I remember back in high school when hourly wages were freely shared among my friends, and even among people that were simply acquaintances.
Fast forward to the “real world.” After college “how much you make” quickly becomes a very taboo topic.
No longer is everyone making somewhere in the minimum wage to $13 an hour range. Salary and income now vary drastically depending on a variety of factors such as what degree someone has, what company they work for, what career they pursued, and more.
I share my salary with as few people as possible. Beyond that, I rarely tell others how much we make in rental income, stock investment income, or blog income.
- Others in comparable jobs – Working as a financial analyst at a large corporation means there are many others in similar jobs as me. It would be foolish to share my salary because there are likely others I work with or who work in similar jobs that make more than me or less than me.
- Salary data is widely available – While you may initially think that sharing your salary should be less of an issue because there is a wide range of salary data available online, it actually is even more reason not to share.
Anyone can go to Glassdoor or PayScale and see extensive salary data. You can even view by job, by company, by location. If someone legitimately wants to know how much a reporting analyst makes, they can look online. There is no reason to share what you personally receive.
- Potential downside outweighs potential upside – There really is no reason that a friend, acquaintance, or anyone else should need to know how much you make. If you do share your salary, you could cause others to become jealous because you make more than them. Others may also start boasting if they make more than you.
I’m not saying every time you voluntarily share your salary with others something bad will come out of it. What I am saying is, what good could come out of it? Not much.
While I have been focusing primarily on salaries up to this point, I think it’s important to touch on business or investment income. If you work a 9-5 but make investment income from a business, stocks, or something else, there typically isn’t much upside in sharing this publicly.
I do think that in certain contexts, such as a private conversation with another business owner/investor who acts as a mentor. I know that some other bloggers who mentored me when I initially started out were gracious enough to tell me their blog income, and it acted as a huge motivator. Likewise I also talk about my rental income with other landlords, if the context is right.
But what about bloggers? Yes, there are a number of bloggers out there who share their “side hustle” income, investment income, or other non-salary income. I think this is a bad idea to share side hustle or investment income. There are too many negative things that can come out of sharing this income.
The big exception is if you are a full-time blogger. While I don’t know this for a fact, I suspect these posts get a lot of traffic and attract new readers who turn into daily readers. There is a lot of upside to sharing your online income in this case and I think it outweighs the potential downsides.
As for me, I’ll continue to keep my income private. I might share a few things such as giveaways I win or little side hustle experiments, but the potential downside of sharing my income outweighs the potential upside.
What are your thoughts on sharing your salary, investment income, business income, etc.?
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Since I blog mostly anonymously I share some of my investment income. I’ve found that it relates better to some of the points I’m trying to get across about money. If I wasn’t anonymous I would never share as much as I do. In my personal life we don’t share our income although my wife tells her friends I’m the financial nerd
I’m with ya! I’m keeping all my income under wraps.
Recently two of my coworkers had their performance review. One is a 30 year veteran and the other isn’t even really qualified to do the job he had (but he’s mostly rocking it). The veteran asked how much raise the young guy got. He didn’t want to share an amount (smart) but the veteran was really asking about percentage anyway. She got a 2.5% raise and the young guy got a 3% raise. As she told me about the situation, she was trying to brush it off but I could tell it really upset her. Goes to show that even sharing percentages or “about enough to” information isn’t always really helpful.
Interesting…I share everything on the blog, but that’s because I started it to have complete transparency and accountability to help me get out of debt and then, obviously, retire by 40. Without it, I wouldn’t have the blog, LOL. But, you do make some really good points.
I definitely agree that it’s better to not share your salary. I think it can really change the relationship between people or friends, particularly if there’s a big gap in salaries. You can start looking at people differently if they earn significantly more or less than you, and I much prefer to be able to relate to people on a more personal level, without the overlay of ‘salary judgements’.
