3 ms·

"I support the increase in wages but you also need to consider what ROI you are bringing to the company if you are commanding a 200k + salary in a place like NC

by st3v3r 10y ago

"I support the increase in wages but you also need to consider what ROI you are bringing to the company if you are commanding a 200k + salary in a place like NC." At the same time, the company also needs to consider what the companies next door are paying. If I'm currently over next door at the bank getting paid over $200k, I honestly do not care that your company doesn't think paying over $200k is not worth the ROI. Neither is anyone else who's looking for work in the area.

TuringNYC 10y ago
There is another point I missed -- NOT accepting market wages can carry real consequences. In the tech-heavy markets like NY and SF, home prices closely track a constant multiple of market wages overall (tech and non-tech.) As market wages go up, so do home prices. People are often pushed to their breaking points in terms of what % of their income they give up to a mortgage. These seem like silly details for those in their 20s. I had a roommate. Having a roommate doesnt really work when you are married with children. You start competing with your peers for homes. Making less money than your peers puts you at a disadvantage. I was pretty lax on salary when I was young, optimizing on growth and experience over salary. That was a good decision. In my late 30s now, i negotiate to get market rate. Not doing so translates into serious consequences for me and my family. So to answer the parent's post -- absolutely...if the company next door is paying more, i'd work there all else being equal. Also, dont forget medical expenses. Once you have a family, you eat through those deductibles like crazy. One complicated pregnancy will set you back $20k+ depending on your health plan. At that point, some prospective employer's ROI is of little consequence to your very immediate needs like co-pays and the collection notices which roll in daily.

by st3v3r 10y ago

TuringNYC 10y ago

There is another point I missed -- NOT accepting market wages can carry real consequences. In the tech-heavy markets like NY and SF, home prices closely track a constant multiple of market wages overall (tech and non-tech.) As market wages go up, so do home prices. People are often pushed to their breaking points in terms of what % of their income they give up to a mortgage. These seem like silly details for those in their 20s. I had a roommate. Having a roommate doesnt really work when you are married with children. You start competing with your peers for homes. Making less money than your peers puts you at a disadvantage. I was pretty lax on salary when I was young, optimizing on growth and experience over salary. That was a good decision. In my late 30s now, i negotiate to get market rate. Not doing so translates into serious consequences for me and my family. So to answer the parent's post -- absolutely...if the company next door is paying more, i'd work there all else being equal. Also, dont forget medical expenses. Once you have a family, you eat through those deductibles like crazy. One complicated pregnancy will set you back $20k+ depending on your health plan. At that point, some prospective employer's ROI is of little consequence to your very immediate needs like co-pays and the collection notices which roll in daily.