Why you should know how much your coworkers get paid | David Burkus - Deepstash

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Why you should know how much your coworkers get paid | David Burkus

Why you should know how much your coworkers get paid | David Burkus

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The Salary Sharing Taboo

Most of us are uncomfortable with the idea of broadcasting our salary. We're not supposed to discuss that with our office neighbors. The assumed reason is that if everybody knew what everybody got paid, then all hell would break loose.

There'd be arguments, there'd be figh...

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When people don't know how their pay compares to their peers, they're more likely to feel underpaid and maybe even discriminated against.

For companies, pay secrecy is actually a way to save a lot of money. Keeping salaries secret leads to what economists call "information asymmetr...

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  • Economists warn that information asymmetry can cause markets to go awry.
  • Information asymmetry makes it easier to ignore the discrimination that's already present in the market today (the gender wage gap between men and women).

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Letting people know what you make might feel uncomfortable, but isn't it less uncomfortable than always wondering if you're being discriminated against? Openness remains the best way to ensure fairness, and pay transparency does that.

That's why entrepreneurial leaders an...

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It's not one size fits all. Some post their salaries for all to see. Some only keep it inside the company. Some post the formula for calculating pay, and others post the pay levels and affix everybody to that level.

So you don't have to make signs for all of your employees to wear...

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