Are the days of being afraid to discuss our salaries with coworkers behind us? Maybe. In an attempt to increase company-employee transparency and shrink wage gaps, New York City announced late last month that companies with over four employees will be required to add salary ranges to their job postings–and disregarding it could cost a company upwards of $125,000 in fines and civil penalties.

“Including pay ranges in job postings allows job seekers to determine whether they will be able to support themselves and their family when they apply for a job,” Helen Rosenthal, the former City Council member who sponsored the bill, told CNN in part.

This new bill isn’t the first of its kind–the state of Colorado enacted the Equal Pay for Equal Work Act (EPEW) in 2021, also forcing employers to disclose targeted pay ranges in job postings.

While for much of the working class these laws are a step in the right direction to ensure equal pay among minorities, many businesses are opposing the decision and even going as far to exclude hiring employees in areas bound by these terms.

“This is one of those laws that was pushed through in the name of equity or economic justice, but in reality it won’t help either job candidates or employers,” Joe Borelli, the New York City lawmaker representing Staten Island was quoted saying in The New York Post.

According to information published on PewResearch, in 2020, women earned 84% of what men earned and those who fall into the ages of 25-34 earned 93 cents for every dollar a man in the same age group.

As long as there are no delays, New York City will be enforcing the law as soon as May 15, 2022.