Americans should be able to talk about money freely — more than any other topic out there — says financial expert and author Suze Orman. Right now, that’s far from reality.
“God forbid, we should know how much money everybody makes … That, in my opinion, is how the system keeps us down,” Orman told Moneywise in an October interview.
While many employers have long encouraged a “culture of secrecy” around wages, that is beginning to change. Some parts of the country now require companies to make salary information publicly available on job postings.
Since New York City’s pay transparency law went into in November, three more states have joined the chorus of others that already have similar legislation in place. Job hunters can now find out how much the biggest companies — from American Express to Amazon — are offering for posted roles in the Big Apple.
Yet employees also have a role in preserving the money taboo, and Orman says keeping quiet about money could be costing you.