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Employers use your personal data to figure out the lowest salary you'll accept

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Re: Employers use your personal data to figure out the lowest salary you'll accept

#241
post #76
post #68

just create your own company, report you pay yourself the equivalent of $676,942.00 to this credit agency. Then watch your numbers go up

You might have to pay tax on that

Credit agencies do not report income to the IRS, so there's no tax relevance. Credit agencies are not party to your obligations to the IRS at all. You can lie to credit agencies all day long if you like.

However, if you do so for the purpose of some kind of benefit, financial or otherwise, it's clearly fraud.

It's hard to remember that that's still illegal these days -- but it is, for you and for me, at least.

Re: Employers use your personal data to figure out the lowest salary you'll accept

#242
post #163

Earlier quoted context omitted.

What are you talking about? You have access to far more info on them than they do on you.

Go read the article

I have read it. I don’t think you get my point. I said ‘access to’. If you think about it, there is plenty of data freely available about the company in most job applications (often including actual salaries they pay their staff - literally the most pertinent data). Yes, employers will use whatever tools they can to guess at what you might accept. It’s a negotiation.

It is perfectly possible for both sides to approach a salary conversation as the negotiation that it clearly is. In reality, many job candidates barely think about negotiating the salary, but I doubt that’s due to not having enough data points. I think it’s probably more to do with not wanting to be perceived as ‘greedy’ or some other moral badness, and finding it more comfortable to let the recruiter/employer play them like a fiddle. Moral pride to spite their face. Sure, we can feel good in the moment by angrily pointing out that companies take various measures to maximise income and minimise expenditure, as if it’s surprising or ‘wrong’. But it might also be helpful to remember that we are in exactly the same situation. Then perhaps we can start negotiating better deals for ourselves, thus improving life for ourselves and our dependents.

Re: Employers use your personal data to figure out the lowest salary you'll accept

#243
post #237

Earlier quoted context omitted.

This is one of those strategies that may be "correct" in the sense that it works once or twice, but isn't a great long term strategy. e.g. let's say you sue and then win: that's now in the public record (which any new hiring company can see).

A better strategy is to push the conversation in another direction: - My current comp is X, but that's not what I am worth to you. - I've done my research, and someone with my experience is worth Y. I expect at least Y. You set your salary expectations with your opening bid instead of letting them make the opening bid. It's also contingent on you having done your research =)

I cannot dísclose muy current compensation due to an NDA: salaries are company propietary information.

I am unable to dísclose that information.

Re: Employers use your personal data to figure out the lowest salary you'll accept

#244

Many years ago, back when companies could ask for your previous compensation [0], a hiring manager once said to me "don't ever lie about your past compensation". I wasn't sure how they could figure this out at the time until someone later pointed out that many corporations do a credit history check on you as part of the background check. This gives them access to past compensation. The information asymmetry here is,…

"don't ever lie about your past compensation" — because they can't figure it out on their own and IF they do (at least in my jurisdiction), you've got a nice case on your hands to sue them for violating privacy laws. The correct answer is: ALWAYS lie about your past compensation. It's the only way to get forward, one way or the other.

The correct answer is to answer the question you wanted them to ask, "I'm looking for $x"

No lie, skirt the irrelevant info

Re: Employers use your personal data to figure out the lowest salary you'll accept

#245

Earlier quoted context omitted.

Equifax’s The Work Number buys salary data from employers and they use it for income verification when applying for loans and rentals. You’d be surprised how much data is out there; and it was all sold by entities you ‘trust’. One example being the DMV

If you lease a car these days you will be swamped with offers from banks and lease-end "providers" as your end date approaches. I got really mad with the dealer until they told me it was the DMV that was selling that information. Regarding The Work Number: you have the right to see your own report and it's worthwhile to do so. And it's scary. A lot of the information is usually incomplete and/or full of holes. I can'…

as an example, i have received usmail junkmail addressed to my address, but with the name of my first cousin's husband's name, which makes no sense unless some incompetent data brokers are just merging their datasets in all sorts of random ways and seeing what sticks.

i dream of phone calls costing the entity placing the call some significant-at-scale price, perhaps a dime, and bulk rate physical junkmail needing full postage.

Re: Employers use your personal data to figure out the lowest salary you'll accept

#247

Earlier quoted context omitted.

Mortgage loans and car loans in America also ask for your W-2 or proof of that said income. Can't prove it, they won't let you use your claimed income as basis for loan approvals.

I never had to supply a W-2 for a vehicle loan. Just my SSN. I almost always get unsecured loans too. They just dump money into your bank account and say "please buy a car with this" and you keep the title. For a mortgage you do have to validate your income. The work around is to just buy your house in cash, I guess (sigh). So I guess mortgage loans leave you open there, but those happen less frequently and may not b…

> They just dump money into your bank account and say "please buy a car with this" and you keep the title.

where is this?

you don't have or keep the title until the bank sees you paid off the loan, in every instance i've seen.

Re: Employers use your personal data to figure out the lowest salary you'll accept

#248

Many years ago, back when companies could ask for your previous compensation [0], a hiring manager once said to me "don't ever lie about your past compensation". I wasn't sure how they could figure this out at the time until someone later pointed out that many corporations do a credit history check on you as part of the background check. This gives them access to past compensation. The information asymmetry here is,…

I'm skeptical. Credit checks don't give you an accurate picture of your compensation and it's not like they get your transactional banking history or tax documents (yet). Even with that it would be impossible to get an accurate compensation figure within 25%, so while I agree there's an informational imbalance if that's how you're negotiating you've already lost.

Eh, I don't have the link at the moment - it was posted some years ago on HN. In the US, your employer very likely reports your salary to a national agency. And other companies can access it.

You can go to the agency yourself, prove your identity, and see all your salary history.

Re: Employers use your personal data to figure out the lowest salary you'll accept

#249

Many years ago, back when companies could ask for your previous compensation [0], a hiring manager once said to me "don't ever lie about your past compensation". I wasn't sure how they could figure this out at the time until someone later pointed out that many corporations do a credit history check on you as part of the background check. This gives them access to past compensation. The information asymmetry here is,…

I'm skeptical. Credit checks don't give you an accurate picture of your compensation and it's not like they get your transactional banking history or tax documents (yet). Even with that it would be impossible to get an accurate compensation figure within 25%, so while I agree there's an informational imbalance if that's how you're negotiating you've already lost.

The Work Number by Experian gives all past income information. I think many (most?) companies participate in it, so it's somewhat likely your current income is being reported.

Re: Employers use your personal data to figure out the lowest salary you'll accept

#250

Many years ago, back when companies could ask for your previous compensation [0], a hiring manager once said to me "don't ever lie about your past compensation". I wasn't sure how they could figure this out at the time until someone later pointed out that many corporations do a credit history check on you as part of the background check. This gives them access to past compensation. The information asymmetry here is,…

So, lie about RSU and Bonus?

It seems like base salary would be easy to track, but other benefits would be much harder.

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