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There is a usually a large band for every role. Most
people will demand the same comp as their colleague because they believe they are as awesome or the colleague doesn’t deserve that much. So that’s the reason
If companies can narrow down the band and publish base comp for each band, that will be better. That’s what McKinsey, Bain etc have
They are wide. As they should be. Just because you're paid less than a colleague doesn't mean you have leverage to get paid more. There are compensable factors: performance, experience, education, location, tenure, etc. that can and should lead to differences in pay between peers. If you were to learn your colleague makes more than you, sometimes that's simply appropriate.
This entire thread sounds like the indignation of somebody who is not a top performer. Put your head down, do your job, and you will get paid accordingly.
Our comp is a formula based on collections, so it’s really easy to know broadly what every person and every level is making plus or minus a few variables.
There's nothing that is hidden? That's great!
Yep. Transparency benefits workers, on average
generating enough revenue that you can get away with saying things others don’t want to hear
Individuals don't have context or comparison for their performance, leads to trouble
Transparency does not limit compensation for top performers. Top performers can be transparently rewarded with higher bonuses and faster promotions.
Lack of transparency suppresses average wage. It benefits the business, not the employees.
I don’t want to be paid the same as everyone else. It’s not that I need more money, it’s how I keep score.
But knowing the info does give leverage to get higher, at least in my opinion
I am always happy to share salary information. But organizations which choose to compress pay in response to pressures around equity should look at their applicant pool/acceptances, as well as employee retention, to see if they're happy with the results.
Does it seem like compressing is getting worse?
I am happy to share my compensation with anyone who asks, alongside the context people need to understand why said compensation might be the way it is.
It is not my responsibility to manage those who cannot think for themselves or who jump to the wrong conclusion without asking additional discovery questions.
MD1, it's all about setting expectations. In my world, transparency is the only thing that eases my mind. It's one of the key things I look for in a business. No transparency? No interaction from me.