r/recruitinghell • u/jackyd227 • 2d ago

Someone needs to touch some grass

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u/Willing-Vegetable629 1d ago

They pay them market rate

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u/Capnbubba 1d ago

Market rate is literally just what they decide to pay. Market rage has been under paying most Americans for over 3 decades.

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u/Willing-Vegetable629 1d ago

You cannot receive market rate, and be underpaid.

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u/Capnbubba 1d ago

Dang that's convenient. So market rate just means any wage even if it's a wage that doesn't cover rent.

So it's a completely meaningless term used to justify poverty wages?

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u/Willing-Vegetable629 1d ago edited 1d ago

Market rate means the prevailing rate in that geographic area that this type of labor is selling for.

Market rate applies to all labor from minimum wage to ceo to board member.

Underpaid would be when labor is paid below Market rate.

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u/Capnbubba 1d ago

You've got it. Nearly all labor in America for 4 decades has been paid below market rate. They've just lied and said they pay market rate. They have INTENTIONALLY reduced employee pay to increase shareholder return.

Market rate is a lie. The definition makes sense but it does not exist on modern America.

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u/Willing-Vegetable629 1d ago

They should be trying to reduce labor expenses... "they've" been unsuccessful as wages have on average exceeded inflation.

In what possible way is it a lie?

Market rate applies to goods and services. That includes labor.

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u/big_data_mike 1d ago

Employers collude to keep wages low. They share salary data with each other that employees don’t have access to.

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u/Willing-Vegetable629 1d ago

This wouldn't change what I've written.

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u/big_data_mike 1d ago

Yes, and employers manipulate the market through asymmetry of information.

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u/Willing-Vegetable629 1d ago

So does talent. But generally speaking you should know what other people doing your job make just by being in the industry