I also don’t feel the need to know what other people earn – the jealous feelings you can get from knowing people earn more than you tends to far outweigh the little ego boost you can get from hearing that you earn more than others. Better to just focus on your own life and ensure that you’re being fairly rewarded for the value you’re providing to the world.
I love knowing what people make, I personally find it motivating, and with blogging, different income levels serve as a kind of barometer for myself. I also think talking about it helps break the money taboo.
One time a coworker came into my office while I was looking at my paycheck online. She came up behind me, so I didn’t see her BUT she saw my salary. She has more qualifications than I do but I have much more experience than her. I make more than her and she was not pleased. It was awkward. She still occasionally brings this up. I always try to keep my salary a secret at work. Although starting a blog I have hinted around…you’ve given me food for thought. Thanks!
Mrs. Even Steven is a private person so I do not share our income, I like my marriage;) I do open up a little more on what debt I pay off, but salary and investing are off the table for me.
I don’t see any upside to discussing compensation with co-workers. Chances are you aren’t getting paid the same and one of you is going to feel shortchanged. I do think discussing salary with people you trust can be helpful, though. My sister was the one who pointed out that I was doing way too much work for the amount of money I was being paid at my last job. I love reading about how much bloggers are making. I find it motivating!
I share my side hustle income (it really isn’t that much so I doubt I’m making anyone jealous) :) but not my income as a freelancer as a whole. Usually what I say in my monthly reports is whether I make my projected income (that number was only put out there once-and I wish I hadn’t) or if I’m under. I realize I don’t feel comfortable putting everything totally out there.
I’m indifferent. It’s more what you do with the money than how much you make. I’m sharing all of the blog income for Money Propeller, to help others and to keep track of how that monetization experiment is going.
Come on, tell us. Don’t think too much about it…just do it. :)
I am on the side of not disclosing income. I understand why some bloggers do it, but honestly I don’t really care about what they make. I am more concerned about how me and my family is doing. I think that income sharing leads to more negative results than positive, so I am keeping mine private as well.
We also don’t disclose our salaries or detailed finances to anyone else. I think it’s a comfort level issue for us, and we’d just rather keep some things private. It’s possible we’ll decide to disclose this info on our blog in the future, but not right now. As for sharing with friends and colleagues, I agree with your take!
I don’t share salary info but I have in the past shared side hustle income. I didn’t give an exact number but just that I made more than a certain number. What are the downsides to sharing side hustle income? I’m genuinely curious to know, may affect my decision to share in the future
Beachbudget why did you regret it? I’ve never shared our income but I have shared savings goals and debt payments so I’m assuming people can gander as to what we’re making.
I have never shared my income and don’t plan on doing so. I am not a public company and don’t care for the scrutiny. If you are a blogger who makes money sharing money making ideas, ie. Pat Flynn, then it is probably a good idea. It gives your readers motivation and shows them you, in fact, are legitimate.
I’m a private person anyway (funny that I blog about my life though) and like to keep things close to the vest when it comes to my wealth, income, investments. Like you, I don’t see the upside to sharing this unless in the context of a full-time blogger who is teaching/motivating people in how they can earn money online. My guess is, even those people that are disclosing, aren’t disclosing all their income/financial resources. Honestly, I don’t pay much attention to it…who is to know if they are even telling the truth?
Charles@gettingarichlife Haha now what I want to know is how many of those friends come to you for financial advice? I’ve seen an uptick over the last couple years of friends asking me my thoughts on various financial things.
indebtedmom I think the percentages thing is tough because in reality, there’s a lot of people who work like hell but get really small raises, while others are more in the “right place right time” where they will get huge raises and bonuses as long as they show up each day. Generally sharing information about salaries isn’t beneficial.
RetiredBy40 I think sharing your finances is essential if your goal is, well, to reach a certain financial benchmark. The journey to that benchmark is where you are providing value, so it would be too bad if you did not disclose those details.
