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Employers use your personal data to figure out the lowest salary you'll accept

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Re: Employers use your personal data to figure out the lowest salary you'll accept

#191

Post by jrexilius »

fred_is_fred wrote: post #165
alexpotato wrote: post #164

Many years ago, back when companies could ask for your previous compensation [0], a hiring manager once said to me "don't ever lie about your past compensation". I wasn't sure how they could figure this out at the time until someone later pointed out that many corporations do a credit history check on you as part of the background check. This gives them access to past compensation. The information asymmetry here is,…

I don’t recall ever seeing a salary in my credit report. Certainly when applying for credit cards you are asked but generally they have you include all sources of income including bonus, passive income, and alimony. There are data sources for this info but I don’t think it’s technically a credit report.

If I remember correctly, ADP and the other big payroll processors sell your income data, as do many of the finance apps that get access to your bank account data. They also have your rent and mortgage payments typically. It's not always a line item in your official credit report, but the data leaks (and is sold) everywhere. Probably the more correct phrasing would be "in your financial target data profile as sold by [credit agencies, et al]"?

Re: Employers use your personal data to figure out the lowest salary you'll accept

#192

Post by alsetmusic »

mrbluecoat wrote: post #189

Also: "Potential employees of employers use public data to figure out the highest salary they'll offer"

> Also: "Potential employees of employers use public data to figure out the highest salary they'll offer"

What sort of both-sides nonsense is this? The power imbalance is the reason this is noteworthy. They aren't the same.

Re: Employers use your personal data to figure out the lowest salary you'll accept

#193

Post by ilikecakeandpie »

shrubby wrote: post #98
Unbeliever69 wrote: post #55

Earlier quoted context omitted.

Probably not the answer you want to here but I'll share my perspective. Three years ago my wife and I sat down and optimized our finances so I could soft-retire and focus on a few of my life goals while simultaneously working on ways to generate income without the stress of being in the employ of others. It was tough work which mainly involved paying down a lot of debt so we can live more lean. We did a lot of optimi…

Wonder what you'd do with your passion in a just world where everything of creativity (okay almost) would not need to be turned into a income. I feel this fucking form of slavery as well hard. How sorry can life be?

> I feel this fucking form of slavery as well hard

I think you'd do well to learn more about how slaves were treated before making these comparisons. Have you been whipped until your flesh opened and had salt, lime juice, and peppers rubbed in the wounds because you messed up at work, where you are also forced to lived?

https://en.wikipedia.org/wiki/Thomas_Thistlewood#Treatment_o...

Re: Employers use your personal data to figure out the lowest salary you'll accept

#194

Post by xyzelement »

alsetmusic wrote: post #192
mrbluecoat wrote: post #189

Also: "Potential employees of employers use public data to figure out the highest salary they'll offer"

> Also: "Potential employees of employers use public data to figure out the highest salary they'll offer" What sort of both-sides nonsense is this? The power imbalance is the reason this is noteworthy. They aren't the same.

I think we are done with the "power imbalance" lens on everything.

What I want in comp is a mixture of what I know you can pay and what I can get elsewhere.

What you want to pay is a mixture of what you think I'll be ok with and what you can get someone "just as good" for.

It takes two to tango.

Re: Employers use your personal data to figure out the lowest salary you'll accept

#195

Post by gsibble »

Why don't companies realize the more you pay a highly skilled worker, the more you get out of them?

Tech companies seem to get it but so few others do, including startups.

I usually have 1/3rd the staff I'd normally need but I hire top tier people at 2x what most startups pay. In the end I save money.

Re: Employers use your personal data to figure out the lowest salary you'll accept

#196

Post by MichaelRo »

Gareth321 wrote: post #121
shrubby wrote: post #98

Earlier quoted context omitted.

Wonder what you'd do with your passion in a just world where everything of creativity (okay almost) would not need to be turned into a income. I feel this fucking form of slavery as well hard. How sorry can life be?

