Although employment agreements are not required for most employment relationships in the U.S., many employers use them for some or all workers. In addition to expressing the material terms and conditions of the employment relationship (including salary and benefits), an employment contract should also describe the position's essential functions and its role within the overall organization, as well as lay out the legal rights and responsibilities for both the employer and the employee, during and after employment.
Congratulations! You have received an offer letter. Usually, this is a document that formally extends employment to a job applicant and outlines the main terms and conditions (including salary and other benefits). The offer letter also frequently gives a candidate a more in-depth description of the position's role within the organization and responsibilities. Although the offer letter may seem like it presents a take-it-or-leave-it proposition, most of the time there is some room for negotiation. Even if you think you have no ability to negotiate, it is still important to make sure you understand the terms you are agreeing to before signing the offer letter. Review the offer carefully and think outside of the box if there are issues you want to discuss.
Employers have the right to pay a man more than a woman for the same work if he had a higher salary at a previous job and There is a "reasonable policy" that justifies the company using past salaries to determine compensation. This was an opinion issued in April by the 9th Circuit in Rizo v. Yovino - a decision that threatens to severely undermine this country's progress on pay equity.
It is not news that college athletics are big business. March Madness holds the entire country's rapt attention each year, and the revenues it generates for the NCAA are significant. The broadcast rights are worth more than $1 billion annually as of 2016. And, while the NCAA has indicated that 90% of that money goes to the benefit of the athletes, that may not truly be the case. March Madness is over, but many question whether the NCAA promulgates another form of madness, its amateurism rules that forbid compensation of college athletes.
President-elect Trump rode a wave of American worker discontent all the way to the White House. A frequent refrain during his boisterous campaign rallies was that a Trump presidency would "make America great again" by bringing back well-paying jobs.
As noted by Vogue Magazine, August marked the 23rd anniversary of the federal Family and Medical Leave Act. Though considered landmark legislation at the time, the law only provides for unpaid leave, and does not apply to a large percentage of Americans employed by companies with fewer than 50 employees. Seeking to correct this situation, four states - California, New Jersey, Rhode Island New York - now have paid leave laws. Even in those states, however, There remain gaps, particularly when it comes to job protection.
After years of study and training to become highly educated health professionals, female doctors often find they don't earn the same as their male colleagues. Unfortunately, that's not a new revelation, but data spotlighting the pay disparity has been difficult to collect and routinely challenged as flawed by critics and defense lawyers. Until now.
Over recent weeks, several banks that we are aware of have handed to thousands of their FINRA-regulated employees onerous new clawback agreements with the condition that if they do not sign them they will not receive their 2012 bonuses. This only the beginning of the bad news. These new clawback agreements contain provisions that allow the bank to clawback part of an employee's earned and paid cash bonus merely because the employee resigns during the ensuing two or three years. Thus, for example, a bank can clawback part of the 2012 bonus (already paid and taxed in 2013) if the employee leaves during 2015.
Most employees in the financial services industry work all year long to earn an annual bonus, which often represents a major portion of their total compensation for the year. Unfortunately, employees not protected by a contract or an offer letter that specifically calls for a bonus payment if and when terminated (even if before year end), will likely be out of luck this season, even if they worked an entire fiscal year.