Why the discourse on salaries needs to change: Money is a touchy subject. People are taught that it’s rude to ask how much something costs, or how much someone has saved up, and most importantly never to ask someone how much they make. Talking about salaries has been a major taboo for so long, forcing people to stay quiet about how much they earn, and leaving them blind to the fair pay they should be getting.

It’s an ancient mentality: The etiquette and rules surrounding money-centric conversations has been passed down from generation to generation, and it is only one in an exhaustive list of off-limit topics. Religion and politics are also sensitive topics parents deem too controversial for a casual conversation among friends. In Middle Eastern societies especially, the mentality stems from the evil eye — an impressive salary will attract envy, while a below average salary is something to be ashamed of. “There are few things that can cause joy, shame, contentment, anxiety and stress the way that money does,” financial journalist Korrena Bailie told the New York Times.

The post-pandemic market shift: An unfortunate consequence of growing up not discussing money matters is the lack of knowledge of basic financing, saving and investing. Many people are currently struggling to make ends meet amid the ongoing cost of living crisis, soaring inflation and the Great Resignation — a recent trend where workers are quitting their jobs voluntarily — bringing the topic of money to the forefront of people’s minds, especially when discussing employment, the Financial Times wrote.

Why does it matter? An open conversation about salaries will ensure the company is devoid of pay discrepancies and create a more balanced work environment, putting employers in a position where they must pay employees with the same title an equal salary. An open conversation will also help ensure employees in the same field have similar pays across the various companies they might be working in, revealing whether a specific company is paying employees less than market value.

Employees value salary transparency: A Visier report about pay transparency found that up to 68% of employees are likely to switch employers who offer better salary transparency, regardless of whether or not that meant higher wages.

And there’s a demand for it: 63% of surveyed employees would confront their employers and request equal pay if they find out they are getting paid less than their colleagues, according to a ResumeBuilder.com survey. Around 4% said they would quit in that situation, while another 9% said they would take legal action. 85% of respondents said that they are more likely to apply for a job if the salary range was listed in the job vacancy and a majority said they are likely not to apply to a job with an unsuitable range.

Maybe we should take a cue from the US: The Colorado Wage Transparency Act came into effect last year, forcing employers to include a salary range in their job vacancy listings and prohibits employers from taking adverse actions against employees who discuss their wages with others.