Who do you reveal your salary to?

[Fern]

I have often felt that it's a shame that revealing your salary is so verbotem and hush hush in our society.

Just think how much more leverage we would all have as employees, particularly when it came time for a raise, if we sat down with our boss' pre-armed with details about what our counterparts earn.

Keeping our salaries such a personal and private affair only benefits employers. Do you agree?

And getting back to my original question, to whom do you typically reveal your salary?

For me, i usually tell my significant other, my parents and sometimes a close friend.

[Ralph]

So far, barely even my spouse. I'm struggling with whether to make my budget public here - I was thinking of just doing percentages.

[Ima saver]

I will tell anyone that wants to know. I think finances should be talked about!

[Cassandra]

My parents know how much I make per month and my boyfriend knows how much I earn per hour. A couple of my friends also know my wage. I wouldn't mind sharing how much I make per month, but my friends have gotten on my case about items I've bought before (even though I saved up for them).

I guess it depends on the person for me.

Cassandra

[herm4]

Originally Posted by Ima saver

I will tell anyone that wants to know. I think finances should be talked about!

I agree! What's the point of keeping it secret?

[disneysteve]

Originally Posted by Fern

Keeping our salaries such a personal and private affair only benefits employers. Do you agree?

Yes and no. I agree with you and Ima that things would be better if we were all more open about our finances. I think there would be a lot less "keeping up with the Joneses" if we all knew how much the Joneses had, or how much they owed.

On the other hand, I see the downside too. Let's say you've been at your job for several years. You earn, perhaps, 50K. Your employer needs to hire another worker in your department to do essentially the same job as you. But market conditions have changed and the applicant pool is more competitive. Your employer now needs to offer 60K to attract someone to the position. How would you feel knowing that the new guy/gal is making 20% more than you for the same job with no experience? Sure, you could go to the boss and request a raise, but if the boss says no, where does that leave you?

So I think more openess would be a good thing, but not without some pitfalls.

[moneybags]

We tell our kids, ages 10 & 13.

I had a college professor that thought a business would run more efficiently if all salaries were posted. If you were paid based on performance, you would know where you stood, therefore you could be more productive in order to move up the ladder. Interesting theory.

Let's say you've been at your job for several years. You earn, perhaps, 50K. Your employer needs to hire another worker in your department to do essentially the same job as you. But market conditions have changed and the applicant pool is more competitive. Your employer now needs to offer 60K to attract someone to the position. How would you feel knowing that the new guy/gal is making 20% more than you for the same job with no experience? Sure, you could go to the boss and request a raise, but if the boss says no, where does that leave you?

This actually happened to me once. (I worked in accounting, so I knew all the salaries.) I was switching positions, so they hired a person to replace me, paid him more & gave him a more distinguished title for the same job I was doing. I complained and got a retroactive raise & title change. A lot of people job hop just to get raises.

[krayziebone33]

I usually don't have a problem sharing wage information with anyone. However, if I do that, I usually don't share with them how many hours I work. I also never really discuss where my money goes for some reason.

Talking about money has always been a bit taboo in my upbringing. It was not until late in my teenage years that my mother finally told me how much she made. She talks freely about that sort of thing now, but I have always held on to the habit of not discussing how much appears on my checks.

[Joan.of.the.Arch]

In my very first job, part time during high school, I found out that the young men who'd been hired the same day as me were being paid more -- $2.65 an hour more-- for the very same job. I learned this because one of the young men who regularly whined about the expectations of the work while finding ways to hide from it, specified how much his most recent increase had been, mentioning how much total that brought his wages to. Believe me, back in 1974 $2.65 an hour was a big difference.

I was angry. I knew that they had only hired me for the position in order to have "a girl" in the job that back then was unheard of to have anyone but males. (Not true anymore.) I knew that they wanted "a girl" for legalistic reasons because they had told me so when they hired me! They were responding to public and legal pressure to not discriminate! Uh, I was their token female whose presence would prove that they did not discriminate.

Well, when I found out about the wage difference, I went to the manager and asked for equal pay. He seemed to be pissed knowing that he was going to have to come up with the money, and retro-actively as well. The guy actually tried to justify to me that the "boys" needed more money because they had cars and dates to pay for! (Of course he would have no knowledge of the fact that I had the more crucial stuff to pay for ---like food from his own grocery store since I was helping to support my family. Anything extra like cars and going out with friends were not in the equation--- all the moreso if I were not going to be paid as much as everyone else.

So, do I think employees sharing info about pay gives them more power? Heck yeah. And even as a shy 17 year old young woman I ate my Powdermilk Biscuits, so to speak, and got up and did what needed to be done. Got my money.

I tell anyone who asks how much I earn, though the answer to that right now is $0.00.

On the other hand, I don't ask others how much they make.

[jodi]

I'll tell anyone who asks - but I rarely get asked. Anyone could find out how much I make based on my Civil Service title and years worked since I'm a state employee anyway, if they really wanted to know. That's probably why there's no office discussion where I work about salaries - there is no discretion in our pay. It's all set out in our contracts.

[MarianneJ]

Well, now that I am making more money than some in the office I am more tight lipped. I know it really makes no sense, but there is already a sort of stigma in most dental offices where hygienists are considered over paid by the people who work up front. I love my coworkers and do not want to fuel any problems so I really try to keep my mouth shut even when asked straight out.

