Get Why You Should Know How Much Your

David Burkus: Would Work Improve If You Knew What Your Colleagues Get Paid? How much money you make is a taboo subject. But business writer David Burkus says you should know how much your coworkers are paid. It can improve your job satisfaction--even reduce pay inequality.

Employers hate it when employees discuss salaries because it exposes discrimination and other unfair pay practices, she says. If your employer has a written policy or contract prohibiting salary discussions, you can report them to the National Labor Relations Board.

Keeping salaries secret leads to what economists call information asymmetry a situation where one party has much more information than the other. Just think how much better you could negotiate for a raise if you knew everybody's salary. Most employees have no idea how their pay compares to their peers.

Some employee handbooks explicitly forbid discussing salary at work. But know that if you create a similar policy, you can't enforce it. The National Labor Relations Act protects your employees' rights to discuss conditions of employment like pay, work hours, safety, and so on.

David Burkus: Would Work Improve If You Knew What Your Colleagues Get Paid? How much money you make is a taboo subject. But business writer David Burkus says you should know how much your coworkers are paid. It can improve your job satisfaction--even reduce pay inequality.

The bottom line is that you should talk about salary at work with discretion because it allows you to hold your company accountable for fair pay practices and ensure you're getting paid what you're worth.

Your right to discuss your salary information with your coworkers is protected by the federal government. According to The New York Times, the National Labor Relations Act states that employers can't ban the discussion of salary and working conditions among employees. ... Only your coworkers can tell you their salaries.

Your frustration is understandable, but do your best to stay calm and clear-headed. Mention your higher-earning coworker by name during your salary review. Focus on the value you bring to the company. Stay in a job if your employer refuses to pay you market value for your role.

Salary discussions can help you negotiate higher pay. The conversation about pay at a new job is more likely to be based on actual market rates for your role and experience level, rather than what other companies have paid you in the past.

Your right to discuss your salary information with your coworkers is protected by the federal government. According to The New York Times, the National Labor Relations Act states that employers can't ban the discussion of salary and working conditions among employees. ... Only your coworkers can tell you their salaries.

Keeping salaries secret leads to what economists call information asymmetry a situation where one party has much more information than the other. Just think how much better you could negotiate for a raise if you knew everybody's salary. Most employees have no idea how their pay compares to their peers.

It turns out that in addition to the assumed reasons, pay secrecy is actually a way to save a lot of money. ... And in hiring or promotion or annual raise discussions, an employer can use that secrecy to save a lot of money. Imagine how much better you could negotiate for a raise if you knew everybody's salary.