Jason@Islands of Investing I think it’s hard enough when you are at a different point in life than other people (i.e. someone finishing school while you are working in a corporate job) that you really shouldn’t want to make it any more difficult to relate to others by sharing your salary. I agree, too, that knowing what others make typically doesn’t bring about anything positive.
brokeandbeau I certainly find value in hearing what bloggers and other landlords make, but I’m not talking about blogging income or landlord income, for the most part. I think there are some situations where it can work out well for everyone involved (i.e. hearing from other bloggers what they make – and how). But I know it can be damaging in other situations, such as sharing your salary with close friends.
tesolifestyle This is the exact sort of situation I was talking about when I said that the downside of sharing your salary outweighs the upside. Granted, you didn’t share your salary by choice but I’m sure the reaction would have been the same regardless of how the coworker found out.
EvenStevenMoney It’s interesting you bring up debt. I think debt is interpreted differently by different people, because it’s all about relativity. If you make 200k a year, 20k in student loans isn’t much. But if you only make 20k a year, 20k in student loans starts to look like a much bigger number.
CashvilleSky I think sometimes talking to certain people about your income can be beneficial, such as the scenario you described. Other times it can blow up in your face – what if your sister had gotten upset about how much you made or vice versa? Always a touchy subject imo.
NewlywedsonaBudget Beachbudget I put out a “goal” figure for my side hustles at the beginning of my year but because I never mentioned it again I think everyone forgot it ;) I have never shared my blog income formally nor do I think I will unless I sell the site.
I’m pretty private about my overall income. I really don’t see how it would benefit anyone else from knowing it or how there would be any upside to me from sharing it. I may give generalizations regarding the industry as a whole (I’m a CPA in industry), but never the nitty gritty regarding my personal income or income streams.
I agree with you, I will keep my income private. People are crazy. I don’t want them knowing too much information.
I was raised with the idea that it was definitely not appropriate to discuss income. I was never privy to my parent’s earnings until I was an adult, and I still would not dream of asking anyone how much they make- friend, family, etc.
I do think that when it comes to blogging, it’s different. As you said, I think those impressive income reports generate a lot of traffic, as they seem to boost a blogger’s authority and influence among readers.
Yea, I’ve thought about sharing net worth and salary, but you’re right there are downsides. Plus, while my blog is too small to have internet trolls, I’m sure at some point there will be comments that your financial advice is no good because you make more money than they do and wouldn’t understand their predicament or something to that effect. In any case, I work in government and actually that info is pretty public if you know where to look… Also, the salary is really based on seniority and position which is info that can easily be found.
I made a decision to not share my income or net worth on my blog for a few reasons but the first one was plain and simply: because I don’t see the necessity for me to do so. Also I am not anonymous and my husband is not part of my blog in an active sense. I have the right to keep our numbers to myself.
The whole jealousy thing is a problem. I once shared a raise that I had received with a coworker because she was complaining about receiving additional work with no extra pay. I had also received additional work but I managed to ask for more money and I got it. She didn’t ask so she didn’t get anything. After I told her to ask for more, she wanted more details from my increase so I told her. I’m not sure it was the right move because I don’t think she ever received as much as me and it was a bit of a thorn on her side. This was a while ago and I just wanted to help her out but I learned that lesson. Unfortunately, when you try to help others it may back fire on you.
moneypropeller Yes, but would you share your SALARY at your full-time job? Blog income is a whole different can of worms, though some people it is their full-time income.
DonebyForty Haha! I wish more people did this, though I’m honestly not terribly interested in what other individuals make. If I wanted to know what a certain person with a certain title with a certain company makes in a certain city, it would be easy to find out via some of the online resources out there. On an individual level there is no reason I should need to know.
blonde_finance Exactly! I think there is some real potential for negative side effects, and a very slim chance of positive things coming out of it.
