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How pay transparency may affect your job search or raise

On The Money-NerdWallet-Pay Transparency
Posted at 11:15 AM, Jan 11, 2023
and last updated 2023-01-11 11:15:47-05

If you're looking for a job or aiming to get a raise this year, a new factor may come into play.

It's called pay transparency, a growing trend for companies to reveal what a job opening or current position pays.

While it typically reveals salary ranges — rather than the exact pay for specific jobs — employment experts say transparency may narrow gender and ethnicity wage gaps and level the playing field for job seekers and current workers.

Salary negotiation won't be eliminated, but pay transparency will encourage discussions of current and future pay expectations.