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(Fortune)   Time to break out the tiny violin for Bank of America's CEO, who's going home to cry over the labor shortage in his big pile of guaranteed money   (fortune.com) divider line
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929 clicks; posted to Business » on 22 Jan 2022 at 12:50 PM (17 weeks ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook



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2022-01-22 10:49:58 AM  
Supply and demand is a biatch, ya know? Funny though, there are lots of wiling and talented execs who could replace him for far less compensation yet that never happens for some reason.
 
2022-01-22 12:32:00 PM  
In an effort to make Bank of America more competitive as an employer, Moynihan said he raised wages. Total compensation expenses for the bank grew 10% last year

...but meanwhile...
Fark user imageView Full Size


People want to work, just not for assholes like you.
 
2022-01-22 12:56:13 PM  

edmo: Supply and demand is a biatch, ya know? Funny though, there are lots of wiling and talented execs who could replace him for far less compensation yet that never happens for some reason.


I always wondered:  if companies can get away with paying women and POC less than white men (even though it's illegal), why wouldn't they hire way more women/POC and save a ton of money?
 
2022-01-22 1:00:07 PM  
Bullshiat.  This is just a cover for "automation hasn't caught up yet"
 
2022-01-22 1:04:09 PM  

austerity101: edmo: Supply and demand is a biatch, ya know? Funny though, there are lots of wiling and talented execs who could replace him for far less compensation yet that never happens for some reason.

I always wondered:  if companies can get away with paying women and POC less than white men (even though it's illegal), why wouldn't they hire way more women/POC and save a ton of money?


Because in their small mind, they are not worth it even with the discount.
 
2022-01-22 1:05:48 PM  

padraig: austerity101: edmo: Supply and demand is a biatch, ya know? Funny though, there are lots of wiling and talented execs who could replace him for far less compensation yet that never happens for some reason.

I always wondered:  if companies can get away with paying women and POC less than white men (even though it's illegal), why wouldn't they hire way more women/POC and save a ton of money?

Because in their small mind, they are not worth it even with the discount.


Yeah. I mean, it's still a boy's club. Seems like labor costs don't matter when it's about giving your fellow bros a leg up or whatever.
 
2022-01-22 1:06:09 PM  

austerity101: edmo: Supply and demand is a biatch, ya know? Funny though, there are lots of wiling and talented execs who could replace him for far less compensation yet that never happens for some reason.

I always wondered:  if companies can get away with paying women and POC less than white men (even though it's illegal), why wouldn't they hire way more women/POC and save a ton of money?


I'm not at all surprised you have no understanding how the "system" works.
 
2022-01-22 1:07:16 PM  
Companies like McDonald's depending on retirees for cheap and exploitable labor as well as young adults they use this to keep their labor Supply flush and their payroll suppressed. These companies have been reading a lot of profits from exploitation of the public coffers and the people.

Kids of learn the value of their labor in the elderly don't want to die to get you a cheeseburger. Maybe you should start paying people enough money for them to do a job for you and they will still work for you if not make due and downsize
 
2022-01-22 1:16:16 PM  

BumpInTheNight: In an effort to make Bank of America more competitive as an employer, Moynihan said he raised wages. Total compensation expenses for the bank grew 10% last year

...but meanwhile...
[Fark user image image 522x157]

People want to work, just not for assholes like you.


Do you know what the minimum wage is for bank of america? Compare that minimum wage to the local credit union.
 
2022-01-22 1:19:53 PM  

mistahtom: Bullshiat.  This is just a cover for "automation hasn't caught up yet"


I remember 20 years ago my bank trying to change me a fee if I wanted to speak to a real teller at the bank. I doubt that fee went towards automation, part of it likely went to staffing, the rest was profit.

This was in college and luckily at one point, I had another college student as a teller ask me point blank, "Why do you have this terrible plan/account?" And just put me into a better setup (without said fee).
 
2022-01-22 1:34:35 PM  
He cited the decline in U.S. birth rates as a key factor in the current labor shortage.

"The population growth rate has fallen in half during the last decade and we just don't have enough people now," Moynihan said.


