this post was submitted on 05 Jun 2024
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Work Reform
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A place to discuss positive changes that can make work more equitable, and to vent about current practices. We are NOT against work; we just want the fruits of our labor to be recognized better.
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- All workers must be paid a living wage for their labor.
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- Higher wages for underpaid workers.
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Clickbait.
Article is nearly 10 years old.
Article contains no studies or surveys showing this result.
The 50% figure is calculated by assuming a paltry annual raise and consistent large pay bumps by switching companies.
That being said, word is that in the tech industry at least, hiring budgets are clearly higher than promotion budgets and that moving every 2 years or so is clearly the best strategy for career advancement.
Just one industry, of course, but the pattern certainly seems to have settled in there, and it may not be a stretch to speculate it will spread to other industries perhaps under the shitty influence of AI.
it's a double edged sword in my experience from to talking to recruiters who seem to have an irrational hatred of "job hoppers" and they're, anecdotally, a majority.
however it is still true that you'll get higher pay as i did; but be sure to spend a LOT of time keeping your connections alive because most recruiters (still anecdotally) will red flag 2 & 3 year tenure-ships; effectively gate keeping you away from many jobs.
if it weren't for being in a relatively lucrative and in demand field (software development); i would be screwed because of those recruiters.
I've averaged about a 4 year tenure at my previous employers -- some a bit more, some a bit less -- but usually with a competing offer or two in that time period that I've used as a lever for a pay raise. Nobody's complained about me being a job-hopper or short-timer.
I have noticed that my two last employers, both large national firms, have moved towards a model of career-tracking with a defined pay structure, similar to government work where different positions and experience levels have a pay range attached to them and you're not able to negotiate out of that range. This has been framed as a protective move against wage inequality suits, but I suspect it's more about preventing employees from negotiating especially high compensation packages. I haven't had it cut against me yet -- in both cases I got a very minor pay bump when my employers actually went out and compared their pay scales to what the market was demanding -- but if enough employers start benchmarking against each other and using that to cap pay, it will functionally become like a wage-fixing cartel similar to what's happened to rent in the last 5-10 years.