5 reasons why millennials break the salary taboo

Millennials are far more comfortable discussing salaries than older generations, according to a recent survey conducted by The Cashlorette.

The survey found 30 percent of millennials feel comfortable discussing pay with coworkers, while only 8 percent of workers aged 53 to 71 felt the same. Millennials also discussed pay more with family and friends.

Here are five reasons why millennials are breaking the salary taboo, according to a Business Insider report:

1. They value equality and fairness. A 2016 Deloitte survey found 36 percent of millennials working in a place with high job satisfaction said there's an emphasis on fairness, compared to 17 percent with low job satisfaction.

2. They value transparency. The same Deloitte survey found "open and free-flowing communication" present at work for 47 percent of millennials happy with their jobs. It was present at 31 percent for people who were dissatisfied.

3. They prefer collaboration over competition. Millennials prefer to work alongside their peers. Malcolm Harris and Neal Gorenflo explain how this idea applies to jobs, living situations and ride-sharing in Share or Die: Youth in Recession

4. They have shared financial concerns. Seven in 10 seniors who graduated from public and nonprofit colleges in 2014 had student loan debt averaging $28,950 per borrower, according to a TICAS survey. Sharing burdens, such as college loan debts, has led to a culture of openness where people seek to help others.

5. Salary discussions are becoming more common. Companies such as SumAll and Buffer have made pay transparent to all employees to ease tension and increase performance.

More articles on compensation:
The increasingly rare interview question: 'What's your current salary?'
Healthcare salaries continue to grow: 5 averages by occupation
Glassdoor: Physicians hold down 'highest paying job' in 2017

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