Philadelphia partner David Woolf was quoted in an article for Ignites titled “The More You Know: How Probing Peers' Salaries Pays Off.” The article discussed how staffers who investigate peers’ pay are better equipped to ask for raises or promotions.
David notes that, from an employee standpoint, asking colleagues what they earn can be worthwhile. “Any time you have more data, you’re in a better position” to negotiate, he said. However, David warns that employers should be prepared for employee reactions, given that “people react more to comparative differences than absolute values.”
David suggests that companies should conduct audits of employee pay, and either rectify or feel comfortable that they can justify the reasons behind any major variances. Such audits can not only help thwart future discrimination claims, but also will put the company in a better position to address employee pay issues generally.
Read “The More You Know: How Probing Peers' Salaries Pays Off.” (Subscription required)