Mrs. Frugalwoods I don’t ever anticipate disclosing this information on my blog, because once it’s out there you never know who will stumble across it. Plus some people I know personally read my blog – or at least I like to think that ;)
NewlywedsonaBudget Here’s a scenario: your employer finds your blog. Sees you make x dollars on the side. They may think you don’t “need” a bonus this year. I’m being general here so please give me some liberty there. Not saying it applies to your personal situation, but it does to a large majority of others.
DebtRoundUp Yeah I think it can have big upside for some bloggers, but I think for most it just doesn’t make sense. I’m with you on not planning on sharing my income.
Sharing income with co-workers is for sure a bad idea. For their sake and your own. In my recent past I had an inclination that I made more than my counterpart because I negotiated during my interview… something I had a feeling she didn’t have the guts to do. On the other hand I made less than a co-worker in the past, found out my accident, and felt slightly resentful towards him because I felt I did better work.
I think there is peace of mind in not knowing unless it serves as a motivator – in situations like striving to increase blogger income like you discuss.
Hey DC,
Initially when I read this, I though “share” meant share with someone else i.e. give them some and they give you some.. I realise how ridiculous that now seems :)..
Beside the point, I’ve always been reasonably transperent and open about what I earn however it does feel slightly awkward when I disclose that I am earning almost double what a friend is who also has a college degree.. I can see good points for not mentioning/sharing your salary but personally yes I am happy to discuss.. It probably comes down to upbringing as well (potentially)
If asked, I have no problem discussing it for the most part, it’s only money. I certainly won’t disclose minute details on the internet though but rather generalize when I need to.
DC @ Young Adult Money DonebyForty I find that knowledge of salaries within your own company is the very best information you can get when negotiating your own (or raises/promotions, etc.). If you can nurture relationships with colleagues to the point that you can have this kind of honest conversation, it can really help you in those yearly reviews…
I don’t feel the need to share my salary….in fact my company discourages it. if you share your salary in the hallways, all of a sudden people at the same “level” as you are instantly comparing themselves – potentially causing some hard feelings if they make less than you. There’s just no need for anyone to know exactly how much I make.
Brian @ Luke1428 I think you’re right about full-time bloggers not disclosing ALL their financials. They definitely hold back something, and if they don’t, they probably will at some point.
Thias @WealthHike There is so much data about various jobs in various industries that there really is no upside to sharing your individual income. You could even quote a range if you need to, but generally there isn’t much benefit or upside.
Jason @ The Butler Journal In probably 9 out of 10 scenarios (if not higher) there is no upside. Definitely a good thing to keep private.
TheWriteBudget I can’t fault bloggers who share their blogging income. I can only imagine that those posts are some of their most popular, and in turn generate them even more profit!
Andrew LivingRichCheaply Good point about some government jobs having public salary information (again, if you’re motivated enough and know where to look for it). Even if you are a director of finance for a city, you’re salary is going to be public for voters and others to see.
MoreThanJusMony I think there are a lot of bloggers who are married out there and it really makes no sense to share your spouse’s – or your – salary/income. The most likely scenario is people you know end up seeing it and judging you.
Practical Cents I think at work you DEFINITELY should not tell others at your same level how much you make. I did share with one co-worker from my old team, but I was leaving for another part of our (very) large company. He was looking elsewhere at the time, too, so I didn’t think it was a big deal. Those are the very selective times I do share.
DonebyForty DC @ Young Adult Money Great point, though I’m scared of having these discussions sometimes because I think it comes with a risk. I work at such a large company that this information is available on a site like Payscale or Glassdoor (even detailed information for specific positions).
TrendyCheapo Thanks for sharing your experience. I think learning what other companies are offering can give you the guts to ask for more. It takes the whole “individual-level” comparison of yourself to other coworkers out of the equations and gives you a more credible argument: industry-level data is more powerful in my opinion.
mycareercrusade If you’re so open, mind if I ask how much you make and what you do for a living? ;) Haha but seriously I’m definitely on the other end of the spectrum. I just don’t see any upside to it.
