Inflation… what inflation?

[an]

https://news.yahoo.com/bank-america-raise-minimum-hourly-152918432.html#:~:text=Context%3A%20Bank%20of%20America%20raised%20its%20minimum%20hourly,chief%20human%20resources%20officer%20at%20Bank%20of%20America.

I don’t expect they’ll be the only one.

[sdrealtor]

Wow and good to see. Bank tellers are notoriously underpaid. At $25/hr that would be a $50k/yr job

[Coronita]

In the long run. If wages go up for one group, wouldn’t all wages eventually go up. And then when costs go up there, don’t all costs go up everywhere else. Rents go up… materials goes up…etc??

So in the end long run, everyone is still relatively the same to each other as everyone else, no?

with maybe the exception that
1. Debtors of fixed rate loans win big
2. Creditors of fixed rate loans lose big
3. People that parked their assets in fixed income get screwed….

[The-Shoveler]

I bought my first new car in 1976, by the time I paid it off in 1979 I could have sold it for about the same or maybe a little more than I paid.

Another inflation story. My friend who was married to someone from brazil told me his father in-law bought a boat a few years later it cost more for a new set of spark plugs than what the boat originally cost.

[spdrun]

Tellers, what tellers? They’ll turn their business model into Internet banking, with physical locations only for personal service if you’re high net worth. Cash? Who needs cash? Who needs privacy? They’re “temporarily” closed a bunch of branches in the past year, and the closures are becoming permanent.

Pay $25 an hour by firing 75% of those who make less, and save on property taxes/rental fees to boot. Automation, baby.

I’ll stick with a bank that will reimburse my ATM fees and where I can walk to a physical location. I love how cash feels running through my fingers. The delicious feeling of privacy and lack of accountability.

[Coronita]

[quote=The-Shoveler]I bought my first new car in 1976, by the time I paid it off in 1979 I could have sold it for about the same or maybe a little more than I paid.[/quote]

Actually, that’s a similar situation right now for a lot of used cars.

A lot of preowned cars that my friends bought in 2018 are selling for the same price or more in 2021

There’s a couple of reasons for this.
1. Supply chain issues have reduced the number of available new cars. Some previous low volume production cars are now even harder to find.

2. Because of new car supply issues, lots people are either staying in their cars longer or if they really need a car, buying more preowned…So that’s reducing preowned supply

3. Rental car companies are also finding they can’t get their new car allocation, so some of them are going to the preowned markets and buying preowned cars and putting them in their rental fleet. That’s also driving supply down.

You can also learn a lot of this from miatas. You can’t find a first generation miata easily these days… They officially moved from the “cheap crappy dumpy sportish car” to the “collectible” designation..

Pandemic purchases: Hagerty lists most popular cars

[scaredyclassic]

[quote=spdrun]Tellers, what tellers? They’ll turn their business model into Internet banking, with physical locations only for personal service if you’re high net worth. Cash? Who needs cash? Who needs privacy? They’re “temporarily” closed a bunch of branches in the past year, and the closures are becoming permanent.

Pay $25 an hour by firing 75% of those who make less, and save on property taxes/rental fees to boot. Automation, baby.

I’ll stick with a bank that will reimburse my ATM fees and where I can walk to a physical location. I love how cash feels running through my fingers. The delicious feeling of privacy and lack of accountability.[/quote]

I only go to prostitutes that accept venmo.

[an]

As more and more companies are going 100% remote, we probably will see salary inflation for engineers in San Diego as they work for other companies not in San Diego. I saw this from one of the recruiter in my LinkedIn Circle.
[img_assist|nid=27371|title=job opening|desc=|link=node|align=left|width=100|height=74]

[Anonymous]

Not sure why you think that would raise salaries in San Diego in particular. That looks like Bay Area type salaries you are referencing. If anyone in the world is a possible candidate for those jobs, what makes you think Engineers in San Diego would have any leg up on getting those jobs?

On the other hand, if I were a Bay area company and willing for my employee to live somewhere else, why would I pay them Bay Area salary, doesn’t make sense. Just like all the software work that is off-shored to India. Of course US companies don’t offer the Indian engineers local wages to work in India.

[an]

The 2nd sentence say 100% remote. We have no idea where the company head quarter is and we don’t care, since it’s 100% remote. For all we know, they don’t even have an office.

BTW, how do you know that’s bay area pay?

[Anonymous]

[quote=an]The 2nd sentence say 100% remote. We have no idea where the company head quarter is and we don’t care, since it’s 100% remote. For all we know, they don’t even have an office.

BTW, how do you know that’s bay area pay?[/quote]

No idea if that is Bay area pay, just picked that as an example cause it looked like higher salaries than are typical in San Diego.

But either way, I don’t see the logic that remote work would increase salaries, or that my company would pay me my San Diego salary, for example, if I chose to remote work from Arkansas. If that option was widely available, I guarantee a crap ton of folks would leave San Diego.

