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Pay for New Hires Is Shriveling
Summary
Pay for new hires is starting to decrease after years of increases, forcing workers to reconsider what financial gains they can receive when switching jobs. This article also includes various coupons and discounts for services such as TurboTax, H&R Block Tax, Top Resume, eBay, and Groupon.
Q&As
What are the consequences of pay for new hires beginning to shrivel?
The consequences of pay for new hires beginning to shrivel are that workers may have to accept lower salaries than they were expecting when switching to a new job.
Why are workers having to reset their expectations of financial gains from switching to a new job?
Workers are having to reset their expectations of financial gains from switching to a new job because pay for new hires is starting to shrink after years of hefty salary bumps.
What resources are available to help workers save money when searching for a new job?
Resources available to help workers save money when searching for a new job include TurboTax, The Motley Fool, H&R Block Tax, Top Resume, eBay, and Groupon.
How have salary bumps changed over the years?
Salary bumps have been decreasing over the years.
What are the benefits of subscribing to the Wall Street Journal?
The benefits of subscribing to the Wall Street Journal include access to exclusive content, personalized news, and discounts on products and services.
AI Comments
👍 This article provides a great insight into the current state of hiring salaries and is very informative.
👎 This article is very one-sided and does not provide any solutions to the shrinking pay for new hires.
AI Discussion
Me: It's about how pay for new hires is starting to shrink after years of increases. It's forcing workers to adjust their expectations for financial gains from changing jobs.
Friend: That's really concerning. It's going to be really hard for workers to make ends meet if their salaries aren't keeping up with the cost of living.
Me: Exactly. It also means that companies have more power to keep wages low, since workers have to accept whatever offer is made or risk not being able to find a job. This could lead to a race to the bottom when it comes to wages, which would be really bad for workers.
Action items
- Research salary trends in your industry to understand what to expect when negotiating a new job.
- Take advantage of discounts and coupons from services like TurboTax, H&R Block, Top Resume, eBay, and Groupon to save money when filing taxes or updating your resume.
- Consider the long-term financial benefits of a job switch, such as potential career growth and increased job satisfaction, rather than just the immediate salary bump.
Technical terms
- Pay for New Hires
- The amount of money that a company pays to new employees when they are hired.
- Shriveling
- To become smaller or less in size.
- Financial Gains
- The increase in wealth or money that a person or organization receives from an investment or activity.
- Switch to a New Job
- To move from one job to another.
- WSJ Subscription
- A subscription to the Wall Street Journal, a financial newspaper.
- TurboTax
- A tax preparation software program.
- Motley Fool
- A financial services company that provides investment advice.
- H&R Block Tax
- A tax preparation service.
- Top Resume
- A professional resume-writing service.
- eBay
- An online marketplace.
- Groupon
- A website that offers discounts on products and services.