Posts tagged with 'compensation'
Employers Are Paying Premiums for These IT SkillsRead the rest of this entry »
Earning an IT certification is always worth the effort. They add luster to a resume and improve job prospects with employers who pay a premium to those with the right credentials.
Foote Partners tracks IT pay and the premiums paid for 1101 tech skills. In its recently issued report, the firm found that when premiums are paid, they average 9.6% of base pay.
Many of those premiums go to those …
Wall Street Bonuses Are Shrinking This YearRead the rest of this entry »
About those year-end bonuses Wall Street bankers and traders were expecting just a few months ago: If they happen at all they’re going to be smaller than last year.
The compensation consulting firm Johnson Associates Inc. says the prolonged business shutdown, which has kept millions unemployed, is weighing on banks, which have upped their cash reserves anticipating the possibility of widespread credit defaults.
They’ve also taken a hit to lending …
IT Workers Saw Big Pay Bumps Last YearRead the rest of this entry »
Seven in ten IT professionals got raises last year, pushing the average base for non-managers to $83,500 and to $146,000 for those in senior positions.
The average percentage increase for non-managers, according to the 2020 IDG Insider Pro and Computerworld IT Salary Survey was 4.7%. Managers at all levels average between 4.2% and 4.3%.
Tech professionals with certain specialized skills saw increases in the double-digits. The report said security professionals …
Banks Struggle to Contain Expenses In Face of Wage GrowthRead the rest of this entry »
Squeezed by low interest, constrained by competition from raising prices and facing shareholder pressure to improve returns, the banking industry is struggling to control costs while labor shortages and public sentiment is pushing for higher wages.
American Banker says the $56.7 billion banks spent on salary and benefits in Q3 last year was 18.4% higher than in 2014.
Those expenses are expected to rise even more this year, as industry …
Labor Department Schedules Webinars to Explain New Overtime RulesRead the rest of this entry »
Beginning New Year's Day, employers will have to start paying overtime to an estimated 1.3 million more workers.
Under rules announced last month by the Department of Labor, employees earning less than $684 a week will be entitled to time-and-a-half after 40 hours in a workweek. Some workers who are paid above the threshold may also be eligible for overtime pay, depending on their specific duties.
Applying the salary …
1 Million More Workers Will Soon Be Entitled to OTRead the rest of this entry »
Now that the Department of Labor has finalized its new rules on overtime, employers have only until January 1, 2020 to decide how to comply.
Tuesday's long anticipated action by the DOL raises the minimum salary threshold for overtime pay from $455 to $684 a week. Employees earning less than the minimum, which works out to $35,568 per year, must be paid time and half for time worked in …
Unfilled Jobs Helping to Push Wages UpRead the rest of this entry »
Friday's employment data from the Bureau of Labor Statistics showed employers created 130,000 new jobs last month, the lowest number since May. The private sector's share was 96,000; the balance reflected government hiring.
There's little doubt the numbers reflect a substantial slowdown from a year ago. Since January, all new job hiring has averaged 158,000 a month. Last year the average was 234,000. Whether that's due to the cooling global …
Starting Pay For Grads Little Changed Since 2015Read the rest of this entry »
Last year's college graduates earned an average starting salary of $50,944.
That's a healthy bump above the average personal income for all workers, which was $46,550 when last measured in 2016. However, the National Association of Colleges and Employers says starting pay for college grads has barely budged over the last three years,. The 1.4% increase from 2015 to 2018 is a "further illustration of the sluggish growth in overall …
What Do You Need to Earn to Rent?Read the rest of this entry »
To afford a two-bedroom rental in New York City's fashionable Chelsea neighborhood you'd need to earn at least $49 an hour. Drive north 80 miles to Poughkeepsie, and you can get two-bedrooms for little more than half that.
The National Low Income Housing Coalition has compiled HUD data from across the U.S. on the fair market rent for one and two-bedroom rentals by state and right down to individual zip …
Employers Scrambling to Comply With New Jersey Pay LawRead the rest of this entry »
In the year since New Jersey passed one of the toughest -- if not the toughest -- equal pay laws in the nation, employers have scrambled to comply.
The New Jersey Law Journal calls the Diane B. Allen Equal Pay Act, "Unprecedented in breadth and scope in pay disparity claims." It makes it unlawful to pay members of a protected class (as defined by New Jersey, which is substantially …