .
State laws requiring disclosure of salary information in job postings aim to reduce wage disparities based on gender and race and increase the competitiveness of minorities and women in the labor market. California Senator Monique Limon, who helped pass the law, said, ``There are many factors that must be met in order for men and women to get the same pay for the same amount of work and experience. It's transparency,' he said.
Paying equal wages to minorities and women will eventually lead to revitalizing the California economy. “The consequences are not just personal,” Limon said. “Low wages also have economic implications for states. 'They limit their contribution to California's economy through housing and investment.' Limon also argued that California companies' disclosure of salary information could give them an edge in the competition for talent with companies in other states that do not disclose salaries.
In addition to disclosing salary information in job postings, SB1162 also requires companies with 100 or more employees to submit detailed salary data reports to the state, disaggregated by race, gender, and occupation. The California Labor Commission can investigate these reports and fine companies for violations. The payroll data report will not be disclosed to the public.
Although the new state law has clarified some of the salaries paid by large companies, the disclosed salary information is only for newly hired workers, so It may not accurately reflect how much employees actually get paid.
It has also been criticized that 'these salary information does not include compensation such as benefits, stock options, and bonuses that many technology companies have introduced.' For example, in the technology industry, highly paid workers get most of their compensation in the form of stock, and in the financial industry, bonuses account for a large proportion of income.
“Especially tech workers want to know what the final total compensation will be. It may exceed 50% of the actual total compensation.'
In addition, since the range of salaries disclosed is too wide, there are also voices that ``maybe the salary information is intentionally vague''. For example, Netflix's game studio pays senior game producers $50,000 to $600,000 a year (about 6.7 million yen to about 80.2 million yen), and game engineering directors $330,000 to $1.8 million a year (about 44.1 million dollars). 10,000 yen to about 240.6 million yen). This wage range is not necessarily intended to prevent salary disclosure, and the same job listing includes multiple potential roles, and in fact, it is possible that wages may differ greatly depending on the role and number of years even for the same position. .
Pawanpreet Dhaliwal, an attorney at employment law firm Outten & Golden LLP, said, 'Workers who encounter overly broad and unrealistic pay scales in job listings are encouraged to file complaints to California Labor. We should consider bringing it to the attention of the Commission, which may clarify employers' obligations under the law.'
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