Comments on: I am getting “promoted”, but also getting a “pay-cut”

By: Bob

Bob — Wed, 18 Mar 2009 05:56:57 +0000

I think you should be happy that the cut was only the internet. I’ve heard instances where people had to take 10-15% paycut on top of loosing all benefits like broadband, mobile etc

By: Tim

Tim — Thu, 15 Jan 2009 16:23:53 +0000

Sounds goofy to me. Seems to me that a new position of higher responsibility, etc., should come with a higher salary, not a raise. There is a difference between a raise and a higher salary.

as far as cutting discretionary spending like internet at home, then so too does discretionary work from home.

By: pacman

pacman — Wed, 14 Jan 2009 02:25:14 +0000

What are the horror stories on layoffs ? Most tech companies have hiring freezes. But they have little in the way of job cuts.

By: occdude

occdude — Tue, 13 Jan 2009 05:35:15 +0000

Well if its any consolation what is happening to you is happening to millions. Thats part of the recovery during recessions. People learn to do more with less, they consume less, save more, challenge business to deliver value added products which uplifts all of society. I don’t fear recessions. Recessions cleans out the excesses, seperates the wheat from the chaffe and results in s bonifide recovery if allowed to run its course.

If your salary stayed the same, you now can buy more gas than you could a year ago, industrial metals, stocks, real estate etc. Your actually richer salary wise in a deflationary environment. The people getting thumped in this recessionary phase are borrowers who see their earnings static if not declining if not extinct while their bills stay the same, frozen at the pre-deflationary period.

Now I know nobody wants to lose their jobs and during severe, prolonged recessions ie. depressions, there is a temporary period where nobody knows what direction the economy needs to take and during this period people save like crazy (10,15,20 percent) which sets the stage for a massive recovery later on as malinvestments are liquidated, strong hands take assets from the weak for pennies on the dollar and people pull their collective heads out of the a$$e$.

Companies come out leaner,meaner and smarter. People are more thrifty, hopefully community involved and instilled with what I call “traditional values” which have gotten a bad rap as of late due to the prevailing “progressive wisdom” which still has milk on its whiskers. Traditional values weren’t adopted due to their overwhelming warm and fuzzines, but because they work, they are tried and true.

So I don’t fear recessions. I’m a saver, frugal and hardworking with an eye for constant efficiency and innovation (which gets no respect in the boom times) but becomes revered in times like these. I have simple needs Family, friends, community and a good book are all I need for entertainment.

Maybe its time to slow down, take inventory on whats really important and rebuild this society on a foundation of true value and true values.

By: EasyLearnStockMarket

EasyLearnStockMarket — Sun, 11 Jan 2009 06:54:17 +0000

Just be careful to not set the precedent that you’ll work harder for less. I did this at a previous job, and even after times got better – new people brought in were making near or more what I was just to bring them in while I got “standard raises.”

Either way best of luck and congrats on the promotion.

-Bill

By: Mike Hunt

Mike Hunt — Sat, 10 Jan 2009 08:19:46 +0000

Congratulations on your promotion. Wow- on a way to be a millionaire as an Engineer and now a Manager. I’m a CEO of a small company and just achieved a net worth of a millionaire… mostly through salary savings.

Well done, and good luck. Do well and keep performing.

-Mike H.

By: Mike Hunt

Mike Hunt — Sat, 10 Jan 2009 08:19:35 +0000

Well done, and good luck. Do well and keep performing.

-Mike H.

By: Mike Hunt

Mike Hunt — Sat, 10 Jan 2009 08:19:20 +0000

Congratulations on your raise. Wow- on a way to be a millionaire as an Engineer and now a Manager. I’m a CEO of a small company and just achieved a net worth of a millionaire… mostly through salary savings.

Well done, and good luck. Do well and keep performing.

-Mike H.

By: Eric

Eric — Sat, 10 Jan 2009 03:40:19 +0000

Especially for the college graduates, now is the best time for people to realize that a job is not the most secure option you have. Figure out how doing what you love can make you money, and do it often. Don’t cling to a job like your entire self worth is attached to it. Peace.

By: thomas

thomas — Fri, 09 Jan 2009 04:59:10 +0000

That sucks. Be thankful that you still have a job, but take notice and make sure you are doing everything to make yourself desirable to employers.