Whether you are terminated, laid off, or resign voluntarily from your job, your employer must provide you with your final wages in a timely manner. If your employer does not pay your final wages in full and on time, you can seek penalties in addition to the actual wages owed. You may also be able to recover attorney’s fees, costs, and interest if you prevail on an action for unpaid wages. California’s Labor Code lays out an employer’s obligations with respect to the payment of final wages as well as the penalties for failing to comply.
Payment Upon Termination
When an employer terminates or lays off an employee, it must “immediately” pay the employee all earned and unpaid wages. (Labor Code § 201.) The employee must be paid “at the place of discharge.” (Labor Code § 208.)
Payment Upon Resignation
If an employee quits without notice, the employer must provide final wages within 72 hours of the resignation. However, if the employee gives notice 72 hours or more in advance of the actual resignation, then the employee must be paid . . .
01 Apr '15
A fascinating report released by the Federal Reserve Bank of New York in March 2015 examines gender differences in executive compensation. The report, titled “Gender and Dynamic Agency: Theory and Evidence on the Compensation of Top Executives,” used data from Standard & Poor’s ExecuComp database to look at the compensation of 40,704 executives (1,312 of whom were female).
The key findings of the report are:
- There is no link between firm performance and the gender of top executives. Thus, the gender pay gap at the executive level cannot be explained by performance differences.
- 93% of the gender pay gap among top executives is accounted for by the fact that female executives receive a far lower percentage of incentive pay — namely, stock options and stock grants — as a percentage of total compensation.
- Women’s compensation has “lower pay-performance sensitivity,” meaning that they gain far less from the positive performance of their firms. When a firm’s value increases by $1 million, it leads to a $17,150 increase in firm-specific wealth for male executives and a $1,670 increase for females.
- In contrast, women suffer more when a firm loses value: “A 1% increase in firm value generates a 13% rise in firm specific wealth for female executives, and a 44% rise for male executives, while a 1% decline in firm value generates a 63% decline in firm specific wealth for female executives and only a 33% decline for male executives.”
A critical point is that the authors showed that there was no link between . . .
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