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New York City’s new law requiring job postings to have salary ranges went into effect earlier this month, and the response was stunning.
Stunningly awful in many cases. CitiGroup, for instance, posted a job with a salary range of $0 – $2,000,000. This is a ridiculous case of a company complying with the letter of the law and yet giving out precisely zero information.
Why is this happening?A fascinating exchange occurred on The Wall Street Journal’s podcast, “Your Money Briefing.” Podcast host J.R. Whalen asked WSJ reporter Theo Francis why companies were giving ridiculously broad salary ranges. Whalen gave the following reasons:
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