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Guys, my friend had her last working day last week and she thinks she forgot to fill her timesheet for her last 2 days before handing over the laptop. What can be the consequences of this? She is really worried about this
P.S she belongs to a back end team serving the firm internally charging time on only one code.
PwC India Pwc AC
Rising Star
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All right people. LET'S FILE SOME TAX RETURNS.
Which one of you wrote this? The feels...
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Not sure less people in poverty is a guarantee. Likely see fewer jobs as employers will run leaner rather than push prices up.
This is exactly right and this is what people just don’t understand!!! 🤦🏽
Chief
If the increase is done rapidly a lot of small business will suffer. A lot of small business can’t take a rapid increase in payroll rn. If the change is gradual, let’s say the state minimum is $10 and we increase it by a dollar over 5 years to get to $15, less business will take a hit but it won’t save them all. Let’s be honest the big companies can afford the increase in their payroll but the small mom and pop shops can’t, not unless they increase the cost of their products or services. I think you will see more rapid inflation because of this. Also even though the big companies can afford to increase their payroll doesn’t necessarily mean they want to. They will prob slash jobs, which will impact the customer experience, or they will find ways to automate jobs away.
EY4 just proved why the government assistance is bad. Because once you start it it justifies it never ending and always growing
Salaries increasing, unlikely. Let’s be real the US is greedy, which is why wages have stayed stagnant for as long as they have.
Rising Star
No, it wouldn’t
Pro
Higher wages = Higher cost for employers
Higher cost for employers = raise prices to cover costs
OR
Higher cost for employers = reduce cost by laying people off
Raise prices to cover costs = that $15 doesn’t go as far
That $15 doesn’t go as far = the same people are in poverty
Get laid off = make more money than you would making $15 because unemployment is so great right now.
TLDR - they should raise minimum wage so people can get laid off and make more money than they would have with the higher minimum wage.
PwC 5...let me say this a little louder so you can hear. PEOPLE SHOULD EARN A LIVING WAGE. ANYONE WORKING FULL TIME SHOULD HAVE A COMFORTABLE LIFE, KEEP FOOD ON THE TABLE WITHOUT WORRY, PROVIDE DECENT SHELTER, NECESSITIES AND HEALTHCARE FOR THEIR FAMILY WITHOUT WORRY. IF A COMPANY’S EMPLOYEES ARE NOT MAKING A LIVING WAGE BUT AT THE SAME TIME PEOPLE AT THE TOP ARE MAKING MILLIONS UPON MILLIONS UPON MILLIONS, THEN THAT IS WRONG....Without the employees, there would be no company.
The one thing I don’t understand is that prices of everything have gone up regardless of wages going up so I don’t understand why an increase in wages “has” to mean an increase of prices outside of just greediness. Some people in upper management, BOD, etc don’t want the pay cut that is needed for the increase in wages and that’s the problem. Too many people are happy and comfortable with getting paid 10-15x more than employees who should also deserve to get paid more.
This obviously doesn’t apply to small businesses because things are a little different.
Well that’s exactly right! The only way to raise wages without large companies laying people off or being on their financial strain would be to reduce other peoples’ pay!!
Rising Star
Seattle implemented a minimum wage of $15 years ago. The results have been studied quite a bit and are not as straightforward as people think they would be. It’s not as simple as some who say increasing wages means prices go up and everyone goes out to business. It’s also not as simple to think there would be no adverse consequences either. It’s a mixed bag.
https://www.google.com/amp/s/www.cnbc.com/amp/2020/01/02/seattle-passed-a-15-minimum-wage-law-in-2014-heres-how-its-turned-out-so-far.html
My opinion on minimum wage increases is not relevant to the thread - but no, our salaries aren’t going to increase. Important to remember that it’s not going to $15/hour immediately. It’s over a five year period with a dollar or two a year. We’ll probably see some small price increases on things but it won’t be drastic.
I think small independent business owners, especially in MCOL and LCOL will see hardships to compete with large biz with an increase in wage and potentially increase in tax ... although tax seems to be fairly dependent on status atm
Although slightly dated now, there is a pretty famous paper by Card and Krueger about minimum wage increases, specifically between fast food restaurants in NJ and PA (study across state lines). Recommend you taking a read, as it's a paper that many econ undergrads read when discussing this sort of topic. Tl;Dr version is that the empirical results don't support the notion that increase in minimum wages lead to reduced employment.
There will actually be more people in poverty. Workers getting $7.50 an hour will have to get 15, so they will have to cut the number of workers in half in order to keep their budget from increasing. In an ideal world, CEOs and corporate fat cats would reduce their own pay so that their low wage workers could get paid more. but that’s never going to happen. Instead CEOs etc. will keep their own pay high and cut the number of workers they employ in half so that their expenses don’t increase