It seems that the issue of salary still remains taboo for many people, and even sharing the figures with colleagues or friends is almost unacceptable. Experts encourage salary transparency as a means of empowering employees and ensuring fair wages.
According to a LinkedIn survey, only 16% of respondents said they share salary details with colleagues and friends. Most of them prefer to keep their salary private, even from trusted colleagues. This actually gives an insight into how the cultural norm of avoiding talking about money persists in most workplaces and in many countries around the world.
Why do many people keep their salary a secret?
There are still questions about what drives employees to this reluctance!
First, money remains a personal and private matter for many people. Even those who feel comfortable talking about salary with family may be reluctant to do so with colleagues and friends. Some just think it's nobody's business but theirs.
Competition in the workplace can undermine transparency about the level of pay equity. Many employees are said to want to use salary secrecy to their advantage in further negotiations for promotions and raises. There may also be perceptions such as sharing one's salary with others may affect one's career advancement.
In addition, discussions about money often provoke embarrassment. No one wants to be seen as bragging or complaining about his/her money. This makes it difficult to have honest conversations with colleagues and friends.
The benefits of being open about salary
However, there are plenty of good reasons to consider the opposite, namely the fact that you should talk openly with colleagues and friends about your salary. First, by sharing salary information, employees can detect and address potential discrimination against their salary.
Pay transparency allows people to make sure they are being paid fairly compared to their peers, and at the same time they gain a clearer sense of the standards and pay structures in the company they are employed.
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Source: Yahoo Finance
