5 ms·

Is anybody receiving cost-of-living adjustments from their employer?

by aliqot 4y ago

btbuildem 4y ago
Record profits are stolen wages
- deleted 4y ago
  [deleted]
- lotsofpulp 4y ago
  Or simple math because if purchasing power of currency goes down by 2% then nominal profits have to increase to maintain the same profit margin. If a business has a 3% profit margin, would you expect them to have a 2% profit margin 5 years from now, and 1% profit margin 10 years from now, and 0.1% profit margin x years from now?
  - btbuildem 4y ago
    Replace "business" and "profit" with "employee" and "raise" and ask the question again.
the_gastropod 4y ago
Nope
akmarinov 4y ago
No, those usually lag behind
grugagag 4y ago
No, instead they’re doubling down on layoff vibes to keep everyone in check
shmatt 4y ago
How many employees have leverage right now to jump ship? Theres a direct connection there. Cost of living is different than cost of employing. If anything, cost of employing is going down in tech, going up in the service industry
trashtestcrash 4y ago
no we are getting layoff, anyone who thought they were to be promoted is oppressed to feel "lucky" if they don't get redundancy.
astura 4y ago
My employer did one across the board COLA, yes.
anotherman554 4y ago
Wages increased 5.1 percent for the 12 month period ending in December 2022, so I'd say it's normal to receive a cost-of-living adjustment.
hinata08 4y ago
Engineers don't always get these, as their pay isn't based on the living cost, but on the market value of their skills. Workers on the minimum wage should typically get cost-of-living adjustments, because they get a wage and not a real salary. This is why this is called the minimum wage. They don't get money based on their contribution to the company, but just the amount of money to cover costs, and to be able to show up at work and be healthy the next day. So their wage should increase with inflation. In some country, the minimum wage is calculated on the minimum amount of money that anyone should spend to keep the economy running. It's a bit more than the amount to still be alive the next day, but the same logic and the adjustment would still apply. Engineers (which seem to make the bulk of the reader in HN) are usually paid on a market value basis. You negotiate your salary based on your skills, not the price of commodities ! (You can't reasonably complain to HR about the rising price of eggs when you get more than twice the minimum wage). If you want a raise, get better skills and a better job ! Because you can afford that car even with the inflation. If your market value changes, your salary will also change. But there is no direct link with inflation. For example, inflation soars, but layoffs are happening in Cali, so salaries don't go stonk. EDIT : check out https://en.wikipedia.org/wiki/Minimum_wage#Economic_models https://en.wikipedia.org/wiki/Minimum_wage#Economic_models ! In a liberal perspective (with supply and demand and stuff. I don't like it, but it's a spherical cow), the rising minimum wage doesn't impact the equilibrium, it's just a new line. So whoever was on a equilibrium much above the minimum wage won't be affected ! Only the least paid jobs will be adjusted for inflation (when the minimum wage is over the equilibrium, or close to it)
- Ancapistani 4y ago
  > You negotiate your salary based on your skills, not the price of commodities ! Salaries are denominated in USD - so a decrease in the value of USD is less than it was. Unless your value to the company also decreases with inflation, then salary should be renegotiated.
  - hinata08 4y ago
    >your value to the company also decreases with inflation Management capitalizes on the difference between the value that is created and how much you're paid. (according to yet another liberal perspective that I don't like). So why would they increase your wage, if other companies are doing layoffs ? >then salary should be renegotiated. Yes, but from your perspective, the perspective of unions (or from a Trotskyist perspective where workers create value and collectively decide to share it). Not HR's I had the "opportunity" to graduate in times when more layoffs were happening than nowadays (covid). And I can tell you how these companies that still hired were accepting the cheapest applicants, instead of sharing the value they would create (I was even hired bellow the minimum wage, because the local government was promoting contracts of 'apprenticeships' as a loophole to not pay engineers who were desperate for a first experience) I can also tell you how fast I changed jobs and had a dirac of better pay, despite a continuously increasing productivity, just because the job market changed overnight. So HR doesn't care about your value. They check your market value, and what you would bring to the company for that market value (the difference being their loss or their profits) They don't pay you because they like you, nor because they like engineering. They need their work to be done, in an efficient and reasonably cheap manner ! (and they would happily pay you a minimum wage or bellow, if that were your market value) Again, spherical cow !

