Would you accept a no-raise promotion?

I saw this article on LinkedIn today. Can someone explain this to me?

LinkedIn

Would you take a promotion without a raise? 64% of employees said they would, according to a survey by staffing firm OfficeTeam. That’s up from 55% in 2011. Younger workers were more willing, with 72% of 18 to 34 year olds saying they’d take a raiseless promotion and 53% of those 55 and above saying the same. This willingness may be a sign of the times: OfficeTeam found that 33% of HR managers said it was somewhat common to give out no-money promotions, up from 19% in 2011. • Here’s what people are saying.

Everyone else, I think this is a perspective that comes from younger people being screwed by the 2008 collapse of the market that never recovered. This is what has lead to the explosive popularity of Trump and Bernie Sanders. I will admit that the last 2 years things have gotten A LOT better. However I think this speaks volumes to the dire circumstances the market has been in since 2008. People will literally do anything to get ahead including taking promotions with no corresponding increase income.

Now, we all know the unemployement number tends to be BS however if the number is true and there really is that much work then this trend should no longer exist correct?

The laws of supply and demand should come into the equation and if there's not enough people working we should see a corresponding increase in wage growth and incentives that compete for more talented employees if I'm not mistaken.

Just another among dozens of other examples that the lie the media is purporting may not necessarily be true.

🤣

Yes, i would and have.

The benefit for me was the gain of skill and the upward movement on my resume. I've never turned down opportunities to gain new skills.

The job i have now started with me working for about 30% less than others doing my job make. Because i was willing to trade experience for cash. I've doubled my pay since then.

a reply to: bigfatfurrytexan

I agree that lateral movement after acquiring the position will lead to greater pay that's not the point

the point is if there was more market demand than they would have to offer incentive's in order to take the promotion lend credence to larger market trends that everything the media says may not exactly be true

a reply to: toysforadults

Depends on what the position was.

Any sort of added responsibility is another skill I can add to my resume and make me more desirable just in case I get let go or what ever. People don't seem to realize that once you have your foot in the door, building a career is far better than worrying about how much money you want to make. Work hard, concentrate on progressing yourself and the money will follow.

originally posted by: toysforadults

Now, we all know the unemployement number tends to be BS however if the number is true and there really is that much work then this trend should no longer exist correct? The laws of supply and demand should come into the equation and if there's not enough people working we should see a corresponding increase in wage growth and incentives that compete for more talented employees if I'm not mistaken.

The problem is the skill set disparity. There are more jobs open than the 'unemployment rate,' but the open jobs are for skills not possessed by the unemployed. If you have an M.S. in Mechanical Engineering, there's no reason you can't get a job. But if you have a B.A. in English, you need not apply. That kind of disparity is true for all levels. The unemployed have skills, if they have skills at all, that are not needed. And 're-training' them, by and large, is more or less impossible.

a reply to: strongfp

not necessarily, if your not aware of your value how can you ever demand it?

a reply to: schuyler

if that's true then wouldn't that drive wage/ incentive growth for those with the skills?

if I have a business and I promote someone without a raise, they work for me for a year acquire the skills then leave my company


how is that benefiting me long term?

originally posted by: strongfp
a reply to: toysforadults

Depends on what the position was.

Any sort of added responsibility is another skill I can add to my resume and make me more desirable just in case I get let go or what ever. People don't seem to realize that once you have your foot in the door, building a career is far better than worrying about how much money you want to make. Work hard, concentrate on progressing yourself and the money will follow.

Absolutely this! Many folks are smart enough to volunteer for free to develop the skills they want to turn into a lifetime career. Or at least they used to. Seems that some in the younger generations think they are too good to “trade skills for cash”, as bigfatfurrytexan put it.

a reply to: toysforadults

In today's world, there's hundreds of ways to determine your worth.

For example, I'm a welder. At face value, welders are a dime a dozen, and are worth no more than 16 dollars an hour where I live.

But once you start to stack up the more niche skills involved in welding, the more involved you are with the career, you talk to others, hear rumors and you can easily search what jobs are posted and how much they are willing to dish out for say a pipe welder, or a welder that can back gouge over 1/2 inch plate, which make over 28+ dollars an hour where i live. The internet can easily explain it all for you.

a reply to: toysforadults

Im an outlier, as i do professional work without a college degree. Im accustomed to trading pay for experience.