I wasn't aware Bank of America relied on so many teenagers to keep running.
 
2022-01-22 1:43:10 PM  

Jensaarai: He cited the decline in U.S. birth rates as a key factor in the current labor shortage.

"The population growth rate has fallen in half during the last decade and we just don't have enough people now," Moynihan said.

I wasn't aware Bank of America relied on so many teenagers to keep running.


The businesses that hire the students bank there.
 
2022-01-22 2:00:26 PM  
Starting wages at the bank now average $44,000 annually with full benefits, Moynihan pointed out.

That's still way too low dude. And if that's the average starting wage, I'm guessing starting execs are making way more than that, meaning they're distorting the average, and tellers are making around $35k starting. That's poverty levels.
 
2022-01-22 2:21:55 PM  
Total compensation expenses for the bank grew 10% last year to $36.1 billion. Starting wages at the bank now average $44,000 annually with full benefits, Moynihan pointed out.

1. When you hear "total compensation" in a discussion about wages, realize that this is a business trying to lie to you.
2. A median wage of $44K a year, in a company that size, is farking horrifying. That's about $21.15 an hour. The lowest earners make less than $23,000 a year at Bank of America - that's about 11.06 an hour, and less than minimum wage in multiple states. This asshole's touting that median like it matters.
3. That median wage is to what he RAISED IT, which means it was 10% less than that before 2021.
 
2022-01-22 2:28:23 PM  

FormlessOne: Total compensation expenses for the bank grew 10% last year to $36.1 billion. Starting wages at the bank now average $44,000 annually with full benefits, Moynihan pointed out.

1. When you hear "total compensation" in a discussion about wages, realize that this is a business trying to lie to you.
2. A median wage of $44K a year, in a company that size, is farking horrifying. That's about $21.15 an hour. The lowest earners make less than $23,000 a year at Bank of America - that's about 11.06 an hour, and less than minimum wage in multiple states. This asshole's touting that median like it matters.
3. That median wage is to what he RAISED IT, which means it was 10% less than that before 2021.


The minimum wage at bank of america is 21 dollars an hour. What is it at the credit union?
 
2022-01-22 2:28:26 PM  

BumpInTheNight: In an effort to make Bank of America more competitive as an employer, Moynihan said he raised wages. Total compensation expenses for the bank grew 10% last year

...but meanwhile...
[Fark user image 522x157]

People want to work, just not for assholes like you.


And, again, "total compensation" != "wages." That "total compensation" takes into account the lavish executive bonuses BoA handed out, and the incredibly lopsided wage curve, and the multiple compensation options given to the top earners at the company compared to the big ol' nothing the folks who make up the majority of their worker base get. Not to mention that everyone's healthcare costs went up, so if BoA's providing healthcare insurance benefits, they're rolling that increased cost into the "total compensation" bucket, too, and claiming that they're doing it for you (even as the amount employees have to pay went up this year, again for their shiatty medical plans.)

He's quite literally bragging about paying more to people already making more, and doing so under the cover of "total compensation"
 
2022-01-22 2:29:08 PM  

hoodiowithtudio: FormlessOne: Total compensation expenses for the bank grew 10% last year to $36.1 billion. Starting wages at the bank now average $44,000 annually with full benefits, Moynihan pointed out.

1. When you hear "total compensation" in a discussion about wages, realize that this is a business trying to lie to you.
2. A median wage of $44K a year, in a company that size, is farking horrifying. That's about $21.15 an hour. The lowest earners make less than $23,000 a year at Bank of America - that's about 11.06 an hour, and less than minimum wage in multiple states. This asshole's touting that median like it matters.
3. That median wage is to what he RAISED IT, which means it was 10% less than that before 2021.

The minimum wage at bank of america is 21 dollars an hour. What is it at the credit union?


...huh?

Median != minimum. The minimum is significantly lower than $21/hour.
 
2022-01-22 2:30:19 PM  

Moose out front: Starting wages at the bank now average $44,000 annually with full benefits, Moynihan pointed out.

That's still way too low dude. And if that's the average starting wage, I'm guessing starting execs are making way more than that, meaning they're distorting the average, and tellers are making around $35k starting. That's poverty levels.


