Ray A. Smith
speaker
910 appearances
20 recordings
1 series
first heard Jun 2018
last heard Nov 2024
Ray A. Smith’s voice in public audio — every appearance, attributed to the second.
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Appearances
Companies are looking to attract people they think are coachable, people who can be paid less than industry veterans, but they can learn quickly and they can be coached on how to do those roles.
Exactly.
In some cases, companies are moving enterprise software jobs, for instance, or other kinds of jobs to less expensive cities.
In the past, they would have been in Chicago and San Francisco, and now they are in places like Cincinnati or St.
Louis, Missouri.
And that's just an indication that one way of resetting pay without actually lowering the salary specifically, but it's more...
the cost of living affects how much you're going to pay people in those cities.
Yeah, this shows that the balance of power has shifted back to employers and companies after a couple of years where the balance of power was more on the job seeker side, where they could command a lot more and get a lot more, including signing bonuses for roles.
And that was a changeover because of the pandemic and the need for workers and the overhiring that took place as well.
Now we're seeing that balance of power shift back to the employer and companies, and it remains to be seen how long that will last.
In some cases, job seekers are going to have to reset their pay expectations.
I talked with one job seeker who talked about having to lower what he hoped to get by $20,000 just because the job postings he was seeing had lowered their salary ranges.
So some job seekers may have to wake up to the fact that they have to reset what they're looking for in pay.
They tend to have a higher concentration of technology, health and financial firms, biohealth and science, for instance, as well as several universities.
And those universities are serving as pipelines for all those firms with locations there.
Fewer white collar workers are leaving jobs than there were a year ago or two years ago.
So there are fewer openings.
And also generative AI can handle a lot of the tasks entry level workers would perform.
So that means less need for college graduates to fill some of those entry level roles.
They tend to have a higher concentration of technology, health and financial firms, biohealth and science, for instance, as well as several universities.
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