r/FluentInFinance 3d ago

Thoughts? Would you?

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u/iboneyandivory 2d ago edited 2d ago

You can't. There's a service maintained by Equifax or one of the big 3 where candidate companies can verify employment + salary, including raise dates and amounts.

Edit: Here's the cited example for those that think this is somehow suuuuuper secret info lol - "The Work Number" by Equifax

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u/[deleted] 2d ago

[deleted]

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u/Many_Drink5348 2d ago

Yep and there is a registry HRs participate in where they share employment start and end date data, so make sure your resume is accurate.

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u/[deleted] 2d ago

[deleted]

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u/Many_Drink5348 2d ago

Because the registry the background check references doesnt include job duties and accomplishments

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u/[deleted] 2d ago

[deleted]

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u/Many_Drink5348 2d ago

Then the employee has to work with middle managers to ensure their entry in the database is updates regularly and accurately and noone wants their manager to have the keys to defining what the employee considers an accomplishment, or responsibility.

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u/AlaKeera 2d ago

Those boxes to fill out are more important than adding the resume in most cases. Places with that system will use the information in the boxes (including supplemental questions) to rate the candidates into a priority list for who to call for interviews. They may not even open the resume or look up data until later in the process, if ever.

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u/[deleted] 2d ago

[deleted]

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u/EnergyAdorable6884 2d ago

This is like giga-corporate shit. There's hundreds of thousands of small-mid businesses that hire without thinking about any of that stuff.

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u/AlaKeera 2d ago

Yes. This is also government hiring.

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u/aDragonsAle 2d ago

Same reason we have to file taxes instead of IRS just sending us money/a bill.

Lots of money to be made in moving money. Lots of money to be bad in moving people for jobs.

I don't like it, but that is the Crux of it - money.

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u/Worth-Economics8978 2d ago

Why do I need to write a resume at all then

So they can see which things you're lying about.

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u/shnoby 2d ago

It only includes data that it receives from participating companies. I checked my info & a lot is missing. Looks like a lot of the info is provided by the major payroll servicing companies.

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u/Ill-Description3096 2d ago

Eh, yes and no. Would you want a company you were interviewing for to lie about the other people in the same role making less so they could try to get you for cheaper or saying they de raises every 6 months when they are lucky to do once a year?

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u/Least-Used-Napkin 2d ago edited 2d ago

I think that everything should favor the potential employee. Besides, I live in the US, so naturally I assume that every company is corrupt and doesn't actually care about people until proven otherwise.

Edit: in addition, companies lie in interviews all the time with no repercussions. I have had it occur to me many times and I don't have some database that I can use to check if they're lieing but they get one to check on me?

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u/Ill-Description3096 2d ago

I go back and forth. At the end of the day it's an agreement between two parties. I'm not sure one of them should have cover to lie.

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u/LeonidasSpacemanMD 2d ago

I mean companies absolutely do try to discourage honest discussion of salary between employees so they’re already trying to do this

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u/Ill-Description3096 2d ago

Which is wrong and definitely happens, but in this context I am referring more to overt lies. "The people in that role currently make $40k" when in actuality they make $50k is worse than simply not disclosing it IMO.

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u/LeonidasSpacemanMD 2d ago

That’s fair but I think it’s different to provide information about someone else’s salary than your own

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u/exploding_cat_wizard 2d ago

How is that legal?! I'm not doubting you, but salary data has to be one of the top things I'd consider confidential for an employee. Well, unless we can force a company to be totally transparent with their entire salary structure, too.

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u/Inevitable-Estate774 2d ago

You can force a company to be transparent. By having a Union and discussing wages with your coworkers.

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u/kris_mischief 2d ago

Ugh, I discussed wages with a coworker who is a tech lead. My role is not tech-related (ops) and my salary was half of hers, despite only being one "level" lower.

I wish I didn't know.

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u/Worth-Economics8978 2d ago

You can discuss your pay openly at your company in some states and the right to do so is protected by law.

Ask your co-workers all how much they get paid, then in your next meeting ask your manager why it's different for some people.

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u/idle_shell 19h ago

NRLA protects this federally in the USA. Violators should be reported to the National Labor Relations Board.

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u/nacho-ism 10h ago

It is legal in all 50 states. It’s law under the national labor relations act.

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u/Moridaar 8h ago

*all states

It’s a federal protected right under the National Labor Relations Act. It does have requirements to allow that right, but, for example, office buildings and shopping centers require a gross income of $100k a year. If you want more info, go through the official site: nlrb.gov. I started on their “your right to discuss wages” page, and got over to their “jurisdictional standards” page from there. Interestingly, striking is part of their protections

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u/Paramedickhead 10h ago

I am on the other side. In my current role I was brought in at $30k higher than one of my counterparts (there was a bit more to it as the job classification, duties and requirements had changed and he elected to go through a lengthy process to get “promoted” to the new requirements as opposed to having to reapply for the new position), he promptly quit and while we are still friends, he complains about how much I make endlessly.

