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Job market is just like any other market - governed by supply and demand. Currently, it is not efficient. In fact, not even close to being efficient. This is be
by arocks 13y ago
Job market is just like any other market - governed by supply and demand. Currently, it is not efficient. In fact, not even close to being efficient. This is because, a key characteristic of an efficient market is perfect sharing of information.
This is why ending Salary Secrecy is a good thing - for both the employer and employee. It might seem that the employer is most affected (as the article suggests), but that is not always true. If there is an equally talented person who is not paid well, someone would eventually make a better offer. He would take that offer thinking that his current company would never pay that well.
While tweeting your salary might be quite unlikely, most employees today don't mind sharing their salary details with their friends. It simply helps to understand what the market demand is and improves efficiency of a broken system.
- rtpg 13y agoThere's an important detail about market efficiency in the atomicity of the market. For an individual job, are there really that many applicants (living in the area, for example) to be able to consider them mostly the same? Inversely for an individual, are there enough equivalent jobs for him to consider a 'job market' in the way economists consider markets for houses/apples/cars? I honestly don't know.
- theorique 13y agoequally talented person who is not paid well People are naturally going to disagree about things like equally talented ("Of course my UI was equally difficult to make as Bob's graphics engine! Maybe even harder!") and paid well ("Are you serious? I made 30% than that at my last job!")
- arocks 13y agoYou are right, such terms are ambiguous. But I would be happy even if employees playing the _same role_ achieving the same results get paid the same. But that is often not the case.