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employers taking advantage of the economy

 
#1 employers taking advantage of the economy
28/01/2009 22:52

John Doe number 4

Has any one noticed that jobs these days are paying substantially less than what the same job was paying 2 yrs back- i mean 20-30% less. It seems that employers are really taking advantage of this current economic situation.

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#2 RE: employers taking advantage of the economy
29/01/2009 00:06

Mike to John Doe number 4 (#1)

That's just how the cycle works...greater number of skilled people out of work increases supply, which means employers can offer lower wages. In prosperous times (ie 2 years ago) they had to pay more to attract the better people

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#3 RE: employers taking advantage of the economy
29/01/2009 09:32

anon to Mike (#2)

Kind of a sweeping statement, can you name specific companies that are dropping their salaries by 20-30%?

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#4 RE: employers taking advantage of the economy
29/01/2009 09:41

John Doe Number 4 to John Doe number 4 (#1)

I'd rather not name specific companies on a public forum like this. Some large global consulting companies, and larger well-known insurance companies. Small companies seem tol be keeping wages up, but its the larger , brand name companies that see plenty of applications that are dropping salaries.

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#5 RE: employers taking advantage of the economy
29/01/2009 10:48

Deacs to John Doe Number 4 (#4)

John Doe number 4

An anonymous public forum like this one is an ideal medium for a free and frank exchange of views.

As anon implies, it would be very interesting to see which companies are best avoided just now.

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#6 RE: employers taking advantage of the economy
29/01/2009 13:57

Mars A Day to John Doe number 4 (#1)

Downturn/recession or not employers have to and will continue to pay premiums for rare or exceptional individuals. If you are seeking a suppression of salaries on offer, that is likely to be hitting the broadest hiring profiles on offer - and unfortunately it's their turn to put the pressure on after several years of candidates demanding inflated remuneration.

What we are already seeking is not so much that companies are reducing salaries on offer (although they are in a better position to negotiate obviously) but generally ratcheted up hiring criteria - someone who would have just made the grade 2 months ago will now be falling short.

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#7 RE: employers taking advantage of the economy
29/01/2009 17:31

Recruiter too to Mars A Day (#6)

You will be even more pleased when I tell you that salaries in MCS are currently pretty much the same as they were in 1998 and in some cases lower: and that’s fact, not anedote

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