Wage Raises almost always lag behind inflation because inflation is market-leading, whereas wage earnings are negotiated and usually in response to said inflation rise.
This is exactly why they tell you to get a promotion or find a new job to earn a higher wage to beat inflation. Anyone who stayed at their current position without promotions or without changing jobs for years will never beat inflation.
Yup, I actually used the inflation argument in my salary negotiation.
It didn't work.
Then an executive and 3 other people quit because of low pay.
I'm gonna try it again later ; )
I literally said, "Hey, entry level for this job at another company is $20/hr by the end of the year." Next it's going to be, "Hey, not only is what I said previously still true, Amazon is paying $22 /hr entry level."
I'm not terribly interesting in quitting at the moment because of the amount of upward mobility I have in the company now is far superior to anywhere else and I have good management (which is a fucking blessing on it's own). I'm using that opportunity to basically lateral move into a different part of the industry while working. So, I'll take the hit in pay for now.
I’ve generally found that even a great company environment couldn’t prevent me from switching jobs when inflation rose up. I got a 20% salary increase by just quitting in February of this year, and got another 5.7% salary increase in June again. Yeah, my resume doesn’t look great right now, but my skill set is in enough demand that my tenure is a non-issue.
My only concern is the speed of my upward mobility (which other companies couldn't have provided, even with pay increases), and I'm a bit concerned about the potential consequences of mass layoffs if an economic downturn takes place.
I don't want to be the first one out because I have the shortest time in the company. My higher pay won't mean shit if the labor shortage, which I doubt is even a real shortage and is just wages rising too slowly, turn around and becomes a labor surplus because entire industries are closing.
He basically just assumes that raises will rise faster than inflation for the next several decades.
Despite literally every shred of evidence that has pointed that the opposite has happened in the past 70 years.
Wage Raises almost always lag behind inflation because inflation is market-leading, whereas wage earnings are negotiated and usually in response to said inflation rise.
This is exactly why they tell you to get a promotion or find a new job to earn a higher wage to beat inflation. Anyone who stayed at their current position without promotions or without changing jobs for years will never beat inflation.
Yup, I actually used the inflation argument in my salary negotiation.
It didn't work.
Then an executive and 3 other people quit because of low pay.
I'm gonna try it again later ; )
I literally said, "Hey, entry level for this job at another company is $20/hr by the end of the year." Next it's going to be, "Hey, not only is what I said previously still true, Amazon is paying $22 /hr entry level."
I'm not terribly interesting in quitting at the moment because of the amount of upward mobility I have in the company now is far superior to anywhere else and I have good management (which is a fucking blessing on it's own). I'm using that opportunity to basically lateral move into a different part of the industry while working. So, I'll take the hit in pay for now.
I’ve generally found that even a great company environment couldn’t prevent me from switching jobs when inflation rose up. I got a 20% salary increase by just quitting in February of this year, and got another 5.7% salary increase in June again. Yeah, my resume doesn’t look great right now, but my skill set is in enough demand that my tenure is a non-issue.
My only concern is the speed of my upward mobility (which other companies couldn't have provided, even with pay increases), and I'm a bit concerned about the potential consequences of mass layoffs if an economic downturn takes place.
I don't want to be the first one out because I have the shortest time in the company. My higher pay won't mean shit if the labor shortage, which I doubt is even a real shortage and is just wages rising too slowly, turn around and becomes a labor surplus because entire industries are closing.
Evidence? In my socialist propaganda?