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Staff Reports

The Pay and Non-Pay Content of Job Ads

Number 1124
September 2024

JEL classification: J23, J32, J33, J62, J63

Authors: Richard Audoly, Manudeep Bhuller, and Tore Adam Reiremo

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.

Full Article

Author Disclosure Statement(s)

Richard Audoly
This project has received funding from the European Union’s Horizon Europe Research and Innovation Programme under Grant Agreement No. 101043127 and the Norwegian Research Council under Grant Agreement No. 275123. I declare that I have no other relevant material or financial interests that relate to the research described in this paper. Prior to circulation, this paper was reviewed in accordance with the Federal Reserve Bank of New York review policy, available at https://www.newyorkfed.org/research/staff_reports/index.html

Manudeep Bhuller
This project has received funding from the European Union’s Horizon Europe Research and Innovation Programme under Grant Agreement No. 101043127 and the Norwegian Research Council under Grant Agreement No. 275123. I declare that I have no other relevant material or financial interests that relate to the research described in this paper.

Tore Adam Reiremo
This project has received funding from the European Union’s Horizon Europe Research and Innovation Programme under Grant Agreement No. 101043127 and the Norwegian Research Council under Grant Agreement No. 275123. I declare that I have no other relevant material or financial interests that relate to the research described in this paper.

Suggested Citation:
Audoly, Richard, Manudeep Bhuller, and Tore Adam Reiremo. 2024. “The Pay and Non-Pay Content of Job Ads.” Federal Reserve Bank of New York Staff Reports, no. 1124, September. https://doi.org/10.59576/sr.1124

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