Sharing pay information with current employees and potential hiring is part of the pay transparency compensation philosophy. Many private corporations have a history of keeping compensation information a tightly guarded secret as pay grades there are less clear than in positions with the government. Employers who pledge pay transparency, though, tend to give employees more details about salary. Let’s talk about how you, as a potential employee, can use that to your advantage.

Ask around

Adobe Stock/ Economic Policy | Pay transparency refers to companies being open about the compensation provided for current and prospective employees

There is much to rejoice as more organizations adopt a policy of pay transparency because coworkers keeping their salary a secret from one another is really one of the key causes contributing to the pay disparity (since you don't recognize you're being paid unjustly, you won't know to ask for something more). Employees may compare their pay and have confidence that they are being paid fairly when salaries are disclosed, whether they are internal or external.

Provide salary ranges at other companies to support your claim

There really is no better influence when requesting a pay raise at work than a straightforward job offer from another firm to hasten the process. However, presenting sample pay from equivalent roles at other companies is a brilliant idea if you're looking to push for a raise but don't really have a new offer. Run a search to find the published salary ranges for positions at comparable companies, and offer sample ranges as one of your request's explanations. Additionally, you may combine that information with industry averages from websites that feature job vacancies.

Be cooperative rather than aggressive

Getty Images/ Time | Salary transparency helps people typically underrepresented and underpaid to get a better leg up

It can be difficult to learn that you are not being paid equally to coworkers who are performing the same amount of work but try to maintain your composure. You don't want to appear harsh. Threats generally don't get people to react well. Instead, you should adopt a cooperative and diplomatic attitude. Find out how you two may cooperate to overcome this equity gap by asking your employer. You must indicate that you're contributing to the solution and having a dialogue. You're placing the responsibility on them to cooperate with you by inviting them to the table.

Conduct research

Make sure you understand why your coworkers earn what they do before you begin negotiating. Your employer might be providing you with less than the median salary for a justifiable cause. An industry certification, an MBA, or another type of higher education may be possessed by a coworker that you do not. It can be a commission or bonus if the position is in sales. Perhaps the company is in a less expensive part of that country, or perhaps it has a lesser budget than other businesses in your industry.

Getty Images/ Time | Recently, pay transparency has snowballed into a growing movement

You need to be able to make fair comparisons. You might still be able to negotiate a better wage in these circumstances, but you might need to lower your expectations. You can use that knowledge to bargain for a higher wage for yourself once you are aware of what others in similar positions are earning. For instance, if you learn that the median pay for your position is $50k, but you only make $45k, you can use that information to support your claim that you should be paid at least the median.