WeAAsles
Veteran
- Oct 20, 2007
- 23,465
- 5,258
T5towbar said:We used to have that. It was called the "Market Rate Adjustment". The higher cost of living had a base of 1.00 more per hour. It was "red circled" out in the negotiations.
Many people in leadership positions are conflicted with the ideology behind a "Market Rate" or "Geographic Payscale". They think it dilutes the job and would rather have quality over quantity. I completely disagree with that sentiment.
There are far too many people I know working in hubs right now who would have gladly taken a cut in pay to have remained in the home or town they grew up in if that had been offered as an option to them.
I love to post this calculator as an example. If I lived in Brooklyn NY making $50,000 per year and wanted to move to DFW, my $50,000 is equal to a guy making $28,204. To go the opposite way and move from Dallas to Brooklyn to make the same in equal earnings I would need to make $88,638.
NYC of course being one of the more extreme examples.
http://money.cnn.com/calculator/pf/cost-of-living/