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.
Are you going to increase wages to compensate? Otherwise, fuck off with this shit.
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.