5 ms·
When the supply is affluent, the salary goes down, period.
by eva1984 11y ago
When the supply is affluent, the salary goes down, period.
- dominotw 11y agowhy do we need minimum wage laws then?
- rosser 11y agoSeriously? You're going to use the impact on Silly Valley tech salaries that a glut of engineering talent would cause as an argument against minimum wage laws? If technology professionals ever find themselves in a position where minimum wage regulations are relevant to their incomes, we'll have been through something far worse than a few layoffs. The myopia of tech people is really mind-blowing sometimes... EDIT: phrasing.
- deleted 11y ago[deleted]
- dominotw 11y agoi am merely pointing out that there are many factors involved not just supply and demand.
- rosser 11y agoLike, for example, corporations preying on people who have no choice but to take any job that's available, and offering wages that are below a starvation level?
- eva1984 11y agoIs this sarcastic? If you think 100k is the minimum wage law should go at, what a wonderful world we are living. No. Engineers are spoiled during up time because the market, so we have to bear the correction during down turn which is also from the market.
- pfarnsworth 11y agoWages didn't go down during the dotcom bust. There were just no jobs to apply for until after the dust settled in 2003-2004.
- otoolep 11y agoThey certainly did go down. I was personally at a company where the CEO came in one morning during late 2001 and announced a cut of 10% across the board. No-one left as a result either, until 2003.
- pfarnsworth 11y agoNo, as an industry, wages absolutely did not go down. Your salary went down because your company and some others were in trouble, but most companies did not have salary cuts, and salaries were not cut whatsoever. If a company goes bankrupt and it lays people off, it doesn't mean that salaries all fell, it just means those employees' salaries dropped to $0. This is what happened to you. I got modest salary increases during the same time.
- ryguytilidie 11y ago"wages absolutely did not go down" being followed by "Your salary went down because your company and some others were in trouble" makes me wonder how well this line of logic was thought out.
- pfarnsworth 11y agoNot sure what you mean. Anecdotal evidence is valueless. Sure, some companies cut salaries, but as a whole, the wages did not go down. It's not all of a sudden the going rate for a programmer went from 100k down to 85k in general.
- otoolep 11y agoYours is anecdotal, too -- you just stated it as fact. Where are the data?