Remember the Good old days of 10, 20, 30% pay rises every year

Discussion in 'Markets & Economies' started by Ipv6Ready, Aug 28, 2018.

  1. SlyGuy

    SlyGuy Active Member

    Joined:
    Sep 6, 2018
    Messages:
    251
    Likes Received:
    178
    Trophy Points:
    43
    Location:
    USA
    The original post is asking where those regular raises have gone, and that is your answer. Much like retirement, you are now on your own. You have to be your own advocate in nearly all industries nowadays. Back when I was an employee, the only times I was ever "offered" a raise was when I tactfully demanded one or when I informed management that I was moving on to another job.

    For better or worse, labor unions (and pensions) have largely disappeared and evolved into performance pay, and you now see pension replaced with 401k match as part of self-funded retirement. It had to be that way... the old ways of workers getting fat and happy and lazy were not sustainable in the local and international economy. Pension funds would have become insolvent with people living much longer, and corporations would be forced to raise prices or move where the labor was cheaper (many did move some/all of their operations abroad).
     

Share This Page