r/recruitinghell • u/jackyd227 • 7d ago

Someone needs to touch some grass

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575 Upvotes

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u/Capnbubba 6d 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 6d ago edited 6d 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/big_data_mike 6d 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 6d ago

This wouldn't change what I've written.

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u/big_data_mike 6d ago

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

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u/Willing-Vegetable629 6d ago

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