I don't have a ready link but the economics literature pretty consistently finds that compensation transparency compresses wage ranges but also reduces the median wage. This would seem to indicate that it makes the majority of people worse off.

The other issue is that the majority of people think they generate more value than they actually do. This is the "almost everyone believes they are above average" phenomenon that consistently shows up across a diverse range of domains. People are usually happier when such beliefs are not publicly challenged on a regular basis.