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Several companies I know seemed to lie and use Covid as a convenient excuse to not give out raises (or give shitty bonuses, etc) to save money in the short term

Several companies I know seemed to lie and use Covid as a convenient excuse to not give out raises (or give shitty bonuses, etc) to save money in the short term. Meanwhile hiring and earnings don't match up to those actions.

gricardo99 6y ago
That's a fairly cynical take. You may be right, at least in some cases, but I also think it's reasonable for any executive to look at the unprecedented situation with a high degree of uncertainty and reign in spending on all possible fronts. In hindsight perhaps cutting back salaries/bonuses wasn't warranted, but that doesn't mean it was all planned as a scheme to boost profits.
- jacques_chester 6y ago
  I'm cynical because apparently reigning in spending can be done instantly, but handing out bonuses, raises or equity seems to be a very long and difficult process involving a lot of some-day-soons and any-day-nows and then perhaps-next-years.
  - nawgz 6y ago
    Indeed, it's easy for the execs raking in top salaries to say "everyone cant get raises now", yet when the profits roll in they don't reverse course and now your salary is deflated by one or more annual cycles of non-adjustment. This is a permanent deflation of your salary vs pre-COVID expectations at this same company too. This phenomenon definitely has made me want to leave my job. I would consider myself the most important member of my team but would guess I am making a median salary on it. Time to brush up on my political speak and whiteboarding
    - chii 6y ago
      > I would consider myself the most important member of my team but would guess I am making a median salary on it so either you're not as important as you think you are, or you're being ripped off salary-wise. Both are reasons to move tbh.
  - hackerfromthefu 6y ago
    Yes .. watch what they DO, over a zoomed out timescale. Anything else is a decoy. Words != actions.
- deleted 6y ago
  [deleted]
- ahepp 6y ago
  Eh, executives seem pretty receptive to the idea of not cutting their own pay during uncertainty or a downturn[0]. My understanding is that retention bonuses are the norm during bankruptcy. Of course, I understand the reason for that. But the reasoning is pretty clearly "we're betting on you not being mobile enough or irreplaceable enough". Of course it is a bit cynical, and maybe some companies are acting different. But in general I think the cynicism is justified. [0] https://on.ft.com/3rfL1n4 https://on.ft.com/3rfL1n4 (paywalled, but link bypasses)

gricardo99 6y ago

That's a fairly cynical take. You may be right, at least in some cases, but I also think it's reasonable for any executive to look at the unprecedented situation with a high degree of uncertainty and reign in spending on all possible fronts. In hindsight perhaps cutting back salaries/bonuses wasn't warranted, but that doesn't mean it was all planned as a scheme to boost profits.

jacques_chester 6y ago
I'm cynical because apparently reigning in spending can be done instantly, but handing out bonuses, raises or equity seems to be a very long and difficult process involving a lot of some-day-soons and any-day-nows and then perhaps-next-years.
- nawgz 6y ago
  Indeed, it's easy for the execs raking in top salaries to say "everyone cant get raises now", yet when the profits roll in they don't reverse course and now your salary is deflated by one or more annual cycles of non-adjustment. This is a permanent deflation of your salary vs pre-COVID expectations at this same company too. This phenomenon definitely has made me want to leave my job. I would consider myself the most important member of my team but would guess I am making a median salary on it. Time to brush up on my political speak and whiteboarding
  - chii 6y ago
    > I would consider myself the most important member of my team but would guess I am making a median salary on it so either you're not as important as you think you are, or you're being ripped off salary-wise. Both are reasons to move tbh.
- hackerfromthefu 6y ago
  Yes .. watch what they DO, over a zoomed out timescale. Anything else is a decoy. Words != actions.
deleted 6y ago
[deleted]
ahepp 6y ago
Eh, executives seem pretty receptive to the idea of not cutting their own pay during uncertainty or a downturn[0]. My understanding is that retention bonuses are the norm during bankruptcy. Of course, I understand the reason for that. But the reasoning is pretty clearly "we're betting on you not being mobile enough or irreplaceable enough". Of course it is a bit cynical, and maybe some companies are acting different. But in general I think the cynicism is justified. [0] https://on.ft.com/3rfL1n4 https://on.ft.com/3rfL1n4 (paywalled, but link bypasses)