Let's talk about your salary!

In my first role after university, I entered the professional world with no real experience and a deeply ingrained belief that discussing salary was somewhat taboo - a sentiment echoed, I believe, by many others. As a first-generation graduate navigating the bustling job market of London, I was ill-equipped for salary negotiations and accepted an entry-level position without understanding my worth. Fortunate to have an amazing manager, I quickly rose through the ranks. However after their departure and my subsequent promotion, my lack of negotiation skills (or at least lack of knowledge that I was even allowed to negotiate salaries) meant that I was underpaid relative to the market, despite the company’s significant growth and the responsibilities I had taken on.

When I finally gathered the courage to ask for a raise, reflecting our company’s growth and the mismanagement of funds designated for projects I oversaw, I was met with disappointment and accusations of greed from my new manager. This not only left me embarrassed but also undervalued. My situation worsened when I had to train a new hire - who was offered a higher salary than mine for similar responsibilities. This pay inequality was the wake-up call I needed to finally leave the company to find a place that valued me and offered fairer opportunities.

Spoiler alert, this wasn’t my only experience with pay inequality and actually not the only time I’ve been asked to keep my salary private from my colleagues. I never doubted the importance of keeping my salary a secret then, but now I can’t help but question the motivation behind this request.

My experience got me thinking about the secrecy surrounding salaries and how it only benefits the employer. Salary transparency shouldn’t just be a buzzword thrown around when it’s trending online. It should be a tool used for fairness and equity in the workplace. When companies are open about what they pay, they set a standard of fairness and are held accountable to that standard. This transparency helps in identifying and correcting discrepancies that can lead to inequality and resentment among employees. I mean, we’re still affected by the gender pay gap to this day!

We need to shift our perspective and treat discussions about salary not as a social faux pas but as a necessary, empowering practice for workforce equality. Especially during a cost-of-living crisis, it’s crucial that employees understand their market value and feel empowered to negotiate salaries that reflect their contribution, experience and skills.

By fostering an environment where salary discussions are normalised, employees can share information that will help them understand their worth and advocate for themselves effectively. This is particularly important for women and minorities, who historically are paid less than their counterparts.

Salary secrecy can significantly impact employee retention. When workers realise that they’ve been earning less than others in similar roles, their motivation and loyalty to the company can plummet. A transparent approach, conversely, not only mitigates these risks but can enhance employee engagement by fostering a sense of fairness and directness in the workplace culture.

Another point often overlooked is the role of salary transparency in facilitating better job matches. When potential employees understand the pay structure before entering a role, they can make more informed decisions about whether a position aligns with their professional and financial expectations. This clarity can lead to better job satisfaction and lower turnover rates, as employees enter roles with a clear understanding of the compensation and its potential growth.

In this digital age, where information is readily accessible, companies that continue to shroud their salary structures might find themselves at a disadvantage. Top talent is increasingly drawn to organisations that promote transparency and fairness, not just in their external branding but in their core operational practices.

My personal journey helped me to understand the importance of being proactive about salary discussions. It’s through transparency and open conversations that we can prevent unfair pay practices. If companies won’t lead the way in salary transparency, then we as employees/professionals must take the initiative to share and discuss openly, paving the way for a more equitable workplace.

I hope we can strip away the outdated notion that talking about money is vulgar. Instead, let’s view it as a necessary step toward empowerment and fairness. As professionals, it’s our right to be informed and our responsibility to inform others. In doing so, we not only protect our financial interests but also contribute to a broader movement towards equity and respect in the workplace.

Always here to remind you of your worth my friend,

Jessy x