Let’s be honest, money is important.
We need it to live, to advance our lives, and in some cases to feel valued in work.
While it’s important you feel happy and supported in your professional environment, comparing salaries between two employees can breed resentment and anger – especially for the worker on lower pay.
Even more so when the two individuals are working in the same role.
Now, social analytics tool Buffer released its formula for calculating employees’ salaries.
The equation starts with the base pay of an employee’s role, and then adjusts it based on experience, number of dependents, and number of years at the company.
The company also factors in where an employee is based, and for extra ease, offered an online calculator on its website so other employees could compare their salaries.
Buffer’s co-founders Joel Gascoigne and Leo Widrich decided to release the information so employees could see how their pay reflected their experience and living costs:
“This means that now anyone can see what they might make at Buffer by plugging in their own data for location, experience and so forth.”
While it might not work in every profession, an online transparency calculator could help heal some resentment.
Or make you value your real worth.
Either way, transparency can’t be a bad thing, right?
