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Worker pay isn’t keeping up with inflation

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Re: Worker pay isn’t keeping up with inflation

#111

Post by TheGigaChad »

onion2k wrote: post #67
AnthonyMouse wrote: post #54

Earlier quoted context omitted.

> If you want a raise the best thing you can do is find a new job. Note that this doesn't always even involve taking it. Go get a job offer that pays better and bring it to your boss. If they want to match it, great. If they don't, bye.

From the other side, whenever a member of my team has come to me asking to match an offer I've always refused and wished them well in their new role. If someone is unhappy enough to start job hunting rather than talking to me then it's a clear sign that they'll leave soon regardless of any pay rise. Psychologically, every pay increase makes someone happy for a short time, and then they get used to it and they start t…

Idiot.

Re: Worker pay isn’t keeping up with inflation

#112

Post by JanisL »

onion2k wrote: post #67
AnthonyMouse wrote: post #54

Earlier quoted context omitted.

> If you want a raise the best thing you can do is find a new job. Note that this doesn't always even involve taking it. Go get a job offer that pays better and bring it to your boss. If they want to match it, great. If they don't, bye.

From the other side, whenever a member of my team has come to me asking to match an offer I've always refused and wished them well in their new role. If someone is unhappy enough to start job hunting rather than talking to me then it's a clear sign that they'll leave soon regardless of any pay rise. Psychologically, every pay increase makes someone happy for a short time, and then they get used to it and they start t…

In a heavily inflationary environment this practice could turn out to be entirely maladaptive. What percentage of inflation year on year will you change your mind at? Do you even have a line?

Re: Worker pay isn’t keeping up with inflation

#113

Post by moksly »

onion2k wrote: post #67
AnthonyMouse wrote: post #54

Earlier quoted context omitted.

> If you want a raise the best thing you can do is find a new job. Note that this doesn't always even involve taking it. Go get a job offer that pays better and bring it to your boss. If they want to match it, great. If they don't, bye.

From the other side, whenever a member of my team has come to me asking to match an offer I've always refused and wished them well in their new role. If someone is unhappy enough to start job hunting rather than talking to me then it's a clear sign that they'll leave soon regardless of any pay rise. Psychologically, every pay increase makes someone happy for a short time, and then they get used to it and they start t…

I’m not sure why this is getting so much negative attention. I’ve been both in and around high level management in the Danish public sector for decades and I’ve never matched or sparred with another manager who would these sort of things.

No one, and I do mean no one, is irreplaceable. Maybe you’ll have to throw away an entire IT system because you’ve lost the know how to keep the business case for the system a net positive, but that means a lot less to an organisation (especially enterprise) that we tend to fool ourselves into believing myself included.

Re: Worker pay isn’t keeping up with inflation

#114

Post by FpUser »

onion2k wrote: post #67
AnthonyMouse wrote: post #54

Earlier quoted context omitted.

> If you want a raise the best thing you can do is find a new job. Note that this doesn't always even involve taking it. Go get a job offer that pays better and bring it to your boss. If they want to match it, great. If they don't, bye.

From the other side, whenever a member of my team has come to me asking to match an offer I've always refused and wished them well in their new role. If someone is unhappy enough to start job hunting rather than talking to me then it's a clear sign that they'll leave soon regardless of any pay rise. Psychologically, every pay increase makes someone happy for a short time, and then they get used to it and they start t…

>"If someone is unhappy enough to start job hunting rather than talking to me then it's a clear sign that they'll leave soon regardless of any pay rise."

Long time ago when I was employed I liked my job but felt that I am being paid less than what I could get. So I went searching and after a while got a really nice offer. With that offer I came to the company owner and ask him to give me a reason why should not I take the offer. He did give me a reason - matched the offer and put bonus on top. The end result - I stayed. Well until I went on my own and never looked back.

Re: Worker pay isn’t keeping up with inflation

#115

Post by ardacinar »

mathgladiator wrote: post #5
MilnerRoute wrote: post #2

Sometimes I wonder if the word inflation has two meanings. There's what we typically mean by the word -- a lingering phenomenon which feeds on itself. And then there's the short-term "situational" thing which lasts X number of months. I think part of the problem is we're using the same word to describe two different things... "Russell Price, chief economist at Ameriprise, expects inflation to peak at 7.1% in December…

When we talk about inflation peaking at 7.1%, is that over the prior December? So, y/y or is this m/m?

