this post was submitted on 01 Feb 2024
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The other thing I always tell people is every year you don’t get a raise that’s at least equal to inflation you’re getting a pay cut. Finding a job that does cost of living increases every year is a huge benefit.
My company generally gives yearly raises, and before 2020 they were usually pretty generous. The last few years though, they haven't even come close to matching inflation.
And you are getting a relative pay cut. Doing the same amount of work, but the money you take home doesn’t go as far.