It was CIBC that was sued.
ALL of them should have been
It was CIBC that was sued.
ALL of them should have been
It's funny, I was thinking about bank employees working 50 hrs but getting paid for 37.5 as a standard week vs. 50 hrs at minimum wage... Let's say bank employees get paid $14/hr vs. the $10.25 minimum wage. My employees don't work extra, if they are required to they get paid for it. I have rarely seen employees work extra in minimum wage jobs. When I worked in Mcdonalds and timmies as a teen we never stayed over and if we had to we were compensated for it always.
37.5 x $14.00 = $525.00
50 x $ 10.25 = $512.50
It's not too far apart and when you factor in minimum wage who is really better off.
I have at least 4 years of retail experience, 3 of it with Staples. I started at 8 and change. Officially part time so medical benefits and stuff wouldn't have to be paid. I begged my bosses for hours every week and managed to get close to full-time hours, sometimes more but never had benefits. Left Staples around $9.13 I think. This was one of the most stressful times of my life trying to stave off bankruptcy and dealing with a very sick gf. You can't live on that pay unless you are being supported.
I also have 5+ years working at a bank. I started at probably 26-28k/yr at level 2. My annual pay raises were never more than $200. My bonuses were always in the 1K-2K range. Every time GO transit raised the cost of fare it completely wiped out my annual increase. I've been a squeaky wheel and HR admits they will not pay cost of living increases. There is also an unofficial policy where they will not pay you more than 10-12% of your previous position no matter how many levels unless you manage to get VP approval for an exception. After a long time of trying I finally got a promotion on contract to try and get my foot in the door in a different department and ran into problems with acting and novice mgrs. My contract is up in May and I have a problem now because taking the risk also meant taking a position that wasn't a secondment. I managed to get a pay exemption and managed to stave off bankruptcy longer. Now I am really in trouble.
Last year the CEO published a letter where he wanted to ask the government (or did) to help contribute money so younger people could have some money to apply to savings. The idea was that the government would top up their pay.
Charity begins at home I say, and I sit and watch the executive managers with their multi-million dollar bonuses for playing golf, never a care in the world. Meanwhile a whole bunch of us are wage slaves.
Not everyone at a bank is a cocaine fueled investment banker or in the retail arm. There's many people that are cogs keeping the whole thing running.
You probably remember last year reading about how RBC was outsourcing their IT to India. Guess what, they weren't the only ones doing it. They were just the ones that got openly caught.
The executives outsource this and that and get their bonus. And it usually doesn't work out and it has to be undone. But by then they have moved on to some other cocaine fuelled binge.
This angers me. It should not be this way.
Which is still meaningless if the total income isn't enough to keep you housed, clothed, and fed.
Just a side note to this, I pay my general laborers 16 - 17 an hour depending on their job, and I can virtually never find competent staff. Drunk, late, mouthy, or just generally can't find a way to work. Weird. I'm not fanatical about this, but I have little patience hearing about people hating their minimum wage when I have such a hard time locating people to work for 16-17 an hour for unskilled labor. The only skill I need need is a clear criminal record and a good work ethic.
What I find funny is Walmart pays their employees more than minimum wage to start. as bad as they are (they are no where near ideal) they still do better than others. getting full time and benefits there requires an act of god combined with having the luck of the devil but it's still better than some employers.
Why do so many people sound like they are owed something? Or even owed a total income that is enough to pay the bills?
If you spent 3 years at Staples and only got a buck raise or 5 years at a bank and got next to nothing, then keep searching for something better. Learn more in demand skills and improve yourself. Change what you do entirely if it will earn more money. Find out what is in demand and what pays and go for it... sounds like you've got nothing to lose anyway.
If the company values your skills, they will pay for it, if they don't they will find someone else. If no one will work for the wages they are offering then they will be forced to pay more. The people that settle into working for low wages and sticking with it are causing the problem themselves. Use companies as they use you -- get the experiences you need to build a proper resume and move up or move on. You stagnating for 8 years for little money is your doing, no one else's.
Don't be scared of change (location, function, etc), don't be scared of work, and don't be scared to learn and you will make more than minimum wage.
Just a side note to this, I pay my general laborers 16 - 17 an hour depending on their job, and I can virtually never find competent staff. Drunk, late, mouthy, or just generally can't find a way to work. Weird. I'm not fanatical about this, but I have little patience hearing about people hating their minimum wage when I have such a hard time locating people to work for 16-17 an hour for unskilled labor. The only skill I need need is a clear criminal record and a good work ethic.
What I find funny is Walmart pays their employees more than minimum wage to start. as bad as they are (they are no where near ideal) they still do better than others. getting full time and benefits there requires an act of god combined with having the luck of the devil but it's still better than some employers.
It's funny, I was thinking about bank employees working 50 hrs but getting paid for 37.5 as a standard week vs. 50 hrs at minimum wage... Let's say bank employees get paid $14/hr vs. the $10.25 minimum wage. My employees don't work extra, if they are required to they get paid for it. I have rarely seen employees work extra in minimum wage jobs. When I worked in Mcdonalds and timmies as a teen we never stayed over and if we had to we were compensated for it always.
37.5 x $14.00 = $525.00
50 x $ 10.25 = $512.50
It's not too far apart and when you factor in minimum wage who is really better off.