Article brought to you by Sleeping Beauty. It took "ft" 6 years to notice.
IMHO it's around 4 years: inflation surge in late 2021/22 and following years was not matched by salaries but 2020 was not yet that bad.
Real wages start to shrink in developed countries
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Re: Real wages start to shrink in developed countries
#12I visited the Balkans recently. One thing that is very clear to me as a n American is that the rest of the world is catching up. English taught at a young age, internet access is easier than ever and in aome cases superior to US options. Like it or not, people from the developed countries are competing much more on the world stage than they realize. For companies, why pay 2x the price of a developer in the US when they can find good talent elsewhere? I'd love to leave the US and geo-arbitrage while I still can, I'm on a slowly sinking ship.
Re: Real wages start to shrink in developed countries
#13Start to?
It's like Gartner is predicting the PC markt to go belly up for almost 10 years now, except that now the market IS going belly up - and they are still pretty conservative in their predictions.
And PC market is not going belly up for any reason they predicted. But because price are sky rocketing on two key components due to external pressure. And one of the players mostly stopped caring.
I believe it would spring back once prices return to where they were or only slightly higher...
Re: Real wages start to shrink in developed countries
#14I visited the Balkans recently. One thing that is very clear to me as a n American is that the rest of the world is catching up. English taught at a young age, internet access is easier than ever and in aome cases superior to US options. Like it or not, people from the developed countries are competing much more on the world stage than they realize. For companies, why pay 2x the price of a developer in the US when th…
Human output is not money go in production come out. This is tired. Companies continue to headquarter in the most expensive cities in the world. Surely they would all REMOTE TO THE BALKANS by now if it were actually a viable option
Re: Real wages start to shrink in developed countries
#15The general news are monothematic especially in countries where assholes or dictators took over. The fact is in terms of economy and employment we've been in a massive crisis for maybe 3 years now. Have we hit the bottom yet?
Re: Real wages start to shrink in developed countries
#16My "strong" performance rating got me a raise less than the inflation rate this year in the US. I guess I am not using enough tokens to justify a bigger raise.
Re: Real wages start to shrink in developed countries
#17I visited the Balkans recently. One thing that is very clear to me as a n American is that the rest of the world is catching up. English taught at a young age, internet access is easier than ever and in aome cases superior to US options. Like it or not, people from the developed countries are competing much more on the world stage than they realize. For companies, why pay 2x the price of a developer in the US when th…
Human output is not money go in production come out. This is tired. Companies continue to headquarter in the most expensive cities in the world. Surely they would all REMOTE TO THE BALKANS by now if it were actually a viable option
Good talent is still hard to find so that's not going to happen for large companies, but lots of startups are going in that direction.
Re: Real wages start to shrink in developed countries
#18I visited the Balkans recently. One thing that is very clear to me as a n American is that the rest of the world is catching up. English taught at a young age, internet access is easier than ever and in aome cases superior to US options. Like it or not, people from the developed countries are competing much more on the world stage than they realize. For companies, why pay 2x the price of a developer in the US when th…
Human output is not money go in production come out. This is tired. Companies continue to headquarter in the most expensive cities in the world. Surely they would all REMOTE TO THE BALKANS by now if it were actually a viable option
Because it's casino like setup. Where management buys real estate in a city and headquarter their. Major chunk of employees wages end up right into the pockets of Executives through wages
On paper you get employees who are paid very high but large amount of that money goes right back into pocket of rich wealthy people who control the companies
Re: Real wages start to shrink in developed countries
#19Isn't this globalization working as designed? People in "rich" countries will get less and less while people in "poor" countries will get more and more until there are no more rich or poor countries. Rich and poor people will still exist, but the standard of living will regress to the mean worldwide.
Re: Real wages start to shrink in developed countries
#20Article brought to you by Sleeping Beauty. It took "ft" 6 years to notice.
IMHO it's around 4 years: inflation surge in late 2021/22 and following years was not matched by salaries but 2020 was not yet that bad.
Oddly enough that's when tech companies starting raking in truly massive gains.