Did you by any chance catch The New York Times Style section on Jan. 9, in which Jessica Bennett makes the case that sharing your salary — a once taboo subject — has become trendy lately, and in some cases downright liberating. Bennett writes that there are lots of good reasons to swap salary information with trusted friends and colleagues. For example, it helps get a sense of norms in your industry, provides ammunition so you can push for a raise, and helps to gain insight into whether the gender or race pay gap is dragging down your salary.
However, many professionals are still on the fence around whether to share how much they make with others. The good news is it’s illegal for employers to retaliate against employees who share salary information. However, by sharing your salary information you do run the risk of alienating those in your circle who might not feel so ready to open up about their financial lives. And then there’s just the overall bummer of learning that you make a lot less than your colleagues.
I’m curious what your thoughts are here. Are you asking — or being asked — about compensation more frequently? What side of the salary-sharing fence are you on? And what kinds of experiences have you had when you’ve talked salaries with friends? If you’d like to share your experiences with this issue, send me a note, and we may use your response in a future Inner Circle article.
Meanwhile … Women in Retail Leadership Circle’s seventh annual Leadership Summit is only about 90 days away (can you believe it?), and every day we’re getting closer and closer to selling out! The event, taking place April 27-April 29 at the Ritz-Carlton Key Biscayne, Miami, will host 450-plus leading women retail executives for two-and-a-half days of education, networking, and pampering! To register for the Summit, please click here!