Thanks Jennifer.Q. "Do you openly discuss your compensation with coworkers and/or friends?"
What would be much more interesting is having the C-suite, Execs., and Sr. Mgrs. release their bonus and salary information each year.
Think about it.
With rare exception the upper levels evaluate and then assign salary and bonus payments to the middle and lower levels.
And they assert "Its based on performance."
So, given the upper levels own and control their system of management, why
would they receive larger bonus and salaries if performance dips?
- Example Bonus: Percent Control of System of Management:
- Lower Levels: 4 to 7 % . . . . . .< 7%
- Upper Levels: 20 to 35% . . . . . .>92%
Organizational culture is quite simply "The way we do things around here."
Maybe its time to turn on the lights, open the windows, and let some
unaltered fresh air back into the mix.
Corporate culture is the way we do things around here.
Without transparency, what exactly does that mean?
William M. Hayden Jr., Ph.D., P.E., CMQ/OE, F.ASCE
"It is never too late to be what you might have been." -- George Eliot 1819 - 1880
Sent: 10-21-2022 10:07 AM
From: Jennifer Sloan Ziegler
Subject: Salary Transparency and Discussions
ASCE just released their 2022 Salary Report and on November 1, the "Salary Transparency Law" goes into effect in NYC. This law will require employers hiring in NYC to disclose the minimum and maximum annual base salary or hourly wage for a job, promotion, or transfer opportunity in any advertisement for the position. The implementation of this law, and a few other things, has started me thinking on the pros and cons of discussing your salary with your coworkers and friends.
Do you openly discuss your compensation with coworkers and/or friends? What do you think are some of the pros and cons of having these open discussions?
And to answer my own question - I do openly discuss compensation with coworkers and my civil engineering friends. To me, there are more benefits than drawbacks. These discussions help ground my thoughts about my compensation (is it fair, is it reasonable, am I upholding my end of the bargain through my work, etc), help me and my friends weigh job offers (being overpaid is just as dangerous as being underpaid, IMO), and help me stay in-touch with the local market for hiring, salary raises, and promotions for my staff. Sure the ASCE salary survey is nice, but the requirements for a job title (or even years of experience) can vary drastically by person, company, etc. Having these discussions tells me more about what's going on in the markets I serve. On the flip side, there can be some huge negatives to these discussions - mostly employee dissatisfaction with compensation. Hopefully, if these situations arise, crucial conversations can happen between the employee and employer. And don't forget - there's more to your compensation than your salary. I also include work/life balance, PTO (not just days off but also if they expect you to work during vacation), negotiated pots of money for extras like ASCE, etc.
I will give a real-life example of when these conversations helped in my personal life. One of my best friends was offered a great job with a high salary - about 50K more than she was currently making. The job necessitated a move. She was concerned the salary was too high. Over a few conversations we discussed the job responsibilities, the market, the move, and how those all impacted the salary. We also discussed other compensation associated with the offer. We were only able to have those conversations because we weren't afraid to engage in what can be a taboo subject.
Jennifer Sloan Ziegler Ph.D., P.E., M.ASCE