A new law has come into force in New York: now you can find out how much employees of different companies in the city earn

New York's Pay Transparency Act went into effect Nov. 1, giving employees insight into the pay range for jobs across the city, including at top companies like Citigroup, JPMorgan Chase and Verizon. The edition told in more detail Fortune.

Under the law, which was originally due to go into effect in May but was shelved after complaints from companies, employers must publish salary ranges in good faith for job postings, including minimum and maximum wages. It is designed to close the gender and racial pay gap.

While this provides some clarity for job seekers, the situation is still tricky, says Domenick Camacho Moran, an employment lawyer based in New York. They need to consider how much current employees are earning, which will make them competitive in the current tough job market, and how much they will pay depending on the experience, skills, and other factors of the potential candidate.

This has resulted in some job openings on employer websites listing seemingly large salary ranges, angering job seekers.

For example, the director of communications at PricewaterhouseCoopers can earn from $147 to $000 per year in New York. In Colorado, which also has wage transparency laws, the same position in a company is listed for $466-$500 a year, reflecting the difference in cost of living.

“It doesn't surprise me that for some jobs the range can be very different,” says Camacho Moran. “You need to take into account experience, as well as guesswork about how much you will have to pay to attract talent.”

In addition, employers may offer salaries outside the specified range. It all comes down to what "good faith" means and the skills and experience of each applicant.

“There are no restrictions for the employer; if they publish it in good faith, they may pay more than what is listed,” says Camacho Moran.

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Either way, the ranges will provide job seekers and current employees with more information about their potential or current pay methods.

Amazon

According to Amazon's job site, a software engineer can earn anywhere from $115 to $000 a year, depending on where they live.

“Pay depends on a number of factors, including market position, and may vary based on job-related knowledge, skills, and experience,” the site says.

An application for a similar job in Aspen, Colorado has a salary in the range of $88 to $400.

American Express

A senior account manager at American Express can expect a base salary of $80 to $000 per year, plus bonuses and other perks.

“The above is the expected salary range for this position,” the job listing notes. “Ultimately, we will consider your location, experience and other job-related factors when determining your salary.”

Meanwhile, a Java engineer with more than four years of experience can expect to earn between $70 and $000 plus bonuses and perks.

Citigroup

A senior money management analyst at Citigroup can expect to earn anywhere from $72 to $550, while a head of investment at Citi Treasury and Trade Solutions can make anywhere from $108 to $830.

Deloitte

Management Consulting Company lists a salary range of $84 to $000 for a Compensation Strategy Consultant with at least two years of experience.

It notes that the range takes into account, among other factors, the applicant's skill set, experience, licenses and certifications, and other business and organizational skills.

JPMorgan Chase

A JPMorgan employee can expect a base salary of $135 to $000. Meanwhile, a private client consultant can earn a base salary of $200 to $000 per year.

PricewaterhouseCoopers

PwC makes job seekers in New York copy and paste an additional link from the company's job description to view the pay.

For a Senior Product & Technology Officer, the range is $64 to $000 plus an annual bonus.

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“Actual wages in this range will depend on the skills, experience, and qualifications of the individual,” the website says.

A Help Desk Manager can earn between $91 and $000 per year plus a bonus. In Colorado, which also has a salary transparency law, a business analyst can expect to earn between $207 and $000. Meanwhile, the same job in New York will pay between $74 and $000 per year.

Verizon

A Data Scientist with at least four years of relevant work experience in New York City can expect to earn between $114 and $000 per year, while a Project Manager can expect to earn between $211 and $000 per year. A data analytics manager can earn anywhere from $98 to $000 per year.

“Salary will vary depending on your location, skills and work experience,” the site says.

Not all companies have met the requirement yet

Some leading companies, including Google, Meta and IBM, did not include salary ranges in their New York job postings.

“IBM recognizes the value and importance of salary transparency and will include salary ranges for all new U.S. job postings starting November 1, 2022,” a company spokesperson said.