MJBizMag April 2021 - 41

States with Salary History Bans
Salary History Bans
No Laws Established
Source: Wolters Kluwer
© 2021 Marijuana Business Daily, a division of Anne Holland Ventures Inc. All rights reserved
More than half of states have passed salary history bans, which prohibit companies from asking job candidates about their wages at current or previous
jobs. The trend is intended to prohibit unequal compensation for job candidates, specifically women and minorities who often are paid less for the same
work. In Colorado, the new Equal Pay Act also requires employers to include salary information in job advertisements.
Executive Salaries
While the cannabis industry has
been drawing executive talent from
mainstream businesses for a few
years now, the trend is accelerating
as companies expand. When growing
businesses become more complex to
manage, they require a higher degree
of talent that is harder to find, which
pushes up salaries, compensation
experts explained.
" In terms of competitive pay, the CEO
or other executives at a top cannabis
company won't make as much as the
executives at top mainstream companies, "
Walter said. " But the specialists at a big
cannabis company will make comparable
pay-or more-compared to specialists
in other industries. "
According to a report from
CannabizTeam, marijuana is seeing " a
second wave of senior management ...
drawing from proven business leaders
from the CPG (consumer packaged
goods), biotech, food and beverage,
retail, financial services and pharma
industries. Demand for this new talent
has pushed average executive comp up as
much as 16% in 2020. "
Bernard said highly sought-after
candidates who can command high
compensation include people from
compliance backgrounds, retail veterans
April 2021 | mjbizdaily.com 41

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MJBizMag April 2021

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