Level the Playing Field

In 2016, New York and Massachusetts enacted laws banning employers operating within their states from compelling job seekers to disclose their salary history. Since then, dozens of cities and states have enacted similar legislation. Now, corporations such as Amazon, Bank of America and Wells Fargo, to name a few, are following those laws to the letter across their organizations, regardless of jurisdiction, and forbidding their HR teams and outside recruiters from requesting compensation history.

Proponents of the legislation say that withholding information on past or current wages forces employers to judge the value of the job rather than the individual applicants. This makes sense, on one level. On the other hand, it undermines the ability to respond to market changes based on employment trends—a competitive hiring environment would cause companies to increase their offers, whereas overall compensation levels would decline in a deteriorating market.

One must, however, examine the genesis of these regulations, which were initially put forth as an attempt to cure the imbalance in pay between men and women in the workplace. This is, indeed, a real problem—the body of research on the topic indicates material differences in compensation between men and women across all levels.

I actually prefer another approach to addressing this issue. The US Court of Appeals recently determined that businesses may be held liable for discrepancies in their workers’ pay, even if the imbalance stems from previous employers. This would force companies to ensure that there is pay equity among their ranks. It also makes a lot more sense, as it would preserve the free market system while leveling the playing field.

Job Listings

SPONSORED JOB NAMDAR Asset Manager, Retail  (GREAT NECK, NY) Responsibilities include: overseeing all aspects of an asset; creating business plans of assets and overseeing all transactions and sales; and performing long-term analyses to project future profits.

COHEN ESREY  Director of Asset Management  (OVERLAND PARK, KS) Duties include: serving as primary point of contact between CEDG and CEC (Cohen-Esrey Communities) for property on-boarding activities including coordinating construction completion punch lists, initial marketing efforts, property decorating and furnishings, and lease-up reporting. 

CDT  Affordable Housing Real Estate Asset Management  (NEW YORK) Role includes monthly review and analysis of property operating statements, including analysis of balance sheet and income statement, comparison to budget and business plan, update annual projections each month, explain variances.

WESTMOUNT  Director, Asset Management-Commercial  (DALLAS) Director will be responsible for a portfolio of properties creating value, overall financial performance and returns at both the individual asset level and the portfolio level over the investment lifecycle.  

TA REALTY  Acquisition Associate  (NEWPORT BEACH, CA) Position will report directly to an Acquisitions Partner and will assist in evaluating, underwriting and transacting office, industrial, multifamily and retail investments in select West Coast markets.  

STARWOOD CAPITAL GROUP  Acquisitions Analyst  (GREENWICH, CT) Analyst will develop and maintain financial models and/or underwriting for use in evaluating potential investments; and conduct research and due diligence of prospective opportunities including their respective financial and organizational structures, review of legal documentation, analyze past and future performance, etc.

NORTHMARQ CAPITAL  Investment Analyst  (BALTIMORE) Duties include: providing support to regional offices through underwriting, loan request/investment report packaging, due diligence, closing, servicing and various support functions.

SITUS  Assistant Vice President, CMBS Conduit Loan Underwriting  (NEW YORK) Assistant Vice President (AVP) will support a leading originator and their team in screening, sizing, structuring, underwriting and documentation of potential CMBS Conduit CRE loan opportunities. In addition, position will complete full loan due diligence and assisting with the preparation of Asset Summary Reports required for securitization. 

CBRE  Capital Markets Associate  (LOS ANGELES) CBRE designed the Capital Markets Associate Program for professionals with 2-3 years of experience who are seeking to advance their career in commercial real estate. Associates will develop business and negotiates the selling and marketing of commercial real estate properties for clients.

VANCOUVER FRASER PORT AUTHORITY  Senior Property Administrator, Leasing/Property Management (VANCOUVER, BC) Administrator will negotiate short and long term lease and license agreements, terminal services agreements, amendments, surrenders, rent reviews, easements and other agreements for the utilization of port authority’s property.