In November, New York City—that mecca of major banks and investment firms—began requiring employers to include salary ranges in job ads. But four months later, despite rapid growth in the percentage of job ads in the field disclosing pay, it still remains one of the least transparent occupational groups when it comes to posting salary ranges, according to a new analysis of job postings.
Just under 32% of banking and finance job postings include pay scales, according to the analysis by jobs site Indeed. That’s up significantly from just a year prior, when less than 12% of banking and finance job postings included pay ranges before New York City’s law and other state mandates went into effect. But it’s still among the least transparent occupational groups when it comes to pay ranges in job postings: Others with low transparency tend to also be higher wage job categories, such as scientific research and development and management (each 33%) and chemical and industrial engineering (each 31%), all of which also had substantially lower rates of disclosure just a year ago.
Indeed’s analysis underscores how effective such laws have been at helping close the information gap in high-wage and traditionally male-dominated professions, giving job...
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