Earlier quoted context omitted.
>All while the world's elites have doubled or tripled their fortunes Who and how?
https://www.cnbc.com/2022/01/19/worlds-billionaires-made-5-t...
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The Great Resignation? More Like the Great Renegotiation
201–210 of 520 posts
Re: The Great Resignation? More Like the Great Renegotiation
#202Earlier quoted context omitted.
It's a clear signal, the company values you less than when it hired you. When leaving a company like that I find it best to frame it in a way that they were unhappy with you. "Hey look I know you are trying to spare my feelings, but that is 6 percent less than inflation, clearly you want me out of here but didn't have the courage to lay me off. Thanks for the heads up, I've found another role."
It really seems like you are most valued the day you are hired, with your value declining by the day.
That's how it feels to me.
Re: The Great Resignation? More Like the Great Renegotiation
#203"Yet, despite all the quitting and renegotiating, the real wage for the average American worker — meaning the true value of their paycheck after taking into account inflation — fell by 2.4% in 2021." All while the world's elites have doubled or tripled their fortunes. Great Robbery would be a more apt name than Great Resignation.
My understanding is that the bottom of the wage scale have seen the biggest gains, in real terms ( https://fortune.com/2021/12/10/inflation-wages-low-income-wo... ). Its the middle and upper middle class that are being made (a little) poorer by inflation. A fine trade-off imo. And given the asymmetry of the risks policy makers faced (great depression vs higher than average inflation), they wisely went with the risk o…
Wage gains are not being treated the same as investment gains. It's not like Bezos is taking home an hourly rate. Everybody at the real top is doing quite, quite well.
That's why the concentration of wealth into a very few hands at the top marches on, not because of "wages".
Re: The Great Resignation? More Like the Great Renegotiation
#204Earlier quoted context omitted.
It really seems like you are most valued the day you are hired, with your value declining by the day.
So in order for us to keep our value, we'd better switch as often as possible, I guess. As long as companies aren't giving reasonable raises, at least.
Isn't that basically how tech careers work? We switch as often as vesting or the willingness of better companies to take us allows.
Re: The Great Resignation? More Like the Great Renegotiation
#205"Yet, despite all the quitting and renegotiating, the real wage for the average American worker — meaning the true value of their paycheck after taking into account inflation — fell by 2.4% in 2021." All while the world's elites have doubled or tripled their fortunes. Great Robbery would be a more apt name than Great Resignation.
>All while the world's elites have doubled or tripled their fortunes Who and how?
It's not an US specific issue. Central banks all over the world have been pumping money ("printing") into the financial market during the pandemic. This has lead to massive bonuses, large income increases at the top of companies, while buying up their own stock. Some countries (like the US) have also made tax giveaways.
Not that these things don't happen regardless but artificially inflated capital (AKA debt) perpetuates the issue.
Maybe we should realize that increasing debt via banks and financial products is not good in of itself. Especially when we contrast it with investing in technology and workers.
Re: The Great Resignation? More Like the Great Renegotiation
#206It feels fundamentally wrong that my employer cares at all about where I live when determining my 100% remote salary. Can anyone offer me rational arguments for why they shouldn’t just pay people based on what they offer the job rather than where they choose to live? Because it makes me salty to be paid half of what a colleague does because I’m in rural Canada and not San Francisco.
> why they shouldn’t just pay people based on what they offer the job rather than where they choose to live?
Your salary is determined by what a competitor would offer you. Nothing else, forget about your output, adding value, increasing profits, your cost of living, or whatever.
When you are in SF and most importantly, are willing to physically into the office, then there can be only so many available workers. This means high competition from companies for workers.
When you are remote, there may be many more available workers, so less competition from companies.
Naturally, companies / managers try to bend the negotiation in their favor by trying to convince you that your cost of living is lower (happened to me). My advice is to shut this argument down immediately, be willing to get up and leave (for one of the many other real companies willing to hire you).
IMHO it's OK to get a different salary when not in a big city, after all, both sides play the negotiation game. You get access to a bigger pool of companies too, you just have to share it with more workers (probably). On a society-level it's absurd that a SF dweller gets a million dollar mortgage subsidy, and you in rural Canada get (let's say) a 100k mortgage only - for the same productive output. All while crying about city/countryside inequality.
Re: The Great Resignation? More Like the Great Renegotiation
#207> But there are growing fears of a wage-price spiral in which workers, seeing rising prices, demand higher pay — and companies, having to pay their workers more, start charging higher prices. These higher prices lead workers to demand even higher pay, leading companies to charge higher prices, and so on. It's the inflationary cycle of nightmares.
Can someone explain to me how this works? I'd assume wages to prices are a bit asymmetric. E.g., McD's sells 100 burgers per employee per hour at $2 each. It raises wages from $10 to $15/hour. To keep margin, it now needs to charge $2.05 - which is an increase, sure, but asymmetric: a 50% increase in wages implies a 2.5% increase in prices.
Assuming that occurs everywhere - why do workers need to now demand still-higher pay?
Re: The Great Resignation? More Like the Great Renegotiation
#208Earlier quoted context omitted.
IMHO quite generous by them, in my former companies you skipped the raise talk if you joined less than 9 months ago. Makes sense, because you just negotiated your salary on entry.
> Makes sense, because you just negotiated your salary on entry. Not really, as in this field that is about halfway through your tenure. Market has certainly shifted a lot in 9 months past.
18 month tenure seems short, even for IT employees. Better off just staffing with contractors if that's truly expected.
Re: The Great Resignation? More Like the Great Renegotiation
#209Earlier quoted context omitted.
>All while the world's elites have doubled or tripled their fortunes Who and how?
It's no small secret that the world's billionaires saw >50% increase in wealth during the pandemic. https://www.reuters.com/business/pandemic-boosts-super-rich-...
This is very misleading. They took a massive cut in early 2020, so a lot of that is just recovery.
Re: The Great Resignation? More Like the Great Renegotiation
#210"Yet, despite all the quitting and renegotiating, the real wage for the average American worker — meaning the true value of their paycheck after taking into account inflation — fell by 2.4% in 2021." All while the world's elites have doubled or tripled their fortunes. Great Robbery would be a more apt name than Great Resignation.
While I hope that this redistribution of wealth can be reverted, reversed or something else, I don't think this is robbery.
My concern with this is primarily because people in Germany (not that many) believe that the pandemic is controlled by big pharma, big tech and by the 'elite' (great reset) and I think it's just much simpler described somehow else than the control of rich people.