20/20 Debates Whether Salaries Should Be Kept Secret
Suze Orman sees potential to remove the glass ceiling with open and transparent discussions about salary. If employers and employees have equal access to salary information, negotiations can be more effective and satisfying. She comments that we already practice ‘safe sex’, why can’t we practice ‘safe money?’
Check out her interview in the 20/20 segment regarding salary transparency: http://abcnews.go.com/Video/playerIndex?id=6668520.
Also check out the interview in the 20/20 segment with Penelope Trunk, co-founder of Brazen Careerist. Interestingly, Trunk talked about the open salary discussions that occur within her company.
We’d love your feedback on the segment and opinions about whether salary should be more or less transparent. Of course, we come down on the side of more transparency and it seems most employees share this sentiment. In our recent survey of employed adults:
- the majority (56%) of employees said they wish they had a better understanding of fair market compensation for their position; and
- more than one in three (38%) of employees say they’d like to see more transparency related to compensation at their employer and within the local job market than has previously been available.
Where do you stand?