4 reasons to be open about your salary at work

There is a growing number of Aussies who would prefer transparency around their salary (Source: Getty)

There are a growing number of Aussies who want more transparency around what they and their co-workers are being paid.

A recent LinkedIn survey found that the majority of respondents (52 per cent) thought we should be open and honest with our colleagues.

While many people cringe at the idea of sharing how much they make, on the contrary it could foster a better working environment.

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Here are four reasons why we should be open about how much we earn.

1. Make sure your pay is equal

Unfortunately, you need to know what your colleagues are being paid to ensure you're getting what you’re worth.

Recruiter.com said after you’ve been in a job for a while it can be difficult to know whether your salary has increased at a reasonable rate.

“Most people research their market value when interviewing for a new job, but if you’ve been in your role for some time, you may not be privy to current market information. Pay transparency can help ensure that, if your market value goes up, so does your compensation.”

2. Not everyone is good at negotiating

Why should you get paid less simply because you’re not as good at the negotiating table than someone else?

“Yes, in an ideal world, you’d be paid fairly for what you bring to the table without having to jump through hoops,” recruiter.com said.

“However, if you happen to identify a disparity between your salary and what you should be earning, you can use it as an opportunity to improve your negotiation skills.”

3. You’re always stronger as a group

Advocating for a higher salary as a group can be an effective strategy.

For example, say your entire team has performed well that year. Even though you’re all at different levels you can all put it to the boss that you all deserve a 5 per cent raise and list your accomplishments as a team.

That makes for a far less daunting experience than a one on one.

4. Stopping gender inequality

You should get paid the amount you deserve based on your performance, but we all know that isn't always the case.

And, it goes both ways. As part of a study of salaries of their employees, Google found it was paying men less than women working in similar roles in 2018. The results were a surprise to management.

Being open about salary would negate inequalities in the workplace.

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