Millennials more likely to reveal salary than older generations — Forever 39 Podcast
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Millennials are known for breaking the rules, especially in the workplace.
A recent poll finds that when it comes to revealing their salary, millennials are an open book. And that includes sharing it with their coworkers.
According to The Cashlorette, a personal finance website, nearly a third of adults aged 18 to 36 admitted to sharing their salary with a co-worker. That compares to only 8 percent of Baby Boomers and 19 percent of Gen-Xers.
And millennials aren't just sharing their salary information with their co-workers. According to the poll, which surveyed over 1,000 adults, 68 percent of millennials said they told a family member what they make, and 48 percent said they told a friend.
Now whether you reveal your salary or not might depend on which side of the argument you're on. Some experts will tell you it's a no because it could create resentment, tension and jealously in the workplace, especially for those co-workers that are making different salaries despite doing the same job. And it's not always easy for workers to keep things in perspective once they find out their cubby mate is making a whopping $20,000 more than they are. Perhaps that $20,000 difference is due to the worker's experience or education.
On the other hand, knowing what your coworker makes could give you the chutzpah to demand a pay increase from the boss.
Whether you choose to tell all or remain silent, one thing is for sure — your employer has no right to stop you. Under the National Labor Relations Act, employees have the right to spill the beans about their paycheck without fear of being terminated.
In this Forever 39 episode, we discuss whether telling your coworkers how much moolah you're making is a do or a don't? If you're still on the fence about it, check out this article from PayScale that takes a detailed look of the drawbacks and benefits of sharing your salary with your coworkers.
— Annette and Megan, Forever 39
Join us for next week’s podcast when we chat why making friends in your 30s and 40s is so hard, our favorite Christmas movies, and how frequently you should be washing common household items.