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It all depends on your goals in life. I would MUCH rather have job flexibility, time off, and a low stress working environment than get a small raise. But, we don't spend much of our net and are really just focused on lifestyle.
In general I have found in the professional world the best way to get a raise is to move from one job to another. That quickly outpaces the measly few % you'd get by staying at a company. That being said my wife's company will offer RSUs with three year vesting to try to lure people into staying. Total BS.
Yeah the days of acceptable merit increases seem to be over. Although the economy has recovered from the last recession, businesses seem to have taken the opportunity to continue giving 2-3% yearly increases as a standard.
Sucks for people who like to stay in their comfort zone, but moving around is the only way to keep up financially.
Yeah the days of acceptable merit increases seem to be over. Although the economy has recovered from the last recession, businesses seem to have taken the opportunity to continue giving 2-3% yearly increases as a standard.
Sucks for people who like to stay in their comfort zone, but moving around is the only way to keep up financially.
There is no more comfort zone. In my 20 years as an IT professional, there is always the threat of being laid off. Never in my young boyhood dreams did I ever imagine that working for a Fortune 500 company and doing your job well is no guarantee that you won't lose your job.
ANnual layoffs started with the dot com bust. I kid you not, every year for the past 12 years there has been a layoff at Fortune 500 companies I've worked for. Either through bad numbers, mergers and acquisitions, or simple re-orgs.
Talk about morale killers. No job is secure anymore even in multi-billion dollar companies that are sitting on billions in cash just waiting to go shopping for some unsuspecting firm so it can kill that firm and lay those good people off. It's a sad cycle. And good hard-working employees with families are seen as resources. Like virtual CPUs companies to turn up and turn down at will.
Nothing but a number. Meanwhile, my father held his job for 30 years. My wife's parents held theirs longer. No more comfort zones.
Lou Gerstner started layoffs at IBM well before the dotcom era (92-95 ?). Back then, Poughepsie was losing jobs to NC, TX, FL, ...etc. During/after the dot com, FL (Tampa, Boca) were shut down in favor of NC, TX and of course India and China. The large majority of publicly traded companies are loyal to their shareholders first and foremost. Everything else comes second.
Quote:
Originally Posted by adelphi_sky
ANnual layoffs started with the dot com bust. I kid you not, every year for the past 12 years there has been a layoff at Fortune 500 companies I've worked for. Either through bad numbers, mergers and acquisitions, or simple re-orgs.
Lou Gerstner started layoffs at IBM well before the dotcom era (92-95 ?). Back then, Poughepsie was losing jobs to NC, TX, FL, ...etc. During/after the dot com, FL (Tampa, Boca) were shut down in favor of NC, TX and of course India and China. The large majority of publicly traded companies are loyal to their shareholders first and foremost. Everything else comes second.
Yeah but most of it is BS. People got spoiled with the dot come boom and expectations were never in line with reality since then. There's so much cash flowing through Wall St., people expect neverending growth. Which is impossible. So, numbers stagnate or dip for a few quarters, then it must be too many employees, instead of lack of management or just plain ole competition.
It's never about the company on the brink of going out of business, so they have to lay people off. These companies are sitting on billions. It's like we're marching closer and closer to some dark dystopian world where workers are chaff and don't participate in the success of the company. Only the failures.
Our best hope is to build our own business or play the lottery and retire early if you win.
IBM brought in Gerstner shortly *after* the company abandoned their old lifetime employment practice and announced layoffs. He was brought in to implement the years of downsizing that the board had realized needed to happen.
Yeah but most of it is BS. People got spoiled with the dot come boom and expectations were never in line with reality since then. There's so much cash flowing through Wall St., people expect neverending growth. Which is impossible. So, numbers stagnate or dip for a few quarters, then it must be too many employees, instead of lack of management or just plain ole competition.
It's never about the company on the brink of going out of business, so they have to lay people off. These companies are sitting on billions. It's like we're marching closer and closer to some dark dystopian world where workers are chaff and don't participate in the success of the company. Only the failures.
Our best hope is to build our own business or play the lottery and retire early if you win.
Yep my wife's current company has well over $100b in cash but still does layoffs, excuse me "reorgs", seemingly indiscriminately. Good are thrown out with the bad. That being said, as people sit in their position for years they tend to grow too comfortable and "stale", and I do actually agree with the shakeups sometimes. But they are performed way too often and give the rank and file workers zero job stability.
In a twist of fate, skilled labor enjoys more job security (and pay) then even decently salaried employees these days.
You do have another hope outside of winning the lottery, but you have to be committed to living well below your means and investing large sums right out of the gate.
This is a slightly depressing read but it has many takeaways from it:
100% Agree.
If you have enough skill, resources, time and courage, ... building your own business is the way to go.
But it ain't possible for over 90% of the people. And companies know it.
Even when you build a business, you need to run it, and grow it ...?
If you are familiar with the Cashflow Quadrant ... Being in the top right corner (Build systems that generate income semi-passively) would be the goal.
Quote:
Originally Posted by adelphi_sky
Our best hope is to build our own business or play the lottery and retire early if you win.
Someone posted that “perhaps IBM will take on the culture of Red Hat...”. LOLROFWPMP
lol... yeah IBM is definitely going to retain the culture of IBM. IBM gonna do what IBM gonna do and that's remain culturally in the stone age.
Poor RedHat employees.
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