In Donald Trump’s Blog, Italy Posts Salaries Online, he explores whether or not salaries should be made public. Apparently, it was a disaster when Italy posted the salaries.
Typically, financial matters of the company are a "need to know" basis. Employees entrusted with payroll information are held to a high standard of confidentiality and if breeched often face termination. In academic medicine (government institutions), salaries are a matter of public record. Anyone can make a trip to a certain Medical School Library (or through public records request) and ask for the state budget and spend more hours than you could possibly endure....looking up everyone's salary.
In the private sector, salaries should be confidential. Certainly, employees are curious, but you may discover information that will make you miserable and ruin working relationships. My advice is to know the market rate for your skills and ensure that you have a career strategy that moves you along with a competitive salary.
Tuesday, June 17, 2008
Secret Salaries?
Remember, good employees can always find better jobs - focus on doing your best and keeping your skills sharp.
If an employer is not paying market rate, there are plenty of other options for high performers.
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