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"The solution, then, is to pay the low-status workers a bit more than they are worth to get them to stay. The high-status workers, in contrast, accept lower pay for the benefit of their lofty positions."
The consequence of this is job title inflation.
https://www.economist.com/business/2022/12/08/the-scourge-of...
It's correct. Some people choose status over money. https://robkhenderson.substack.com/p/status-over-money-money... "The solution, then, is to pay the low-status workers a bit more than they are worth to get them to stay. The high-status workers, in contrast, accept lower pay for the benefit of their lofty positions." The consequence of this is job title inflation. https://www.economist.com/business/2022/12/08/the-sc…
I worked for a restaurant that did this to me. To make sure I hit the "minimum hours" (when you start talking about hours vs tasks or responsibilities you probably aren't getting into a legitimate salary arrangement) they would have me clock in and out, and I'd get pay stubs with 40 hours (less if I worked less) and the overtime hours paid at $0. They withheld my last paycheck when I quit and stopped responding to my…
the alternative is violence or unionization, neither of which are optimal in resolving disputes like these in a civilized and efficient manner.
Earlier quoted context omitted.
My coworkers and I used to joke that at banks, even cleaning staff get VP titles.
Banks hand out VP titles like candy so that the customers think they're hot stuff and being treated well.
Earlier quoted context omitted.
My coworkers and I used to joke that at banks, even cleaning staff get VP titles.
Banks hand out VP titles like candy so that the customers think they're hot stuff and being treated well.
edit: added quotation marks to just. I like being an IC.
Banks have been doing this for decades. If you're not a VP within 3 months some may wonder if something is wrong with you.
Unlimited time off is another gem they use.
Banks have been doing this for decades. If you're not a VP within 3 months some may wonder if something is wrong with you.
Banks aren't trying to stiff their traders out of overtime. They do it because a VP has certain signing power as an executive that regular employees don't.
have been through this many times and very HR department on the sell and buy side says the same thing.