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What are some examples of competitive industries with top-of-band comp? Based on what I've seen, when the going gets tough, companies would rather squeeze their
by chillacy 6y ago
What are some examples of competitive industries with top-of-band comp? Based on what I've seen, when the going gets tough, companies would rather squeeze their workers than their investors (airline companies and pilots), since compensation falls within a range.
- eru 6y agoInvestors are squeezed all the time. Just look at how much stock prices drop whenever there's some bad news. What do you mean by top-of-band comp? In a competitive industry workers are paid according to their marginal productivity. https://www.idiosyncraticwhisk.com/2019/10/california-wants-more-monopsony-in.html https://www.idiosyncraticwhisk.com/2019/10/california-wants-... has some background to what I was talking about. Do keep in mind that industries can be (un-) competitive in different ways. Eg there's a good argument to be made that banks don't compete in competitive markets for many of their products, but they sure compete for labour.