How Salary Transparency Helps LGBTQ+ People
There’s one thing LGBTQ folks won’t talk about? Is it sex? Is it religion? Politics? Nope! Hear why salary transparency’s important for LGBTQ folks.
Afraid to talk about your income? Out of all 24 questions that we asked in the new The Motley Fool/Debt Free Guys LGBTQ+ Money Study, the question “what is your individual salary / annual income?” is the single question that elicited the most non-responses.
Why?
These folks likely fall into 1 of 3 categories:
1. those embarrassed by how little money they make,
2. those embarrassed by how much money they make and
3. those who think how much they make is no one’s damn business
As with money, we need to talk about our salaries. Talk about your salary so that you and others can know you’re being paid fairly.
Despite popular belief and what your employer wishes you’d believe, it’s illegal to have a company policy that bans talking about and sharing salaries. Normalize talking about money including your salary, so that we can all do better with our money and ensure you’re being paid fairly. Doing both will help improve your and the queer community’s financial security.
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What should you do now?
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We’re David and John Auten-Schneider, the Debt Free Guys (https://debtfreeguys.com) and hosts of the Queer Money® podcast. We help queer people (and allies) live fabulously not fabulously broke by helping them 1) pay off credit card debt, 2) become part- or full-time entrepreneurs and 3) save and invest for retirement.
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