SRZ Partner Martin Schmelkin Quoted in Hedge Fund Law Report: “The Impact of New York City’s New Wage Transparency Law on Private Fund Manager Hiring”

Schulte Roth & Zabel partner Martin Schmelkin recently spoke to Robin L. Barton from Hedge Fund Law Report to discuss the New York City wage transparency law that recently took effect. In the article, Marty touches on the goal of the law, the impact on private fund managers, the implications for private fund employees and more.

According to Marty, “[a]t its core, the law states that it is an unlawful discriminatory practice for an employer to advertise for a job, promotion or transfer without stating the minimum and maximum salary for that position in the advertisement. The employer is to base this range on 'what the employer in good faith believes at the time of the posting it would pay for the advertised job, promotion or transfer.' So, there’s a good faith standard here.”

Marty also explains that the law affects any employer with four or more employees in New York City and applies to any active job advertisements, regardless of whether they were posted prior to the law taking effect.

Read the article here.