I avoid the term “market rate” because it means too many different things to too many different people and in the worst case can perpetuate the problem of disparate pay based on location, exacerbating rural poverty.
This article from 2015 was enlightening: ernie.io/2015/12/05/market-rate-is.... It’s about Buffer’s open salary calculator and how two people doing the same work might be making vastly difference salaries because of where they live.
What term to use instead? I’m not sure. Markets are local, so maybe that term works at the neighborhood scale. Ultimately, though, it’s a concept that disadvantages one when negotiating, so it’s best to avoid it both as a candidate and as a hiring manager.
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I avoid the term “market rate” because it means too many different things to too many different people and in the worst case can perpetuate the problem of disparate pay based on location, exacerbating rural poverty.
This article from 2015 was enlightening: ernie.io/2015/12/05/market-rate-is.... It’s about Buffer’s open salary calculator and how two people doing the same work might be making vastly difference salaries because of where they live.
What term to use instead? I’m not sure. Markets are local, so maybe that term works at the neighborhood scale. Ultimately, though, it’s a concept that disadvantages one when negotiating, so it’s best to avoid it both as a candidate and as a hiring manager.