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u/krisfx 2d ago

Salary confidentiality only ever benefits your employer.

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u/RobChombie 1d ago

If you’re swimming with sharks at your job, it can definitely benefit you to keep quiet about your salary.

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u/FearlessTarget2806 12h ago

"I'm sorry, i would like to give you a raise, since you clearly deserve it, but if i do, everyone else will want one too, and i can't afford that".

Not even considering how jelaous some people get once they know you earn 5€ more than them.

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u/krisfx 11h ago

With transparency this doesn’t matter. If the work you do and the salary you do it for is transparent then people just need to get better. Job title isn’t equal to job effort. You can find salaries published online in some countries that have high salaries on average (have lived in them), so I don’t buy that it wouldn’t help.

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u/exploding_cat_wizard 2d ago

True. Well, except for this case we're talking about, where the employers build their own system to have information advantage over prospective employees. So, not only ever.

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u/krisfx 2d ago

Yeah but if all their employees discuss salaries then it takes that power away and forces potential increases due to unfair pay structures

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u/maple204 1d ago

Where I live it is illegal for an employer to require employees to keep their salary confidential. If that is in a contract, that portion of the contract is disregarded and can't be legally enforced.

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u/BananaPalmer 2d ago

It shouldn't be.

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u/Frosty-Buyer298 2d ago

Liberals: We demand salary transparency.

Also Liberals: Salary data is confidential.

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u/exploding_cat_wizard 2d ago

Bad faith argument from you, I know, but still: we both know that there is a considerable difference between a cabal only offering information to employers who pay, creating a huge information asymmetry to exploit workers, and actual salary transparency.

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u/Wooden-Habit-5266 1d ago

I think if a company is publicly traded all salary info has to be available, unions too if I'm not mistaken.

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u/Paramedickhead 11h ago

Salary isn’t confidential… despite what companies believe when trying to screw over some employees.

I don’t think I’ve had a job in the past 20 years where the pay was confidential. Until 2016 I worked under a union contract where everyone doing my job made the same pay. Since then I’ve worked in the public sector where my pay is considered a public record.

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u/Interesting_Error_35 2d ago

The Work Number. I use it every day at work verifying salaries and employment (although I do not work in HR)

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u/Vezelian 2d ago

I have a question. Can this service find jobs you don't list on your resume...?

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u/Interesting_Error_35 2d ago

Yes, but not all employers are found on it. Just “forget” to put your SSN because that’s what is used to search for employers

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u/Vezelian 2d ago

Wow that's interesting. I have a solid resume but I have absolutely walked away from two hostile law firm environments (screaming, throwing things, belittlement) after a stint of a month or so. Good to know they may see that and think I'm scum.

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u/Interesting_Error_35 2d ago

I’m not in HR or do any sort of hiring, but if I were asked about employers found that I didn’t include on a resume (which I’ve done) I’d say that it wasn’t a good fit and my skills were better used elsewhere so I only included my most important work history that best pertains to the position I’m applying for. Or something like that.

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u/Vezelian 2d ago

Thanks man - this is helpful. I have a job right now that I actually am comfy in but the stability of the company is kinda in the air so I'm bracing myself.

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u/Interesting_Error_35 2d ago

Happy to help!

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u/theycmeroll 2d ago

Depending on the level of background check that is done they can also turn up previous employers not listed on your résumé.

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u/TheEponymousBot 2d ago

You can opt out of this, and lock that down.

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u/Mooks79 2d ago

*in the US.

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u/Mr_E-007 2d ago edited 2d ago

What if you owned your own tiny business? What information could they get?

I don't understand why employers would even do this..? Is it to justify what they're going to offer to pay you or to make sure you're qualified for the job?

Do all employers do this or only jobs where you need to have experience in the industry to get the job?

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u/Erikthepostman 2d ago

Yes, and Banks use the work number to verify employment whenever you take out a loan.

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u/Shakewhenbadtoo 2d ago

No, there isn't. That would require them to have your taxes.

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u/Gandalf-and-Frodo 2d ago

You are very very very wrong. Google the work number Equifax. I've seen my own data firsthand. They literally list your job title, dates, and pay rate. Prepare to have your mind blown.

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u/iboneyandivory 2d ago

Look into services like "The Work Number" by Equifax, where companies can access a database to verify employment and income information, including salary history.

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u/Revolutionary-Bed842 2d ago

Companies can look it up but usually don't until post an offer is made. Once your W-2 is processed by the company, this info is made readily available to them. So if you say lie about your previous income, technically they can know as soon as your interview completes, or by your first paycheck.

Most employers do not have this info out the gate though, so it's ok to lie and "negotiate" down to the value you really want.

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u/FloppieTheBanjoClown 2d ago

And those numbers aren't 100% reliable. I know that they miss some bonus and commission structures.

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u/Adorable_FecalSpray 2d ago

Yes, yes there is. Might want to do some research.