New Study Shows We’re Clueless About How Much We Should Be Making
We know there’s a good chance we’re not making as much as we should. (Hello, wage gap.) But beyond closing that disturbing 21-cent discrepancy, how do we know what we should be making? In honor of Equal Pay Day, Glassdoor set to find out—and discovered most of us have no clue what our fair-market value is or should be.
The Global Salary Transparency Survey, released today, shows that fewer than half of all employees around the world—64 percent, to be exact—work for companies that don’t share pay data internally, with just 36 percent saying their companies do share internal salary information with employees. Even worse, American employees are the least likely to have a handle on what their cubicle mates or presentation partners take home, with just 31 percent saying their employer shares salaries.
But we want to know. The survey revealed that 69 percent of workers globally wish they better knew what their position’s fair market pay is, as well as what their skill set should command at their companies and in the job market.
Men around the world are more likely than women to think they know what they’re worth, with 59 percent saying they think they they’ve got a good understanding of how much their fellow employees earn compared to 51 percent of women who say the same. According to Glassdoor, “this data point raises questions related to whether men have access to more salary data than women, if they perceive to have more knowledge about salaries—versus actually having pay insights—or if they are asking more direct questions of leadership regarding pay levels.”
But whether we’re talking about the gender pay gap or what our position’s fair market value is, most of us agree we should be talking about it. Seven in 10 workers believe talking about what we make is good for employee satisfaction and business—and we couldn’t agree more. And Equal Pay Day seems like a great time to get the conversation started.