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.
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.