Saturday, February 03, 2018
Companies trend toward not asking salary history of job applicants (Bank of America is the latest)
The Bank of America will stop asking job applicants for salary history in March 2018, according to multiple news reports, following an example set by Wells Fargo in October and by tech companie sin many states, typical story here.
The Bank said that avoiding salary history discussions will allow more parity by gender in pay. But it won’t necessarily address other issues, like seniority and promotions.
But employers have sometimes asked salary history to avoid hiring “overqualified” people during recessions. People also vary greatly, by temperament, in their interest in formal promotions, and that can distort attempts to show equality.
I took a pay cut at the end of 1981 when I moved to Chilton (in Dallas) and then again in 1988 when I moved back to DC to go to work for CCG which became Lewin. Then when I went to work for USLICO at the start of 1990 I took the same salary, but got much more generous salary progression in the twelve years that would follow (ReliaStar, ING).