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On November 1, New York City's pay transparency law took effect, requiring the majority of city employers to provide "good faith" salary ranges for their open positions. The law echoes similar legislation in Colorado, Connecticut, Maryland, Nevada, Rhode Island and Washington and California, whose law goes into effect Jan. 1, 2023. However, with NYC being home to many of America's most prominent corporations, this law provides an interesting glimpse into how pay transparency will truly impact the hiring market, as similar legislation is likely to pass in other states and major municipalities in the coming years.
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