My piece of advice is this: if you are fortunate enough to keep your job during a recession, be ready to look for a new job quickly after the recovery. I kept

My piece of advice is this: if you are fortunate enough to keep your job during a recession, be ready to look for a new job quickly after the recovery. I kept my job during the 2008 meltdown, and I suffered from a bad case of salary compression [1]. Although we didn't lose our jobs, our salary froze during the first 4 years. Our bonuses got cancelled, so effectively our income went down. On the fifth year we started getting meagre raises, and when I finally left after 7 years, my salary went up dramatically. I estimate that when I left I was getting paid easily half of market rate. Moral of the story, I could have left after a couple of years in a recovering economy rather than keep the same grossly underpaid job for so long. [1] https://www.google.com/search?q=salary+compression&oq=salary+compression&aqs=chrome..69i57j0l7.2523j0j7&sourceid=chrome&ie=UTF-8 https://www.google.com/search?q=salary+compression&oq=salary...