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Eventually, but salaries tend to lag inflation. Also would depend how quickly rates went up.
by matwood 6y ago
Eventually, but salaries tend to lag inflation. Also would depend how quickly rates went up.
- nostrademons 6y agoDepends on your job. Professional/managerial salaries often lead inflation - if you're a financier, engineer, consutant, or CEO you've been raking it in over the last decade. Public servants, service & factory workers, and other commodity jobs lag inflation. My mom was a teacher and said that when she graduated in college (late 60s), teacher salaries were maybe 20-30% below engineer/lawyer/professor salaries. By the time I was born (early 80s) her classmates in those professions were making 3x what she was.