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🎉 Share your salary with coworkers? 💰
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💰 Should you be sharing your salary with your coworkers?
🧑💼 How to make $334k per year
💤 Work in your sleep?
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SALARY DATA
Should You Be Sharing Your Salary With Coworkers?
Salary transparency has been one of the hottest topics in the post-covid workforce. People want to make sure they’re being paid fairly. And they also want to know how they stack up against coworkers and counterparts.
Employers are slowly embracing the value of salary transparency, and some states are even passing laws to enforce pay transparency in job postings.
A study of 350 US workers across multiple industries found that 65% of people have asked or want to ask a coworker how much money they make.
Only 30% of workers would be offended if someone asked them about their salary, a practice that used to be considered poor workplace etiquette.
If you are going to discuss salary data with coworkers, here are some pros, cons, and best practices from ZipJob:
Pros:
Transparency & Fairness: When everyone is in the loop about each other’s salary, workers may be at an advantage for collectively negotiating better pay and benefits. A great example of this is when all six main cast members of ‘Friends’ collectively negotiated to be payed $1 million per episode.
Negotiation Insights: Sharing salary information can equip workers to more effectively negotiate when it’s time for performance reviews and potential raises.
Cons:
Workplace Discomfort: The ol’ saying “don’t ask questions you don’t know/want the answer to” is relevant to discussing salaries with colleagues. Discovering that a peer makes more money can lead to jealousy and tension in the workplace, which will most likely hurt the performance of the whole team.
Company Policies: Some companies may have policies against discussing salaries with peers and could lead to disciplinary actions or termination. It’s important to be aware of potential negative repercussions before engaging in some conversations with coworkers. Although, a policy like this is likely a red flag that the culture isn’t the best.
Tips:
Establish clear intentions: People are going to wonder why you’re asking about their pay, even if you consider them a friend. If you’re planning to negotiate a raise soon, or you suspect there may be some sort of discrimination happening, or whatever reason you may have, make it clear early on to cut some of the tension in the conversation. It’s also important to respect a colleague’s decision to not share the information with you.
Choose the right time and place: If someone is willing to share with you, it should be at a time when both workers aren’t busy or stressed. Probably not a good idea to do this at the all-hands meeting!
Would you share your salary with coworkers? |
PAY
How to Make $334k Per Year
This guy is gettin’ after it
A 48-year-old network engineer out of Texas began secretly working 3 full-time remote jobs in 2020.
In fact, this is such a common phenomenon that there’s an entire Reddit community with 266,000 members who work multiple remote jobs (r/overemployed).
The man, “Joseph” (full identity is protected for fear of professional repercussions), kept his work habits a secret to everyone besides a few trusted colleagues. Over the last year, the extra income helped him to pay off the remaining $129k on his mortgage, save for his children’s college fund, and grow his retirement account.
But it looks like the chickens have come home to roost…
In October, one of the companies he worked for announced mass layoffs and he was included. Then, only a week later, a second company announced layoffs and informed him that he would be terminated in January.
His response? Flex his unusual level of job security (weird flex, but ok).
"It's huge that I still have this third job. All of my coworkers and friends are asking, 'Let me know if you need anything,' and I am appreciative. But it's also nice to say, 'You know what — I am better than good.'”
Joseph said the extra money was nice, but being laid off was a relief. Now, he’s owed $50,000 in severance and still has a job. Safe to say, he’s probably the happiest guy to ever be fired from 2 jobs in one week.
Probably not a good idea to go behind your employer’s back like this.
Read more about 3x Joe here.
WORK
Work in Your Sleep?
Weird use-cases of AI in the workplace aren’t the only thing you should be concerned about…
In this weeks edition of “stories that seem like they’re from a George Orwell novel”, US based startup Prophetic just announced a prototype for a device that will allow users to work while they sleep (that’s what they claim, at least).
The device, called ‘Halo’, works by using ultrasound signals to induce lucid dreaming, the phenomenon of realizing you’re in a dream without waking up.
Recent research on how to induce lucid dreaming has led neuroscientists to estimate that at least 70% of people will experience lucid dreaming at least once in their lifetime.
Developers of the new Halo device say that people induced into a lucid dream will have the opportunity to practice demos, perform creative problem solving, or even spend their whole time coding while they’re asleep.
Because who doesn’t want to conduct a demo while they’re sleeping?!
Nightmare fuel. Literally.
“In lucid dreams, you are freed from conventional laws of physics: gravity, conservation of energy, conservation of mass. There’s a reason why history’s luminaries in science, math, and art credit their lucid dreams for their most pivotal discoveries,” the startup’s website says.
The company has already raised over $1M to develop the headband and is working with one of the designers of Elon Musk’s Neuralink device.
New work schedule just dropped: 9am - 5am.
The company says, “the only limiting factor is the wearer’s imagination.”
Office Party says, “no thanks, we’re good”.
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