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Introducing Open Salaries at Buffer

open.bufferapp.com

351–352 of 352 posts

Re: Introducing Open Salaries at Buffer

#351
post #155

One result from behavioral economics is that people care more about their relative standing to others than the absolute value of the salary. This is why transparency can be a double edged sword. If I think I deserve to be paid more than Joe, as long as I don't actually know how much he's paid I can believe that I'm being paid more. However, once you have transparency and I can see Joe is getting paid more than myself…

i was thinking the same thing - i read about that in Dan Arieli's book Predictably Irrational. I suspect open salaries probably increases them on average.

Re: Introducing Open Salaries at Buffer

#352

Earlier quoted context omitted.

I've worked under open salary formulas and closed salary formulas. I'd rather work under an open salary formula any day.

Why

1) No stress from "am I getting paid more/less than my co-workers"

2) No stress from "how much will I make in 5 years if I stay here"

On net, it let me focus more on doing my job well and less on politics.

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