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The Curse of the Class of 2009 - Lower Wages for Up to a Dec

 
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balor123



Joined: 08 Mar 2008
Posts: 1204

PostPosted: Sun May 10, 2009 3:28 am GMT    Post subject: The Curse of the Class of 2009 - Lower Wages for Up to a Dec Reply with quote

The Curse of the Class of 2009 - Lower Wages for Up to a Decade


I mentioned this problem in a previous post and the effect it would have on housing prices in a pipelined market like Boston.
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nickbp



Joined: 26 Feb 2009
Posts: 75

PostPosted: Sun May 10, 2009 5:08 am GMT    Post subject: Reply with quote

I'm surprised the income difference would last that long. If you're making under market rate, couldn't you just switch employers once conditions improve?
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nickbp



Joined: 26 Feb 2009
Posts: 75

PostPosted: Sun May 10, 2009 5:19 am GMT    Post subject: Reply with quote

Something I just thought of: They could go back to school and get a graduate degree while waiting out the storm.
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nickbp



Joined: 26 Feb 2009
Posts: 75

PostPosted: Sun May 10, 2009 5:38 am GMT    Post subject: Reply with quote

nickbp wrote:
If you're making under market rate, couldn't you just switch employers once conditions improve?

nickbp wrote:
Something I just thought of: They could go back to school and get a graduate degree while waiting out the storm.

Haha, I really wish these forums had an edit button -- the bottom of the article says the same things, at least for sciences/engineering.

I wish that guy would lay off the geocities-esque colored text. Pun intended.
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balor123



Joined: 08 Mar 2008
Posts: 1204

PostPosted: Sun May 10, 2009 2:24 pm GMT    Post subject: Reply with quote

Having been in this position, switching employers can make a big difference but often not enough. They usually ask your previous pay. You don't have much leverage when their first offer is 25% higher than what you are currently making. There needs to be really strong demand for workers for you to demand good compensation and there hasn't been that demand for engineers at least since the late 90s. Outsourcing dampens employers willingness to accept non-ideal skillsets and graduating during tough times means that you have fewer opportunities to develop those well paying skillsets.
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