It is y/y (comparing Nov 2021 to Nov 2020). m/m 7% inflation is generally something more catastrophic.

Re: Worker pay isn’t keeping up with inflation

#116

Post by vlunkr »

silisili wrote: post #58

As someone who does OK, but lives in reality (not the bay area), I feel a revolution coming. I hope it's not a violent one, but who knows at this point. Hopefully it's just a politician with big policy changes. People feel completely disenfranchised. You keep hanging housing over their head but just out of reach like some baby toy, then inflation spikes everything else. What's the point of working even? I don't know…

I don't know, if you hang out in certain parts of the internet, it feels like a revolution is coming, but it reality Bernie still can't win the primaries, so I don't think the numbers are actually there. But I also won't be surprised if the next generation of voters is more socialist-leaning.

Re: Worker pay isn’t keeping up with inflation

#117

Post by gibbonsrcool »

landemva wrote: post #76
baron816 wrote: post #18

This isn’t exactly great news, but it’s probably not as bad as you think. It means that inflation is a tractable problem. The Fed as a lot of tools at its disposal (first of which is to take its foot off the gas). If we were in a situation where workers were demanding higher wages because they were expecting prices to go up, and businesses were raising prices to pay workers who were demanding higher wages, then we’d…

'The Fed as a lot of tools at its disposal...' Average and poor Americans would be better off with a simple formula to set money expansion. Then fire the private 'Federal Reserve' banksters and let someone else have the contract to clear checks. It is long past time to end the 3rd central bank.

Except for their role as referee. Forcing banks to implement their real time payments system FedNow seems like a good thing, but I’m just learning about it.

Re: Worker pay isn’t keeping up with inflation

#118

Post by JimBlackwood »

onion2k wrote: post #67
AnthonyMouse wrote: post #54

Earlier quoted context omitted.

> If you want a raise the best thing you can do is find a new job. Note that this doesn't always even involve taking it. Go get a job offer that pays better and bring it to your boss. If they want to match it, great. If they don't, bye.

From the other side, whenever a member of my team has come to me asking to match an offer I've always refused and wished them well in their new role. If someone is unhappy enough to start job hunting rather than talking to me then it's a clear sign that they'll leave soon regardless of any pay rise. Psychologically, every pay increase makes someone happy for a short time, and then they get used to it and they start t…

Look at it from this point of view; if your employer is so unhappy with you that, even when you’ve shown your skill, he’s unwilling to pay you a competitive amount then it’s clear you don’t really have a future at your current job.

A new company is willing to risk it on you, while paying more than your current job where you have experience. No surprise they leave in a year anyway.

Re: Worker pay isn’t keeping up with inflation

#119

Post by adflux »

laurent92 wrote: post #91
wing-_-nuts wrote: post #20

We had an all-hands meeting recently where we got to submit anonymous questions. One of the questions was 'with inflation rising at 6%, will the company reconsider their 'standard' 2% raise?' The lady answering looks dead in the camera and goes 'Honestly? No' and goes on to talk about how we're reasonably competitive with the local market. Hey, credit where credit is due, at least she was a refreshingly straight shoo…

The principle of inflation is to dynamically adjust: - Available products in the world, - Number of people who can afford them. With Covid, we didn’t produce for 2 months in 2020 and we’ve produced slower in 2021. And all governments distributed free money. So, in theory there is clearly not enough goods produced for everyone in the world. Prices should rise dynamically until 10% fewer people can afford them than in…

Global consumption expressed in...? That currency which inflated

Re: Worker pay isn’t keeping up with inflation

#120

Post by turbinerneiter »

silisili wrote: post #58

As someone who does OK, but lives in reality (not the bay area), I feel a revolution coming. I hope it's not a violent one, but who knows at this point. Hopefully it's just a politician with big policy changes. People feel completely disenfranchised. You keep hanging housing over their head but just out of reach like some baby toy, then inflation spikes everything else. What's the point of working even? I don't know…

This year, the price of the type of place I want to buy rose so fast, that the downpayment increased by more than what I could save this year. I'm top 30% income bracket and save more then a third of my net.
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