Employers demonstrated their infidelity to their staff by paying loyal workers, on average, 7% less than new hires — 20 years ago, salaries were largely the same between new and longtime employees.
Employers demonstrated their infidelity to their staff by paying loyal workers, on average, 7% less than new hires — 20 years ago, salaries were largely the same between new and longtime employees.
Younger Silent and older Boomers definitely got the biggest shaft of all. This was the group of people who were promised a pension and regular retirement. Then the idiots who manage the companies ran them into bankruptcy and got business-friendly bankruptcy judges to dissolve the pensions, leaving retired and retiring people with nothing to fall back on. Younger Boomers looked at that and went “sounds good to me!”.