[an]

[quote=deadzone][quote=an]The 2nd sentence say 100% remote. We have no idea where the company head quarter is and we don’t care, since it’s 100% remote. For all we know, they don’t even have an office.

BTW, how do you know that’s bay area pay?[/quote]

No idea if that is Bay area pay, just picked that as an example cause it looked like higher salaries than are typical in San Diego.

But either way, I don’t see the logic that remote work would increase salaries, or that my company would pay me my San Diego salary, for example, if I chose to remote work from Arkansas. If that option was widely available, I guarantee a crap ton of folks would leave San Diego.[/quote]
If you say so

[Anonymous]

[quote=an][quote=deadzone][quote=an]The 2nd sentence say 100% remote. We have no idea where the company head quarter is and we don’t care, since it’s 100% remote. For all we know, they don’t even have an office.

BTW, how do you know that’s bay area pay?[/quote]

No idea if that is Bay area pay, just picked that as an example cause it looked like higher salaries than are typical in San Diego.

But either way, I don’t see the logic that remote work would increase salaries, or that my company would pay me my San Diego salary, for example, if I chose to remote work from Arkansas. If that option was widely available, I guarantee a crap ton of folks would leave San Diego.[/quote]
If you say so[/quote]

No, if you say so. You are the one coming to an illogical assumption.

Look I would love to get a salary increase for working from home too. But not holding my breath it’s going to happen.

[an]

[quote=deadzone][quote=an][quote=deadzone][quote=an]The 2nd sentence say 100% remote. We have no idea where the company head quarter is and we don’t care, since it’s 100% remote. For all we know, they don’t even have an office.

BTW, how do you know that’s bay area pay?[/quote]

No idea if that is Bay area pay, just picked that as an example cause it looked like higher salaries than are typical in San Diego.

But either way, I don’t see the logic that remote work would increase salaries, or that my company would pay me my San Diego salary, for example, if I chose to remote work from Arkansas. If that option was widely available, I guarantee a crap ton of folks would leave San Diego.[/quote]
If you say so[/quote]

No, if you say so. You are the one coming to an illogical assumption.

Look I would love to get a salary increase for working from home too. But not holding my breath it’s going to happen.[/quote]
You can apply for those positions and get the raise

[Coronita]

[quote=deadzone][quote=an][quote=deadzone][quote=an]The 2nd sentence say 100% remote. We have no idea where the company head quarter is and we don’t care, since it’s 100% remote. For all we know, they don’t even have an office.

BTW, how do you know that’s bay area pay?[/quote]

No idea if that is Bay area pay, just picked that as an example cause it looked like higher salaries than are typical in San Diego.

But either way, I don’t see the logic that remote work would increase salaries, or that my company would pay me my San Diego salary, for example, if I chose to remote work from Arkansas. If that option was widely available, I guarantee a crap ton of folks would leave San Diego.[/quote]
If you say so[/quote]

No, if you say so. You are the one coming to an illogical assumption.

Look I would love to get a salary increase for working from home too. But not holding my breath it’s going to happen.[/quote]

Um….I’ve been trying to hire people. My company is cheap based out of florida, where’s suppose to be cheaper to hire and there’s no state income tax. My company has come to the following 2 conclusions

1) Top talent cannot be easily acquired in Florida alone

2) While it’s been proven at my company that we can get remote workers to work (especially SDET), no one outside of florida is going to join our company if we continue to only pay florida wages. Because top talent will find a higher paying remote job…

I was just authorized today to bump up the range of mid-level mobile engineers by quite a bit to stay competitive, above what my San Diegan engineers (which already were pretty well paid) is. The truth of the matter is I don’t see many of the remote workers running for cover in florida. most of them are choosing to stay where they currently are here in some being in SD, even if dollar for dollar they might be better off in Florida without paying for state income taxes.

The feedback is they are happy they can remain where they are for various reasons.. Most have family and kids to think about and don’t want to uproot their entire family. Most people have settled here and have their homes here, and their cost of living, for practical purposes is fixed given that they decided to buy a house years ago. In fact, now having a remote higher paying job allows them to remain where there are and not worry about the limited job prospects of only a local San Diego job market previously was available. It seems like the only ones that are really talking about leaving San Diego among peers are the ones who are getting left behind who still have limited career prospects and for which the side effects of remote working from the pandemic economy they did not benefit from and who’s cost of living (mainly housing) is no longer obtainable and struggling… Hourly, non-tech, non-remote-available comparable jobs.

There is an influx of highly paid workers from higher cost areas that think San Diego is cheap for what they are use to paying and the climate, schools, weather, etc and for them, this cost of living compared to what they were previously use to as their cost of living, is considered much more affordable. My tenants for instance have been with their LA companies for several years, and previously remote work was not an option for them. Now that is is, they will continue to reap their higher paid salary from LA company and be able to live in a much more affordable san diego (in terms of for the same amount they pay for housing in LA, they are getting a heck of a lot more down here).

[Author]

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