PlungedinDebt In that case, how much do you make and what do you do for a living? :P But yeah I just don’t see the upside and see way too much downside potential when it comes to sharing your income.
DebtChronicles I agree with you, and there obviously are going to be people at the same level making different salaries, so why make anyone feel bad about making less? It’s also why I think negotiating when you take a job offer is a must – the worst thing that can happen is they say no.
DC @ Young Adult Money DonebyForty I hear you. I similarly work for a large, publicly traded corporation. But I have found there are significant outliers from the information found on those sites. It’s the outlier information that is most helpful — the top performer who’s making 20 to 30% more than the range shown, or who has obtained a five figure signing bonus, or a big annual bonus — that helps me.
The rub is getting comfortable with enough with a colleague to have that candid conversation, and to trust each other. It takes time, but those are the relationships worth building, and keeping.
We’re big believers in keeping our income private too, for all of the reasons you mentioned above. Just too many cans of worms that can be opened up. :-)
My company has a pretty open salary/compensation package based upon levels, and it’s easy to see what level someone is at. So, while an exact amount isn’t easy to get, a general range is. For that reason, and for most of what you mentioned, I keep my salary private at work and outside of the workplace. I’d rather people not think I owe them (or myself something) because of what I make.
DC @ Young Adult Money NewlywedsonaBudget ah that makes sense. I will say though, that my boss DID find my blog, but it has actually helped bc she’s seen all the work we’ve put into paying off our debt and saving. I’ve goitten raises every year, a bonus, and am making $20k more now than when I started 3.5 years ago.
I never shared salary information with coworkers, but it might have been casually mentioned to friends, as they were genuinely interested in what a general entry-level position paid (they were still in college at the time). They weren’t the type to take advantage, though. As others have mentioned, there is too much of a risk of jealousy in the workplace once those numbers get out. My boyfriend’s coworkers actually did share their salary with him – thankfully they all get paid roughly the same as they all have the same role in the same department, and have all been there less than a year. I was surprised they were willing!
DC @ Young Adult Money mycareercrusade I would love to share but probably on not sure a public forum, shoot me an email to careercrusader89@gmail.com and I’ll let you know what I earn and I work as a business analyst for an investment bank here in Australia :)
Laurie TheFrugalFarmer Yeah there really isn’t much reason to share it. I even feel odd talking to hiring managers about it (I had to since I just interviewed and started a new job). It’s weird knowing that they know what I make, but it shouldn’t be weird in that instance haha.
ImpersonalFinance The ranges are HUGE at my work, but you could typically just use the middle range. Plus I work with people all over the US (and the world, actually) so the ranges vary by city. But yeah, there is nothing to be gained imo.
JourneytoSaving I’m surprised they were willing to tell, too. Imagine if people who are all in the same job for the same amount of time made materially different salaries?? It’s possible.
I agree with you, DC. It’s weird, I’m really open with my net worth on my blog, but I don’t feel comfortable with sharing my income!
Salary should definitely be kept private amongst coworkers, and even friends for that matter. I think most companies discourage it. The only negative that I see is if you want to get an idea if there is gender disparity in salary. I guess you just have to rely on HR doing their job and keeping things fair but why do I not take comfort in that statement?
Im with you.. There is no reason to share you salary with your co-workers.. Or your friends.. Or even your kids (kids don’t really know what to do with that information)…
With that said.. I am a total GlassDoor honk.. And I do recommend that everybody check their own salary on there to make sure they are being paid appropriately for their position, in comparison to their peers.
LisaVsTheLoans Haha that is a bit weird. I don’t see a benefit from sharing either.
debt debs As I said in the post, there are websites out there with a lot of salary data. I think that can help people understand what an average pay is for a given job at a given company.
seedebtrun I love GlassDoor! It really helped me when I was negotiating the salary for my new position. It’s great to know what other people in your position are roughly making.