The problem you refer to....we could talk about for days here. My summarized thoughts though:

- yes, you'd expect more jobs to affect the demand side of the supply side equation negatively, causing wages to drive upwards. That is conventional wisdom. But conventional wisdom has been formed based on experience gained through the industrial revolution, and may not apply today.
- building on the prior point, the coursework offered by colleges is wholly unprepared for what is happening today, and consequently is making students unprepared. Allowing students to graduate as journalists is criminal negligence. There's no way around it. Continuing to teach business courses without also making room for development of new avenues of investment in the ever closed system of todays markets, or making room of outright entrepreneurialism seems negligent. Turning out crops of MBAs to fill diminishing jobs in a growing service economy will only serve to make for pissed off burger flippers
- building on the prior point, there seems to be a complete inability to imagine what is happening in 10 minutes. This may have as much to do with media...but it seems that people don't realize the shrinking timelines, and don't realize that todays decisions effect today, not tomorrow.

a reply to: toysforadults

Yes I would, and have taken on greater responsibility for the same pay before in my life.
It's called getting on, progression, and farming the land you've got.

originally posted by: strongfp
a reply to: toysforadults

In today's world, there's hundreds of ways to determine your worth.

For example, I'm a welder. At face value, welders are a dime a dozen, and are worth no more than 16 dollars an hour where I live.

But once you start to stack up the more niche skills involved in welding, the more involved you are with the career, you talk to others, hear rumors and you can easily search what jobs are posted and how much they are willing to dish out for say a pipe welder, or a welder that can back gouge over 1/2 inch plate, which make over 28+ dollars and your where i live. The internet can easily explain it all for you.

A good welder with a mind for business can be incredibly wealthy. There's no such thing as "just a welder" when you engage a brain behind it.

a reply to: strongfp

so I hire you, give you a promotion without a raise, you acquire the skills and leave my company

how does that benefit me long term?

originally posted by: toysforadults
a reply to: schuyler

if that's true then wouldn't that drive wage/ incentive growth for those with the skills?

Sure, for "those with the skills." Last time I checked the starting salary for a chemical engineer was way over $100K per year. I'd say that has already happened. But those unemployed will remain so because the fact that a chemical engineer's salary has gone up due to scarcity has nothing in t for them.

originally posted by: toysforadults
if I have a business and I promote someone without a raise, they work for me for a year acquire the skills then leave my company


how is that benefiting me long term?

It really depends on the company. Some positions are specifically built to be starter positions, where there isn’t an expectation of lifetime employment in that slot. Though some don’t have the drive to advance and stagnate there anyway; usually not their fault, they were never taught about striving to reach their potential.

a reply to: bigfatfurrytexan

yes, you'd expect more jobs to affect the demand side of the supply side equation negatively, causing wages to drive upwards. That is conventional wisdom. But conventional wisdom has been formed based on experience gained through the industrial revolution, and may not apply today.

hmmm, interesting, so what's the difference between then and now?

building on the prior point, the coursework offered by colleges is wholly unprepared for what is happening today, and consequently is making students unprepared. Allowing students to graduate as journalists is criminal negligence. There's no way around it. Continuing to teach business courses without also making room for development of new avenues of investment in the ever closed system of todays markets, or making room of outright entrepreneurialism seems negligent. Turning out crops of MBAs to fill diminishing jobs in a growing service economy will only serve to make for pissed off burger flippers

I totally agree that our education system is a multi trillion dollar complete failure, I also agree that entrepreneurship is out of reach of the majority of people for various reasons including lack of funds and a burdensome regulatory enviornment

that's actually probably a major factor driving this paradigm

building on the prior point, there seems to be a complete inability to imagine what is happening in 10 minutes. This may have as much to do with media...but it seems that people don't realize the shrinking timelines, and don't realize that todays decisions effect today, not tomorrow.

interesting can you expand?

originally posted by: toysforadults
a reply to: strongfp

so I hire you, give you a promotion without a raise, you acquire the skills and leave my company

how does that benefit me long term?

These are all hypothetical questions.
It would depend how well the company treats me, how much I'm already making, was there a company I always wanted to work for other than your company?

If a company treats me right, and I make at least a livable wage, I'd be willing to take on more responsibility to help the company thrive and help my fellow employees.
I am a very honest and loyal worker. I generally stay with a company till' I'm let go. But if I feel there is no growth I need to do what's best for me.

originally posted by: toysforadults
a reply to: strongfp

so I hire you, give you a promotion without a raise, you acquire the skills and leave my company

how does that benefit me long term?

Why did they leave your company?
I've taken more responsibility for no extra pay in my life before now, it was a tactical move, and I ended up earning more with the same company.