We live in a world where someone has to clean the sewers, unblock toilets, maintain electricity lines in snow storms, weld deep underwater, clean, wipe the butts of old people, and 10,000 other thankless, tiring, and dangerous jobs which no one in their right mind would ever do because they found it fun and interesting. Until we have very highly capable robots to do these jobs, we need some way to incentivise doing w…

>> We live in a world where someone has to clean the sewers, unblock toilets, maintain electricity lines in snow storms, weld deep underwater, clean, wipe the butts of old people, and 10,000 other thankless, tiring, and dangerous jobs which no one in their right mind would ever do because they found it fun and interesting.

>> I do think AI and robotics will usher in a much more abundant world in the future. It's unclear how we navigate that - economically, politically, socially.

Delusional optimism. If AI and robotics take over, the only effect will be another wave of layoffs and unemployed, not even the willingness to unblock toilets or wipe butts will save you from homelessness and destitution. We're already on the way to Victorian era poverty, if robots take the shit jobs too, we're back to Oliver Twist: please sir, can I have some more ... tokens?

Re: Employers use your personal data to figure out the lowest salary you'll accept

#197

Post by alexpotato »

jakevoytko wrote: post #190
alexpotato wrote: post #164

Many years ago, back when companies could ask for your previous compensation [0], a hiring manager once said to me "don't ever lie about your past compensation". I wasn't sure how they could figure this out at the time until someone later pointed out that many corporations do a credit history check on you as part of the background check. This gives them access to past compensation. The information asymmetry here is,…

An old neighbor of mine was a headhunter. He once told me that some companies had a trick to get around the law. Upon getting hired, you'd sign a document saying that you'd agree to all policies in the employee handbook. Pretty standard stuff. One of the company policies was that you needed to prove any previous salary you stated in the negotiation. If it was too far off, they'd just terminate you. The trick is that…

> The trick is that they didn't ask at all during the hiring process; you're already hired and onboarded and then HR puts a meeting on your calendar to explain the policy to you.

Yeah, "all bets are off" once you are a FTE.

Re: Employers use your personal data to figure out the lowest salary you'll accept

#198

Post by ozgrakkurt »

This is a very complex problem as far as I can understand.

You will be in trouble if that person left their last job because they were unhappy about pay or if the value you are giving is lower than some other company is willing to pay.

They will leave pretty soon in both cases.

Or even worse, they might be in a hurry to find a job for some reason, then they will accept but see the job as temporary.

Would be interesting to know how this actually effects job market.

As far as I know there are websites for employees to declare how much their employers are paying them. Also would be interesting to know how that actually effects job market.

I didn't see this before but would be cool to have a website to see how much money people around me are paying for rent too.

Re: Employers use your personal data to figure out the lowest salary you'll accept

#199

Post by alexpotato »

endymi0n wrote: post #182
alexpotato wrote: post #164

Many years ago, back when companies could ask for your previous compensation [0], a hiring manager once said to me "don't ever lie about your past compensation". I wasn't sure how they could figure this out at the time until someone later pointed out that many corporations do a credit history check on you as part of the background check. This gives them access to past compensation. The information asymmetry here is,…

"don't ever lie about your past compensation" — because they can't figure it out on their own and IF they do (at least in my jurisdiction), you've got a nice case on your hands to sue them for violating privacy laws. The correct answer is: ALWAYS lie about your past compensation. It's the only way to get forward, one way or the other.

This is one of those strategies that may be "correct" in the sense that it works once or twice, but isn't a great long term strategy.

e.g. let's say you sue and then win: that's now in the public record (which any new hiring company can see).

Re: Employers use your personal data to figure out the lowest salary you'll accept

#200

Post by exitb »

lesuorac wrote: post #168
exitb wrote: post #151

Earlier quoted context omitted.

It’s a very common arrangement, both with and without kids, once you look past the gender of particular participants.

It's very common for a teacher's salary to pay the expenses of two adults and 2+ kids? I guess it must be nice not living in high col areas.

Given paid off debts and frugal lifestyle (as mentioned by the OP), why not? No one keeps anyone hostage in the high CoL areas.
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