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Ian Carleton Schaefer Joins CBS News to Discuss New York City's Pay Transparency Law

Ian Carleton Schaefer, chair of Loeb & Loeb’s New York Employment & Labor practice, joined CBS News in a news segment discussing New York City’s pay transparency law and how it will impact employers, employees and job seekers. The law which went into effect on November 1, 2022, requires employers to list a good faith salary or hourly range for every job, promotion or transfer that is advertised by employers.

In discussing what the law is trying to accomplish Ian told reporters, “The goal of course is to try to close or minimize any pay gaps that exist along gender, racial or ethnic lines and the vehicle for doing so is this law.” Due to the law’s significant impact, Ian suggests clients to “Get [their] house in order before the curtain gets pulled back.” Part of this preparation includes conducting equity studies to ensure that employees are being paid fairly and equitably before the information is shared more broadly as well as, preparing executives and other higher ups for conversations with employees regarding where they fall on the listed salary range.

Click here to watch the full news segment on CBS News.