If you feel like you are not sure what the market rate is for you salary, or that you need to move to a new employer to get more money, then you are not alone. Today, Glassdoor unveiled the results of its Global Salary Transparency Survey, which reveals almost half of employees globally (47 percent) say their employers still do not share pay data internally. Furthermore, the majority of employees in the UK (69 percent) wish they had a better understanding about what fair pay actually is for their position and skill set at their company and in their local market.
Employees Believe They Need to Change Jobs to Earn More Money
Perception among employees may be that the grass is greener elsewhere, as many believe they could earn more at another company—an important message to employers. More than half (57 percent) of UK employees feel they must switch companies in order to get a pay rise. Older employees aged 55+ (43 percent) are less likely than their younger colleagues (65 percent of those aged 18-24 and 62 percent of those aged 25-34) to feel they must switch jobs for meaningful compensation changes. If you do decide to look for a new job, then you’ll need to practice your interview technique – here are the most common interview questions.
Most Employees Report Their Companies Do Not Share Salaries Internally
Times are changing, but sharing salary information among employees at a company is still not the norm. Less than half (45 percent) of employees in the UK say they know their company discloses salary information internally. This is higher than in France (33 percent), Germany (28 percent) and Switzerland (25 percent), although not as high as in the Netherlands (50 percent).
The majority of UK employed adults (74 percent) believe salary transparency is good for employee satisfaction and approximately the same percent (76 percent) believe it is good for business.
Lack of Understanding Persists Around How Pay is Determined
The survey also uncovers that globally, employees have a lack of understanding about how their pay stacks up in the market: More than two-thirds of employed adults in the UK (69 percent) wish they had a better understanding of what fair pay is for their position and skill set at their company and in their local market. More than a quarter (28 percent) indicated they do not have a good understanding of how people are compensated at all levels within their company.
Clarity around compensation practices is divided along gender lines in the UK, where significantly more employed men than employed women believe they have a good understanding of how people are compensated at all levels in their company. In the UK, more men (64 percent) than women (55 percent) say they have a good understanding of how people are compensated at all levels in their company.
It is concerning that female employees seem more in the dark about pay levels where they work. In a separate report, our Chief Economist found that there is an undeniable gender pay gap in Glassdoor pay data, both in the UK and around the world. Men earn more than women on average in every country we examined, both before and after adding statistical controls for personal characteristics, job title, company, industry and other factors designed to make an apples-to-apples comparison between workers. A lack of transparency about pay is not going to help close this gap.
The Glassdoor Salary Transparency survey polled 4,300 adults employed full-time/part-time in seven countries (the United Kingdom, United States, Canada, France, Germany, the Netherlands, and Switzerland). If you would like to see the complete results, please take a look at the Global Salary Transparency Survey Supplement, which details employee perceptions of salary transparency at their company, whether employees have a good understanding of fair pay for their job, and how salary transparency may impact employee satisfaction and retention. This includes breakdowns of survey results by gender, geography and age.
Check out the complete results of the Glassdoor Global Salary Transparency Survey and detailed employee perceptions by country.
PAY EQUALITY ROUNDTABLE: Watch what Hillary Clinton, Glassdoor CEO Robert Hohman and Olympic Gold Medalist & World Cup Champion Megan Rapinoe, among other leaders, have to say about pay equality topics, including potential solutions to reach pay equity.
Want to increase salary transparency at your company? Share your salary anonymously on Glassdoor.
This survey was conducted online within Canada, Switzerland, Germany, France, Netherlands, United Kingdom and the United States by Harris Poll on behalf of Glassdoor from October 1-5, 2015 among 8,254 adults ages 18 and older, among which 2,049 are in the U.S., 1,057 are in the UK, 1,019 are in The Netherlands, 1,029 are in France, 1,029 are in Germany, 1,018 are in Switzerland, and 1,053 are in Canada. Furthermore, among all countries, 4,300 are employed full-time/part-time, 930 are employees in the U.S., 531 are employees in the UK, 486 are employees in The Netherlands, 605 are employees in France, 630 are employees in Germany, 628 are employees in Switzerland, and 490 are employees in Canada. All responses noted are from adults who are employed part time / full time. This online survey is not based on a probability sample and therefore no estimate of theoretical sampling error can be calculated.