Discuss your salary

IveSeenTheLight

Generali wrote: »

I wouldn't comment about my love life but no problem talking about money.

Perhaps someone that wouldn't reveal their income could explain why as I sure as heck don't understand it.

Discussing incomes can be bad for business.
It can create animosity between employees if one is paid more than another.
Quite often I've seen the salaries that have to be offered to recruit the right candidate may be higher than the existing employees who may have a number of years experience with the company and their systems.

Of course, it's an employees right to discuss and justify your own individual renumeration with your employer as it is theirs to try and keep overheads to a minimum.

I used to work in a workshop where all the employees salary was the same and there was no animosity.
It's far different from the office place.

Generali

IveSeenTheLight wrote: »

Discussing incomes can be bad for business.
It can create animosity between employees if one is paid more than another.
Quite often I've seen the salaries that have to be offered to recruit the right candidate may be higher than the existing employees who may have a number of years experience with the company and their systems.

Of course, it's an employees right to discuss and justify your own individual renumeration with your employer as it is theirs to try and keep overheads to a minimum.

I used to work in a workshop where all the employees salary was the same and there was no animosity.
It's far different from the office place.

In Anglo-Saxon offices I've been selective about the coworkers I've discussed income and bonus with.

olly300

IveSeenTheLight wrote: »

Discussing incomes can be bad for business.
It can create animosity between employees if one is paid more than another.
Quite often I've seen the salaries that have to be offered to recruit the right candidate may be higher than the existing employees who may have a number of years experience with the company and their systems.

All that's happened in the places I know is:
1. Salaries are discussed to check if women are being paid less - then it's found out disabled people are actually being less so they ask for a pay rise
2. People finding they are paid less leave after asking for a pay rise


Does it affect the employer? Yes because staff if capable leave meaning they have to recruit someone else at a higher salary.

bendix

Ummmm, this is all fascinating, but I'm not sure of the relevance of discussing the merits of talking about salaries or not at work. I for one would never discuss my salary at work with colleagues.

But this is an anonymous money-oriented webforum. It's curious that people happily divulge savings strategies, mortgage payments and yet there is a taboo on income. Surely it's just a different part side of the same coin?

C_Mababejive

lostinrates wrote: »

Its interesting...but not terribly...revealing. the talk about impact on other areas of life is fairly limited.

I think a graduate talking about being ''embarrassed'' to earn more then 17k is a little depressing tbh...in the scale of average salaries and when state support drops off etc.

Its shameful..! Mind you,just having a degree doesnt make you master of the universe. You are not automatically entitled to a high paid job just by having a degree.

http://www.youtube.com/watch?v=9ZqzLM7Dj9E

PasturesNew

I'm doing all right since I focussed and pulled my finger out during September. Now taking what I do seriously, instead of seeing it as the "nice to have/fun/pin money" it originally started out to be.

Doing ... all .... right.

Thx.

michaels

Sex life and income answered in a single posting

PasturesNew wrote: »

I'm doing all right since I focussed and pulled my finger out during September. Now taking what I do seriously, instead of seeing it as the "nice to have/fun/pin money" it originally started out to be.

Doing ... all .... right.

Thx.

MGCP

I'm on £55k plus up to 15% bonus (depending on how well the company does). For the role, I feel like I should be on a minimum of £60k plus bonus, although market average would be more like £64k plus bonus (and very top end for what I do would be about £70k).

Need to work out a strategy to improve my current salary, which is not easy in this market. Kicking myself I didn't hold out for more when they recruited me, but I was unemployed at the time and too thrilled to be offered the job to play hard ball on the salary (especially as they knew it was quite a bit more than I had been on). The other problem is, I love the company so much I couldn't (at the moment) honestly threaten to leave as there isn't anyone else in my area I would rather work for.

I suppose I should just be happy, but it does nag at you knowing you are underpaid compared to industry standard.

GillsMan7

As an IT contractor I'm on £315 per day. I'm very good at what I do but, frankly, am overpaid for the work I do. I come in later than the permies, leave earlier, and take a longer lunch - and earn a lot more than them. I do, however, spend a lot of time working on my projects outside of office hours from home.

Plus sides: The money.
Down sides: Don't get paid for holidays, bank holidays, sick pay, paternity pay, etc. Effectively have no notice period (I can get canned at any moment). Everyone hates contractors. You don't get paid when you're on the bench, i.e. the inevitable time between contracts.

I'd be shocked if I'm anything like this money on my next contract, but obviously I'm happy at the moment (delighted in fact). I've worked hard to get here, didn't go to university, etc, but in all honesty, if I was on £215 per day I'd still be happy.

Six years ago, I was on £5ph working in a pub. I then worked for £13,000 as a Junior Manager at a club, which worked out at less than minimum wage with the 60-70 hour weeks. So in terms of salary, I've come along way. So never give up!! If you're determined enough, you can earn what you deserve, and more.

I hope I don't come across as a flashy git with this post. I appreciate that it's a lot of money I earn, but I'm more trying to demonstrate that you can go from earning little to earning lots without qualifications with just a lot of hard work.

GRM

bendix wrote: »

I think some of those figures are low, particularly for more senior associates. We wouldn't have many / any senior associates earning less than six figures.

The figures at the more junior end stack up with my understanding though.

True story. I work for an IT consultancy. We were bidding to supply a new system that included payroll to a city legal firm - top 20 but not magic circle. Whilst discussing partner renumeration, it was explained that the partners each take £11,000 a month net and the balance is worked out at year end and distributed.

One of the partners rang the payroll department to ask which bank account his £11,000 a month was paid into.

Must be nice

They have an intake of new staff twice a year; they start on £64,000. Their bonus is structured in such a way that there is a significant rise if they manage to bill more than 2,000 hours a year. Divide that by 52....