Per Zippia, their bottom decile is at $23K.
 
2022-01-22 2:40:25 PM  
Sooooo ... pay your people more? Somehow there's no shortage of executive positions paying six figure salaries and seven figure bonuses.
 
2022-01-22 2:56:50 PM  

Moose out front: Starting wages at the bank now average $44,000 annually with full benefits, Moynihan pointed out.

That's still way too low dude. And if that's the average starting wage, I'm guessing starting execs are making way more than that, meaning they're distorting the average, and tellers are making around $35k starting. That's poverty levels.


Still applying for jobs here. A friend works for a credit union and told me to apply, told me he'd give me a referral/recommendation. Pays like $16/hr. That'd be enough so I'd like barely not slowly go homeless, maybe.

Still never got an interview. For as desperate as everyone says they are for workers, even the places with sh*tty pay don't wanna hire me. What the hell.

/I'm just so tired of this.
 
2022-01-22 3:07:11 PM  

FormlessOne: hoodiowithtudio: FormlessOne: Total compensation expenses for the bank grew 10% last year to $36.1 billion. Starting wages at the bank now average $44,000 annually with full benefits, Moynihan pointed out.

1. When you hear "total compensation" in a discussion about wages, realize that this is a business trying to lie to you.
2. A median wage of $44K a year, in a company that size, is farking horrifying. That's about $21.15 an hour. The lowest earners make less than $23,000 a year at Bank of America - that's about 11.06 an hour, and less than minimum wage in multiple states. This asshole's touting that median like it matters.
3. That median wage is to what he RAISED IT, which means it was 10% less than that before 2021.

The minimum wage at bank of america is 21 dollars an hour. What is it at the credit union?

...huh?

Median != minimum. The minimum is significantly lower than $21/hour.


https://newsroom.bankofamerica.com/content/newsroom/press-releases/2021/05/bank-of-america-increases-us-minimum-hourly-wage-to--25-by-2025.html

Did I misread that? Vendors are 15 per hour, within the bank proper, it was just changes to 21 per hour minimum wage, as in teller and up. Rheur benefits are fantastic for full time, including  4 months paid for a new family member and 20k adoption assistance, at the minimum
 
2022-01-22 3:16:11 PM  

hoodiowithtudio: Vendors are 15 per hour


Vendors on US soil, curiously absent is any mention of what are likely the legions of off-shored call center jobs for a start.

Any ways, for a company that increased its profits 28% last year, raising their median wage 10% and still biatching they can't find people is stunning lack of self-awareness and we're pointing our fingers at it and laughing.  Like the idiot who ties his shoes together and can't figure out why he keeps tripping.
 
2022-01-22 3:24:12 PM  

BumpInTheNight: hoodiowithtudio: Vendors are 15 per hour

Vendors on US soil, curiously absent is any mention of what are likely the legions of off-shored call center jobs for a start.

Any ways, for a company that increased its profits 28% last year, raising their median wage 10% and still biatching they can't find people is stunning lack of self-awareness and we're pointing our fingers at it and laughing.  Like the idiot who ties his shoes together and can't figure out why he keeps tripping.


I got the notion that Moynihan was talking about the market in general, not so much BOA. It just started getting hard for them because they weren't laying anyone off during the recession. It had been nearly impossible to get fired there, from reports if former co-workers, since the beginning of covid.
 
2022-01-22 3:45:57 PM  

edmo: Supply and demand is a biatch, ya know? Funny though, there are lots of wiling and talented execs who could replace him for far less compensation yet that never happens for some reason.


AND BILLIONAIRES SHOULD NOT EXIST
 
2022-01-22 3:47:46 PM  

edmo: Supply and demand is a biatch, ya know? Funny though, there are lots of wiling and talented execs who could replace him for far less compensation yet that never happens for some reason.


The CEO of my company has to take a certain amount of money. He's already rich beyond measure and could give a sh*t. He gives an ass ton of money to charity and actually tried to negotiate a LOWER salary because he thought it was obscene.

The board informed him they had to pay him $X million because any less than that and Wall Street and the Angel Investors would think something was badly wrong with the company otherwise.

