Compensation Update: Pay Transparency

What's new in the law as it relates to compensation? Well, pay transparency continues to be a hot topic. In fact, over the next year, at least four states' will have their pay transparency laws go into effect. Here is a brief overview of those states:

State	Effective Date	Brief Overview*
Illinois	January 1, 2025	Employers with at least 15 employees must provide information on salary range and total compensation.
Massachusetts	July 31, 2025	Employers with at least 25 employees must provide salary range information. Employers with 100+ employees must submit pay data.
Minnesota	January 1, 2025	Employers with at least 30 employees must provide the salary range and a general description of all of the benefits and other compensation.
Vermont	July 1, 2025	Employers with at least 5 employees must provide the salary range for jobs physically in Vermont and remote roles that report to a Vermont location.

These four states join a growing list of jurisdictions that require employers to share salary ranges and other information with potential and current employees. Failure to comply with these pieces of legislation can have costly implications for an organization's bottom line and their public brands.

As the list undoubtedly continues to grow, you'll want to make sure that your organization has a strategy that ensures compliance in each jurisdiction and that shows potential employees a favorable brand. Having developed pay transparency strategies for multiple entities, I am confident that I can help your organization do the same. So if you have questions about any US or global pay transparency laws and/or you'd like assistance with developing your company's pay transparency strategy, let's chat.

*Please keep in mind that these are brief overviews and do not provide the full legal analysis necessary to properly craft pay transparency policies or strategies. Reach out if you would like additional information.