To solve a mythical problem, employers now have one more restriction on hiring. Pretty soon the government will just select a person at random and order companies to provide him or her a job for life.
Massachusetts Bans Employers from Asking Applicants About Previous Pay
531–540 of 785 posts
Re: Massachusetts Bans Employers from Asking Applicants About Previous Pay
#532Earlier quoted context omitted.
If there exist jobs that produce $1MM in value but that have a going rate of 200k, then there should be more of those jobs This is true generally, but I think it doesn't apply in context. Tech has saturated the existing market, there is no demand to be satisfied for more tech. Of course, the industry will continue to grow, but only because the very nature of tech is to innovate. Growth in tech doesn't come from creat…
As long as not everyone has eg an iPhone, I see plenty of demand for tech left.
You are looking in the wrong places, then. Not everyone without an iPhone wants one - the demand you cite doesn't exist.
Re: Massachusetts Bans Employers from Asking Applicants About Previous Pay
#533Earlier quoted context omitted.
>If there exist jobs that produce $1MM in value but that have a going rate of 200k, then there should be more of those jobs: either the company doing the work should expand, or it should have competitors. How could you possibly determine how much value your efforts are producing? How much value are you assigning to the risk the founder and investors are taking? Maybe your $200k job is producing $200k in value. Or eve…
> How could you possibly determine how much value your efforts are producing? How much value are you assigning to the risk the founder and investors are taking? Maybe your $200k job is producing $200k in value. Or even less. I'm not disputing that there's difficulty, and that it might not always be possible (although we can often estimate and assign a confidence level). But the parent comment claimed that even if we…
Do you have quarterly goal setting reviews? People generally find that a formal process such as this will answer the questions you pose.
For example, you may discover that someone else got that promotion that you were eyeing, because they provided 15x value compared to you - 7 patents, 3 products architected that opened up new areas for growth, etc.
Re: Massachusetts Bans Employers from Asking Applicants About Previous Pay
#534Earlier quoted context omitted.
You can't create money by holding money. You create money by risking money. There's a huge difference between the two.
You create money by borrowing. You win money by risking money( ). You earn money by being useful in what you do. ) In Icelandic, "win" means "work".
This is pleasingly precise, but besides the point.
Re: Massachusetts Bans Employers from Asking Applicants About Previous Pay
#535I applied and soon after worked as an engineer for a large company that not only asked for my previous compensation but part of the application process involved my employer validating that I actually made what I told them. They worked with a third party to match my figures with W2 statements and/or pay stubs. It was really intrusive. Pay should equate to value, not some silly ladder climb
I'm sorry that you had to go through this. I agree that it's intrusive and really shouldn't be tolerated. A while ago, I was in the middle of the job interview process for a company. Having read some rudimentary background on salary negotiation, I was somewhat prepared for how to deflect the "how much are you making?" question. The next interview was a technical interview, so I wasn't too focused on this aspect of th…
It's really interesting this discussion, I don't go past the first initial discussion with a potential employer without understanding the salary range.
If they refuse to comment on that I assume it's low and head on elsewhere.
Re: Massachusetts Bans Employers from Asking Applicants About Previous Pay
#536Earlier quoted context omitted.
Holding money generates nothing, you have to at minimum risk it in a savings account or the index, or for real gains, playing roulette on a start-up.
Yes there is risk...but so much investment is made by those that can afford to risk it..that is the risk of losing the investment is not losing your home and car or being thrown to the street. If risk is defined by surplus money alone then yes, investors take risks, but if you define risk as the chance of losing your livelihood and basic needs? Typing on a keyboard entails more risk. When the poor takes an investment…
No, it's the money itself which is risked. Everything else is adjacent. How much the specific individual holding the money actually values it is irrelevant. It's how much that you value the money that's relevant.
What is $1,000 worth to you? Now, that question has a wide range of answers. In some places, that's literally worth multiple lives. Or it could be beyond insignificant.
Obviously very few can or should take a personal investment risk of 100% or more of their net worth.
Re: Massachusetts Bans Employers from Asking Applicants About Previous Pay
#537Earlier quoted context omitted.
Assuming that you can tolerate the commensurate risk, absolutely. Many people forget that the rank-and-file employee isn't exposed to the financial and legal risk that their employers were/are.
But they are exposed! In case of financial trouble (very common at startups), who gets to be laid off first, the CEO or the developer? Also, rank-and-file employees are typically scape-goated in legal proceedings, example: finance people going to jail for rogue/insider trading, even though upper management at least encouraged such behavior.
>> But they are exposed!
For their exposure, employees are compensated with salaries. Are you willing to pay your company money if the product you work on misses expectations?
Re: Massachusetts Bans Employers from Asking Applicants About Previous Pay
#538Earlier quoted context omitted.
I feel like my earlier comment has been misconstrued as "if your work generates $1MM in profit than it should be rewarded with $0.999MM in salary". That's not what I'm attempting to say at all. Assessing value is definitely more complex than that. Additionally, yeah, it's true, competitors might not be able to realize the same value in the same space. Competitive advantages exist. Spreads between value and salaries w…
The labor theory of value has been refuted. In a market economy, prices (including the price of labor, i.e. salaries) are set by supply and demand.
Labor theory of value claims that the value of X depends only on the amount of labor required to produce X. This theory doesn't explain how gold is more valuable than iron, or how $UNICORN is more valuable then this other startup. So it's a bad theory.
matthewowen's argument is not assuming the labor theory of value is true. It's just pointing out that, other things being equal, if the demand for X increases then the demand for X-makers' labor increases too; hence X-makers' wages increase.
Re: Massachusetts Bans Employers from Asking Applicants About Previous Pay
#539Earlier quoted context omitted.
I have experienced this as well. Quick story. Before I took this advice, I made the mistake of telling a recruiter my salary, and then the recruiter said, yeah I'm not going to give you a 20K raise. The guys on that team were great and the compensation was actually viable, but it was not a good fit overall. I think any negotiation where you want to walk away with the best deal you have to be willing to let a job go.…
If you don't mind my asking, if you "loved" two of the places you have worked why have you been through four employers in 4-1/2 years? I love my current employer, which is why I have stayed there 19 years.
One the contract ended. The other I'm still at.
Re: Massachusetts Bans Employers from Asking Applicants About Previous Pay
#540Earlier quoted context omitted.
Be careful. Recruiters (even 3rd party recruiters) work for the company. They don't work for you.
Third party recruiters work for themselves . Both sides in the transaction should remember that.
Yes, but their contract and fiduciary duty rests with the employer, not the candidate. They are paid by the company to find an employee, not the other way around.