13 ms·
It means you already had the paycut, you need to have at least %4.2 rise + reimbursement to make even. In high inflation countries you often get a revision eve
by mrtksn 4mo ago
It means you already had the paycut, you need to have at least %4.2 rise + reimbursement to make even.
In high inflation countries you often get a revision every 2-3 months and you get a rise that is higher than the official inflation, as a result this solidifies the inflation and boosts the economy as everyone immediately buys whatever they can before it becomes more expensive. It's a vicious cycle.
- sleight42 4mo agoArgentina, for example. Coworkers there told me about this. Madness.
- NewJazz 4mo agoYou and your employer should consider future expected inflation at the time of negotiation. You don't need a true up in that case to "break even!.
- mrtksn 4mo agoIRL most of the time there's no negotiation, you find out your updated salary when the money hits the bank.
- NewJazz 4mo agoAt initial employment there is salary negotiation. Each COLA then automatically inherits whatever assumptions were baked into the starting number.
- mitthrowaway2 4mo agoAnd hopefully the other candidates applying for the position have similar inflation expectations to your own!
- foobarian 4mo agoReminds me of stories from ex-Yu during high inflation periods (e.g. yearly doubling; not counting periods when there were runaway spikes of almost daily doubling) when people would go to remote areas where shops didn't yet get the updated prices from headquarters and basically walked away with a bunch of near free stuff.
- mrtksn 4mo agoSmall independent shops are often having trouble with keeping up with the prices, so checking out those shops sometimes yields great deals.
- fireflash38 4mo agoThey should clearly buy e-ink price displays! /s