Salary transparency is important to employees. According to a new survey by ResumeBuilder.com, the majority (88%) of workers would demand to know the salary range for their jobs if allowed under new salary transparency laws.
Of the 1,200 U.S. adults surveyed, over two-thirds (68%) said they would demand the highest end of the known salary range. More than 6 in 10 (63%) would demand equal pay if they found out their co-workers earn more money. A small percentage (4%) said they would quit upon learning this.
Pay transparency pays off for companies looking to hire new employees. The majority (85%) of workers say they are more likely to apply for a job that lists a salary range. Support for salary transparency laws is high (92%). Respondents believe that these laws will improve wage gaps (61%) and make it easier for job applicants (58%). Still, most (63%) feel it will be problematic to know how much their coworkers make.
According to Stacie Haller, career counselor and executive recruiter, top salaries are reserved for candidates who meet or possibly exceed every job requirement. “It remains to be seen if companies will list salary ranges in good faith and how candidates will use this information,” she said.