The system perpetuates itself.
 
2022-01-22 3:49:11 PM  

austerity101: Moose out front: Starting wages at the bank now average $44,000 annually with full benefits, Moynihan pointed out.

That's still way too low dude. And if that's the average starting wage, I'm guessing starting execs are making way more than that, meaning they're distorting the average, and tellers are making around $35k starting. That's poverty levels.

Still applying for jobs here. A friend works for a credit union and told me to apply, told me he'd give me a referral/recommendation. Pays like $16/hr. That'd be enough so I'd like barely not slowly go homeless, maybe.

Still never got an interview. For as desperate as everyone says they are for workers, even the places with sh*tty pay don't wanna hire me. What the hell.

/I'm just so tired of this.


Become a budtender. It's a growth industry.

/ sorry
 
2022-01-22 3:56:15 PM  

Visual Howlaround Title Sequence: austerity101: Moose out front: Starting wages at the bank now average $44,000 annually with full benefits, Moynihan pointed out.

That's still way too low dude. And if that's the average starting wage, I'm guessing starting execs are making way more than that, meaning they're distorting the average, and tellers are making around $35k starting. That's poverty levels.

Still applying for jobs here. A friend works for a credit union and told me to apply, told me he'd give me a referral/recommendation. Pays like $16/hr. That'd be enough so I'd like barely not slowly go homeless, maybe.

Still never got an interview. For as desperate as everyone says they are for workers, even the places with sh*tty pay don't wanna hire me. What the hell.

/I'm just so tired of this.

Become a budtender. It's a growth industry.

/ sorry


I've thought about this! My former roommate (the only one of the lot I still talk to) works at one. But I don't smoke pot, so I feel like I'm not going to be very helpful in-store.
 
2022-01-22 4:04:32 PM  

austerity101: Visual Howlaround Title Sequence: austerity101: Moose out front: Starting wages at the bank now average $44,000 annually with full benefits, Moynihan pointed out.

That's still way too low dude. And if that's the average starting wage, I'm guessing starting execs are making way more than that, meaning they're distorting the average, and tellers are making around $35k starting. That's poverty levels.

Still applying for jobs here. A friend works for a credit union and told me to apply, told me he'd give me a referral/recommendation. Pays like $16/hr. That'd be enough so I'd like barely not slowly go homeless, maybe.

Still never got an interview. For as desperate as everyone says they are for workers, even the places with sh*tty pay don't wanna hire me. What the hell.

/I'm just so tired of this.

Become a budtender. It's a growth industry.

/ sorry

I've thought about this! My former roommate (the only one of the lot I still talk to) works at one. But I don't smoke pot, so I feel like I'm not going to be very helpful in-store.


You like helping people though, so I can see it.

Plenty of people work jobs that they don't care about the product they sell.
 
2022-01-22 4:17:28 PM  

BumpInTheNight: In an effort to make Bank of America more competitive as an employer, Moynihan said he raised wages. Total compensation expenses for the bank grew 10% last year

...but meanwhile...
[Fark user image 522x157]

People want to work, just not for assholes like you.


I'm old enough (yeah, I know) to remember when banks paid 5% interest on savings. Savings, not a 90 day CD.

Thanks, Reagan (you asshole).

If you can't make a profit taking in money an paying x% interest, then lending it at x+delta% interest, you're paying your execs too much.
 
2022-01-22 4:22:34 PM  

austerity101: Visual Howlaround Title Sequence: austerity101: Moose out front: Starting wages at the bank now average $44,000 annually with full benefits, Moynihan pointed out.

That's still way too low dude. And if that's the average starting wage, I'm guessing starting execs are making way more than that, meaning they're distorting the average, and tellers are making around $35k starting. That's poverty levels.

Still applying for jobs here. A friend works for a credit union and told me to apply, told me he'd give me a referral/recommendation. Pays like $16/hr. That'd be enough so I'd like barely not slowly go homeless, maybe.

Still never got an interview. For as desperate as everyone says they are for workers, even the places with sh*tty pay don't wanna hire me. What the hell.

/I'm just so tired of this.

