Show me your money

I watched Show me your Money with interest last night and it raised the question, would you share your salary with your colleagues.

When I worked for a large supermarket chain, the payscale was very transparent. If you worked on the shop floor you got x, if you worked on the checkouts you got y and if you worked in a highly skilled area you got z an so on.

It was the same with the managers too, although I’m not sure about senior management.

When I left to join an Investment bank, I discovered the world of not discussing wages, although some of us did (carefully).

I remember talking to my new colleague and been completely surprised that I’d been taken on more than she was currently getting, even though she had two years experience and I had none!

A year or so down the line I was a supervisor doing interviews for new team members and was horrified that the new recruit was taken on on a substantial amount of more money than I was on even though I now managed my team.

Could I complain about it – no!! Because we “weren’t supposed to know”! There was also a lot of difference to what our colleagues were earning in London to what we were when the cost of living isn’t actually much different!

So, would revealing your salary cause problems where you work?

I was shocked last night that two people who did exactly the same role had a £9K difference in their wages, which was hugely unfair, although we didn’t hear the background behind it.

I strongly believe that there should be a uniform wage for each role and then maybe a bonus structure to reward performance, but would this work in the real world? What about length of service, previous experience and transferable skills?

It’s a real minefield!

What do you think?

4 thoughts on “Show me your money”

  1. Hmmm funny isn’t it? I would never dream of discussing my wage at work… but I know for a fact it’s the lowest in the office, but then I’m lowest in rank, so feels fair I guess. It just seems unprofessional to talk about it. Would be interesting to know what everyone earns in a way, maybe it would give me something to aspire to!

    • I think it depends where you work too. As a junior or apprentice you’d expect to be on a lower wage, but once you’d finished your training I’d expect to be moved inline with colleagues!

  2. Having worked in the same bank, I was fairly convinced that I was one of (if not THE) lowest paid member of staff in my departmenet. Someone I was close to (and still in touch with) became supervisor and did reveal to me that my suspicions were correct and that, like you had experienced, someone new was taken on, with no previous experience (by this time I was there for 3 years) on substantially more than me. In the case of my department I and a number of others were convinced it was very much a case of “If your face doesn’t fit” which became even more apparent on my return from maternity leave; I wasn’t even called into the meeting where they asked for volunteers to go to London for a week. And I could have gone since my husband was a SAHD, which everyone of the management knew.

    Anyway, sorry got a bit side tracked. I absolutely agree there should more transparency and that “Above and Beyond” should be rewarded in bonuses rather than as a pay rise.

    • Don’t get me started on bonuses – I agree it was totally biased and Based purely on your far fitting!! I hated white letter day, a few happy faces but mostly hugely annoyed!! Lol


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