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What do you do when you get a great raise and bonus, your team members don't, and they ask you how your comp meeting went? Lie?

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Keeping salaries secret is the easiest way to keep pay low. If you know what everyone else makes, you know what the market rate is for your skill set/level of experience/locale. Maybe you got a bigger raise but they started making more than you. You won't know unless you share information. On the other hand, they will probably be jealous. They won't be mad at you, though, they'll be mad at the decision maker who is paying them less than he* pays you. (*it is basically always a guy)

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"I suppose it went okay"

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I'm with Audit Senior 1. It's incredibly important to know what your peers are actually making. The closest thing to context we have otherwise is whatever poorly labeled and potentially misleadingly organized "market data" top firm leadership wants us to have. The charts of salary ranges and median pay that I was shown at my last compensation discussion were hilariously useless for assessing the reasonableness of decisions made with regard to my current pay grade.

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TC 1. I am not pro Union. They obviously had a purpose back in the day. But today I think they are mostly corrupt entities. If you're looking for fairness where everyone gets paid the same for their work and there's no differentiation for performance then maybe a union job is for you. We are professional. Not blue collar union workers

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There is NOTHING good that comes with sharing your comp with anyone. It only creates bad feelings for one person and there are multiple reasons why comp and bonuses are different. Haven't you heard, classy people don't talk about money?

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Sharing is caring

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I completely agree with AS1 too. There are a lot of articles online that talk about how sharing your salary and bonus amounts with others is very powerful and beneficial for you. And I speak from experience because I asked my peers last year and found out I was extremely underpaid. I'm not mad at them, obviously it's not their fault, but I appreciate them sharing it with me and now I can make a wiser decision to leave or stay w the firm.

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If someone else is being overpaid, I want to be overpaid

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You dont have to lie, but you dont have to be open about it. You can say it went well, or better than you thought, or it went ok, nothing extraordinary. Youre not forced to answer any which way and compensation is a sensitive and confidential topic

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I wouldn't tell them but work the question and say it went well.

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The whole not sharing your salary thing is some Kool Aid made up by the firm to keep salaries low. If they actually had to pay everyone market rates to keep them from leaving partners might not be able to afford that vacation home of theirs.

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With that said, I wouldn't make a big deal out of it unless your significantly underpaid. There's all types of reasons pay differs so if you're in the same ballpark as your peers then don't complain. Easiest way for a salary bump is to just change firms and come in at market rates. Downsides to this approach as well, but it's the easiest way for a salary bump if that's all you care about.

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^ yes. Obviously where you have only 1 or 2 people at a level they don't, but in professions where you have a large workforce all working at the same level I believe that people share. May I ask why you are so against sharing? Unless your a partner trying to protect yor earnings, why would you be opposed?

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Yes. Professionals share this information in industry and in other fields. That is fact. I agree that it is not "classy" to talk about money all of the time. I'm not saying you should tell everyone how much you make all the time. Compensation information should be shared in the right context with people you trust. Or anonymously through the web (glassdoor, for example)

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^I think this may be a generational issue. Are you 35+? I think those of us that are either Millenials or bordering between the two generations have less stigma about this and are more open to full disclosure.

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PwC2. I'm with you. What I make is no ones business but mine. Talking about it only breeds discontent. Someone always gets pissed.

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@EY1 you might as well be an anti-union coal miner

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He just might have some class.

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It's classy to get paid the market rate.

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How do you know the other person isn't overpaid? The flaw in your logic is even if the person tells you their rating and their salary, you don't have all the facts (and all your other colleague's salary and ratings who like to be discreet and not share info like that).

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