The Pay and Non-Pay Content of Job Ads

Richard Audoly, Manudeep Bhuller and Adam Reiremo

No 1124, Staff Reports from Federal Reserve Bank of New York

Abstract: How informative are job ads about the actual pay and amenities offered by employers? Using a comprehensive database of job ads posted by Norwegian employers, we develop a methodology to systematically classify the information on both pay and non-pay job attributes advertised in vacancy texts. We link this information to measures of employer attractiveness, which we derive from a job search model estimated on observed wages and worker mobility flows. About 55 percent of job ads provide information related to pay and nearly all ads feature information on non-pay attributes. We show that publicly advertised job attributes are meaningful predictors of employer attractiveness, and non-pay attributes are about as predictive as pay-related attributes. High-pay employers mention pay-related attributes more often, while high-amenity employers are more likely to advertise flexible working hours and contract duration.

Keywords: amenities; non-pecuniary job attributes; compensating differentials; worker mobility; information frictions; pay transparency; job ads; text analysis; vacancy duration (search for similar items in EconPapers)
JEL-codes: J23 J32 J33 J62 J63 (search for similar items in EconPapers)
Pages: 89
Date: 2024-09-01
New Economics Papers: this item is included in nep-hrm and nep-lab
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Working Paper: The Pay and Non-Pay Content of Job Ads (2024)
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Persistent link: https://EconPapers.repec.org/RePEc:fip:fednsr:98925

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DOI: 10.59576/sr.1124

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