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Businesses don't have infinite resources to hire workers, and most workers old enough to truly be experts are not going to relocate easily. 1x, 2x, even 3x mark
by dangrossman 11y ago
Businesses don't have infinite resources to hire workers, and most workers old enough to truly be experts are not going to relocate easily. 1x, 2x, even 3x market wages won't be enough to move someone that's already earning a comfortable wage, likes their job, and has roots (a home, a spouse that likes their job, children in school, family nearby) in their current community. No single digit multiple of market wages would get me to move to Silicon Valley, let alone the middle of West Virginia.
- finance-geek 11y agoLuckily, you are just one person. Here, we're speaking about an entire market. And yes, 2x and 3x market wages would absolutely cause major shifts in labor. Even < 2x market wages would accomplish this. It already happens the other way, 1.5x and 2x market wage multiples drive flow of skilled engineers from California to Wall Street.