Question
In 2016, a company hired several college graduates for sales jobs at a yearly salary of $47,000 plus travel expenses. By 2020, most of these
In 2016, a company hired several college graduates for sales jobs at a yearly salary of $47,000 plus travel expenses. By 2020, most of these salespeople were making a salary of about $57,000 a year, plus travel expenses. In 2020, the same company hired more graduates and paid them $56,000 a year. Thus, the people with no experience received almost the same pay as those with 4-yrs experience.
The experience people started to complain that it has taken them 4-yrs to get to this level of salary and it's not fair that a new hire comes in at close to the same salary.
How would you remedy the situation?
What is compression in wages and how do you mitigate the issue?
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