It is an uncomfortable situation, and I wish it weren't so because my personality is to be extremely straight forward. I have no problem knowing what other people make or them knowing what I make. Unfortunately there are people who use that information to feel sorry for themselves instead of using it as motivation to earn more themselves if that is what they wish.

When you find out how much money someone makes you also have to make sure you are taking in the entire package and not just salary - you may be making less/hour but get many more benefits. That is another reason people think hygienists are overpaid - we usually make a pretty good hourly but have absolutely no benefits so must pay for our own health care, retirement, liability insurance, etc.

[Daylily]

Only my spouse - and he usually forgets!

[Russ G]

I've never had a problem with revealing my salary - people can generally make a guess how much you're earning from your job/car/home/lifestyle anyway (unless you're borrowing hugely or stashing away all your excess cash in savings!!)

[cschin4]

Nobody - I simply feel that some information can be held personal. I don't discuss my sex life, digestive problems or any other sort of things of a personal nature except in general terms. We already live in a world of TMI.
Here is my reasoning: If I tell my family or friends my salary it changes how they view you. If you are a lower wage earner, then they may wonder why you aren't earning more, don't change jobs, how you manage, etc.
If you are a high wage earner, then you will often hear "oh, you can afford it" when you don't want to buy something or other comments about "making the big bucks". So, I really don't see how it adds anything to one's personal relationships. Mum is the word.

[moneybags]

people can generally make a guess how much you're earning from your job/car/home/lifestyle anyway (unless you're borrowing hugely or stashing away all your excess cash in savings!!)

I have to disagree with the 1st part of this comment because the 2nd part is too often true. No one would guess what DH & I make because he drives a junky car, we don't buy a lot of excess, etc. We also preach to our kids that you can't tell what people make based on what they own. Too many people are over extended or spend whatever they have.

[disneysteve]

Originally Posted by Russ G

people can generally make a guess how much you're earning from your job/car/home/lifestyle anyway

I learned long ago that this is definitely not true. You can tell very little about someone's income by looking at their car, home and lifestyle. Some people go for flash over substance. Read "The Millionaire Next Door" and you'll see what I mean. Some folks will take a 7-year lease to drive a used BMW (see my other thread on that topic) while others with higher incomes are happy to buy and drive a 3 or 4 year old used domestic car for a fraction of the price.

I drive a 1998 Camry that I bought used. I live in the same modest 43-year-old house that we bought in 1994. We take frugal vacations, cook many meals at home, shop at thrift shops and yard sales, clip coupons, etc. But we also invest 18% of my gross income and 50% of my wife's gross income.

On the very same income, someone else might be driving a fancy car, living in a nicer home, taking more luxurious vacations and saving nothing for the future.

So looks can be very deceiving. And that isn't even considering any consumer debt that might be part of the picture. We have none. Not true of many others.

[MonkeyMama]

Originally Posted by moneybags

I have to disagree with the 1st part of this comment because the 2nd part is too often true. No one would guess what DH & I make because he drives a junky car, we don't buy a lot of excess, etc. We also preach to our kids that you can't tell what people make based on what they own. Too many people are over extended or spend whatever they have.

Agreed!!!!!

I would say this is not true in the least - that you can guess what people make. Believe me.

People have always assumed we make WAY more than we do.

Doing tax returns I find out a lot about people. I know that the neighbors down the street who live a very high lifestyle and give $20k/year to charity only make $40k/year and our TERRIBLE with their money. (I have no idea how they got the money they had, but not sure how long it will last).

Most of my friends who are broke I thought they made much less. They always told me they were jealous of my lifestyle. Then I help them with their tax returns - all my broke friends make six figures. You have GOT to be kidding me. We were living on $40k-$50k/year and they were jealous of us? They couldn't make ends meet on six figures?

A little money management goes a LONG way.

It still amazes me to this day. What I find out about people. I have a few clients who make really good money and can live the lifestyle they do. & a few who are "Millionaire NExt Door" variety. You would never know the 30-year-old had 1/2 million in retirement or our elderly client who had tens of millions of dollars... No one would ever guess that. One was just a ver diligent saver, the other inherited much late in life and didn't care.

[filifefc]

I share my salary information with all my friends and family. The only time I am sensitive about that topic is with co-workers, that's when it gets dangerous if salary information is shared.

[MonkeyMama]

I think it overall should be talked about more. I don't really see the harm.

On the flip side, since no one does, I tend not to. I share here but in real life just my spouse, sometimes my parents if it comes up. I think they don't even ask, we kind of skirt around it. But I do their taxes so I know how much they make too. I guess I have more inside info than most, likewise.

Young in my career we all revealed our wages at my job. We were always equal. (They knew we talked I am sure). They don't talk so much at my current job/small employer. But I have glimpsed some things from things said. I know I get paid very well, but that I am also a very productive employee.

Overall I have found my industry to be very fair. The newbies out of college make twice as much today, but we know. We get paid just enough to make a tad more. & yes I roll my eyes when they gripe about their lowly wages. LOL. 5 years ago they'd be living on HALF. Experience gets me a $5k premium. But I am making twice as much as I did out of school so who can complain. It's all kind of relative.

[pearlieq]

DH, who works in govt., has his salary published in the paper regularly. So, not much secrecy there.

As for mine, I generally don't reveal it to anyone but my husband, because I really don't care to invite comments or judgments about how I spend my money or live my life. I agree with the PP who said it just doesn't add anything to most relationships.