Is There a System That Will Work for You?

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Kimona: I think we have a financial, psychological, social, educational and freedom salary. And so what you actually earn from your job is just one piece of it. By bringing this number out into the open, i think you're also going to see some weird behavior. Because some people value this number a lot more, other people don't. It's about how we're doing relative to whom we choose to compare ourselves with. They definitely talk about things they don't find out about nearly as much as they would if salaries were fully opened up.

With the exception of a few companies like Buffer and GitLab, 99.99%+ of companies opt to keep their salaries closed. This closed nature creates information asymmetry and at times, inequity in the workplace.

Lack of transparency gives companies a hall pass to not develop a robust compensation system, but at the same time, sharing salaries openly isn't without its pitfalls, including privacy and the tendency for people to over-compare themselves to others.

In this episode, Steph and Cal debate whether companies should share their pay methodology or even fully open up their book. They share a range of studies, including results from Norway, a country that has shared their tax returns publicly since 1863.

If you've felt the information asymmetry in the workforce or are considering how you can get more out of your career, this episode is for you.

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