The Benefits and Pitfalls of Salary Transparency with Jason Tartick

The Money with Katie Show

Money with Katie

Self-improvement, Education, Business, Investing, How To

4.8 • 1.3K Ratings

🗓️ 13 July 2022

⏱️ 44 minutes

🔗️ Recording | iTunes | RSS

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Summary

Nothing excites millennials and surprises baby boomers quite like our penchant for sharing how much money we make with one another. But salary transparency—one of the latest tactics for rectifying biases in hiring and compensation—is a means to an end, not the end itself. In this week’s episode, we explore the benefits and pitfalls of openly sharing compensation information within an organization—and how we can share in a way that actually helps one another. Plus, an interview with Jason Tartick of Bachelor Nation fame, and the host of Trading Secrets, a podcast about our “taboo curiosities” around money and career. -- Mentioned in the episode World Economic Forum's data on closing the gender pay gap National Labor Relations Act: Your right to discuss pay in the US Silicon Valley study about top employee performance Tim Low's interview about PayScale and salary transparency 2018 Denmark study on closing the gender pay gap Buffer case study on salary transparency Trading Secrets interview with Rob Dyrdek Trading Secrets interview with A-Rod Trading Secrets interview with Molly Bloom (Molly's Game) Follow Along Listen to Money with Katie here: https://www.podpage.com/money-with-katie-show/ Read Money with Katie: https://moneywithkatie.com/ Follow Money with Katie! Instagram: https://www.instagram.com/moneywithkatie/ Twitter: https://twitter.com/moneywithkatie TikTok: https://www.tiktok.com/@moneywithkatie Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Welcome back to the Money with Katie Show Rich Girls and Boys.
0:09.8	I'm your host, Katie Getty Tossan, and I've got an interesting one for you today.
0:14.8	All things salary transparency.
0:24.1	As both a feminist and someone who just loves when women have more money, salary transparency
0:29.9	is something that I've more or less always been a fan of.
0:34.0	I always assumed that if people's pay is broadcast across an organization, it'll be more likely
0:39.9	that patterns of discrimination and wage disparity will become obvious to everyone, making
0:45.9	it hell-a-awkward not to address it at an aggregate level.
0:50.4	Women and people of color are more likely to be underpaid than their white male counterparts
0:54.9	go figure.
0:55.9	So I figured this could only be a good thing, right?
0:59.1	According to the World Economic Forum, if current trends continue, it'll take another
1:03.6	136 years for men and women to be paid equally.
1:08.6	We'll link the data in the show notes for you.
1:10.9	But as I'm learning, things are rarely as simple as they seem.
1:15.2	The downstream second and third order effects of a decision whether personal or policy
1:20.6	are often not recognized until it's too late, and this subject always felt like a topic
1:25.6	worth unpacking more deeply.
1:27.8	At the end of this episode, I talked with someone who built an entire podcast around discussing
1:32.1	how much money people make, Jason Tartick of Bachelor Nation fame and the popular podcast
1:38.0	trading secrets.
1:39.0	So let's start with the story, right?
	...

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