Qvisory - Tools for Life Blog - Share and Share Alike

RSS

Share and Share Alike

Erika Mitchell

Posted May. 02, 2008
Tagged: Work, Money, YoungAdults

Have you ever heard your mother or father talk about how much they make? How about your grandparents? If you’re like most people, you’ve probably never heard your parents talk about money, unless it was to ask you to stop increasing the phone bill every month when you were a teenager.

Money has traditionally been a verboten topic among friends and colleagues, rarely discussed publicly nor even privately among families. But cultural norms and traditions are constantly evolving, and Gen Y does not have as secretive an attitude about money.

An article in the New York Times reveals a glimpse of this shift. Gen Y workers are disclosing their salaries to friends and colleagues as a way of measuring the current job market. The idea is that, by determining what your friends and colleagues are making, you’ll know better whether you can ask for a raise, switch to another company for more money, or change professions entirely.

The article highlights several instances where sharing salaries has worked out to the benefit of those involved. In addition to being able to use the information to help you in your career, you can also derive a lot of comfort from knowing what others make. If sharing salaries with friends will help you improve your lot at work, then take advantage of the opportunity if your colleagues are willing. You may have to take the risk of revealing your salary first, and see whether they respond in kind.

The article also pointed out, however, that the outcome is not always positive. Karen Burns, on her blog Working Girl, made an excellent point that, should you decide to disclose your salary to friends and coworkers, bear in mind that jealousy happens. Tensions can arise from discussing money, especially at work, and it’s important to keep in mind the ramifications of doing so. Tread carefully. Also, as with any personal information, remember that once you’ve shared, you likely won’t be able to control where it goes next!

How do you feel about sharing your salary information? Do you do it?

I am a 20-something young professional with a background in Human Resources. I am the Work area content manager and as such have the privilege of indulging my love of research and blogging. I am extremely excited about Qvisory and can't wait to see how far we can take this concept. I truly believe that young Americans are faced with challenges unique to this generation and am committed to equipping them to succeed in this dynamic environment. See Erika Mitchell's other posts and profile.

Got an opinion? Speak out on news and issues. Submit a blog post or video to Qvisory.

2 Comments

Erika Mitchell
05/15/08 12:01 PM

Thanks for sharing, MumAboutMoney! I think it's interesting that you were relieved to share your salary information and I'm sure your friend learned a lot from your conversation. You make a good point about sharing with someone you trust, as this is obviously info that could make life tricky should it get into the wrong hands.

MumAboutMoney
05/15/08 03:47 AM

I have never felt very comfortable sharing salary info and am usually very private about money - just like my parents. But a couple times recently, when the subject came up with a friend/peer who was looking for advice, even though I was not asked point-blank to do so, I divulged. And you know, it was a relief to do so, and a great conversation ensued. I guess it requires picking the right person to share with, whom you trust. And if they share back with you, you can learn a lot from the conversation!