Is anybody receiving cost-of-living adjustments from their employer?

by aliqot 4y ago

Is anybody receiving cost-of-living adjustments from their employer?

btbuildem 4y ago

Record profits are stolen wages

deleted 4y ago
[deleted]
lotsofpulp 4y ago
Or simple math because if purchasing power of currency goes down by 2% then nominal profits have to increase to maintain the same profit margin. If a business has a 3% profit margin, would you expect them to have a 2% profit margin 5 years from now, and 1% profit margin 10 years from now, and 0.1% profit margin x years from now?
- btbuildem 4y ago
  Replace "business" and "profit" with "employee" and "raise" and ask the question again.

the_gastropod 4y ago

Nope

akmarinov 4y ago

No, those usually lag behind

grugagag 4y ago

No, instead they’re doubling down on layoff vibes to keep everyone in check

shmatt 4y ago

How many employees have leverage right now to jump ship? Theres a direct connection there. Cost of living is different than cost of employing. If anything, cost of employing is going down in tech, going up in the service industry

trashtestcrash 4y ago

no we are getting layoff, anyone who thought they were to be promoted is oppressed to feel "lucky" if they don't get redundancy.

astura 4y ago

My employer did one across the board COLA, yes.

anotherman554 4y ago

Wages increased 5.1 percent for the 12 month period ending in December 2022, so I'd say it's normal to receive a cost-of-living adjustment.

hinata08 4y ago

Engineers don't always get these, as their pay isn't based on the living cost, but on the market value of their skills. Workers on the minimum wage should typically get cost-of-living adjustments, because they get a wage and not a real salary. This is why this is called the minimum wage. They don't get money based on their contribution to the company, but just the amount of money to cover costs, and to be able to show up at work and be healthy the next day. So their wage should increase with inflation. In some country, the minimum wage is calculated on the minimum amount of money that anyone should spend to keep the economy running. It's a bit more than the amount to still be alive the next day, but the same logic and the adjustment would still apply. Engineers (which seem to make the bulk of the reader in HN) are usually paid on a market value basis. You negotiate your salary based on your skills, not the price of commodities ! (You can't reasonably complain to HR about the rising price of eggs when you get more than twice the minimum wage). If you want a raise, get better skills and a better job ! Because you can afford that car even with the inflation. If your market value changes, your salary will also change. But there is no direct link with inflation. For example, inflation soars, but layoffs are happening in Cali, so salaries don't go stonk. EDIT : check out https://en.wikipedia.org/wiki/Minimum_wage#Economic_models https://en.wikipedia.org/wiki/Minimum_wage#Economic_models ! In a liberal perspective (with supply and demand and stuff. I don't like it, but it's a spherical cow), the rising minimum wage doesn't impact the equilibrium, it's just a new line. So whoever was on a equilibrium much above the minimum wage won't be affected ! Only the least paid jobs will be adjusted for inflation (when the minimum wage is over the equilibrium, or close to it)

Ancapistani 4y ago
> You negotiate your salary based on your skills, not the price of commodities ! Salaries are denominated in USD - so a decrease in the value of USD is less than it was. Unless your value to the company also decreases with inflation, then salary should be renegotiated.
- hinata08 4y ago
  >your value to the company also decreases with inflation Management capitalizes on the difference between the value that is created and how much you're paid. (according to yet another liberal perspective that I don't like). So why would they increase your wage, if other companies are doing layoffs ? >then salary should be renegotiated. Yes, but from your perspective, the perspective of unions (or from a Trotskyist perspective where workers create value and collectively decide to share it). Not HR's I had the "opportunity" to graduate in times when more layoffs were happening than nowadays (covid). And I can tell you how these companies that still hired were accepting the cheapest applicants, instead of sharing the value they would create (I was even hired bellow the minimum wage, because the local government was promoting contracts of 'apprenticeships' as a loophole to not pay engineers who were desperate for a first experience) I can also tell you how fast I changed jobs and had a dirac of better pay, despite a continuously increasing productivity, just because the job market changed overnight. So HR doesn't care about your value. They check your market value, and what you would bring to the company for that market value (the difference being their loss or their profits) They don't pay you because they like you, nor because they like engineering. They need their work to be done, in an efficient and reasonably cheap manner ! (and they would happily pay you a minimum wage or bellow, if that were your market value) Again, spherical cow !