Become a budtender. It's a growth industry.

/ sorry

I've thought about this! My former roommate (the only one of the lot I still talk to) works at one. But I don't smoke pot, so I feel like I'm not going to be very helpful in-store.


You are selling a product that brings people relaxation and therapy. Frankly, it is almost better that you don't smoke.
 
2022-01-22 4:30:59 PM  
Tiny violin or enormous guillotine?
 
2022-01-22 4:43:36 PM  
"'We don't have enough people now' and those who quit aren't coming back"

Maybe this jelloheaded moron should sit his silk suit wearing ass down and think about why those people left.
That should give him the answer to his question. Or not, as he sleeps on his mattress filled with crumpled $100 bills.
 
2022-01-22 4:54:19 PM  
This is not an announcement to lament the lack of labour, it's to crow how they will no longer need it.
 
2022-01-22 5:08:18 PM  
Fark user imageView Full Size


Fark user imageView Full Size


Fark user imageView Full Size
 
2022-01-22 5:28:31 PM  

Moose out front: Starting wages at the bank now average $44,000 annually with full benefits, Moynihan pointed out.

That's still way too low dude. And if that's the average starting wage, I'm guessing starting execs are making way more than that, meaning they're distorting the average, and tellers are making around $35k starting. That's poverty levels.


...35k starting is, assuming 52 weeks paid per year and 40 hours a week, $16.80 an hour.  If that's poverty, then half the country is in poverty.  Hell, up until last year, I was in poverty by that definition.

It ain't great money, but it's far better than bagging groceries or running a machine in a factory nowadays...
 
2022-01-22 5:32:15 PM  

austerity101: Visual Howlaround Title Sequence: austerity101: Moose out front: Starting wages at the bank now average $44,000 annually with full benefits, Moynihan pointed out.

That's still way too low dude. And if that's the average starting wage, I'm guessing starting execs are making way more than that, meaning they're distorting the average, and tellers are making around $35k starting. That's poverty levels.

Still applying for jobs here. A friend works for a credit union and told me to apply, told me he'd give me a referral/recommendation. Pays like $16/hr. That'd be enough so I'd like barely not slowly go homeless, maybe.

Still never got an interview. For as desperate as everyone says they are for workers, even the places with sh*tty pay don't wanna hire me. What the hell.

/I'm just so tired of this.

Become a budtender. It's a growth industry.

/ sorry

I've thought about this! My former roommate (the only one of the lot I still talk to) works at one. But I don't smoke pot, so I feel like I'm not going to be very helpful in-store.


"Wagner's music is better than it sounds." - is all you have to say in context.  There are bartenders that do not drink, yet they just share customer feedback on a product.

You ain't gotta smoke it; just sell it.

good luck out there on the job hunt!
 
2022-01-22 6:03:21 PM  
Pay people what they are worth.

Stop placing bullshiat job openings on job service websites with no intention of actually hiring anybody.

Stop using job applications as a reminder that you accidentally left a bullshiat job opening on a job services website.

Post realistic wage expectations in your job descriptions so people looking for the jobs know whether they are wasting their time or not.

farking pay people what they are farking worth.
 
2022-01-22 6:04:06 PM  

IlGreven: Moose out front: Starting wages at the bank now average $44,000 annually with full benefits, Moynihan pointed out.

That's still way too low dude. And if that's the average starting wage, I'm guessing starting execs are making way more than that, meaning they're distorting the average, and tellers are making around $35k starting. That's poverty levels.

...35k starting is, assuming 52 weeks paid per year and 40 hours a week, $16.80 an hour.  If that's poverty, then half the country is in poverty.  Hell, up until last year, I was in poverty by that definition.

It ain't great money, but it's far better than bagging groceries or running a machine in a factory nowadays...


I hate to break it to you, but that wage is practically poverty level wage earnings these days.
 
2022-01-22 6:33:07 PM  

IlGreven: Moose out front: Starting wages at the bank now average $44,000 annually with full benefits, Moynihan pointed out.

That's still way too low dude. And if that's the average starting wage, I'm guessing starting execs are making way more than that, meaning they're distorting the average, and tellers are making around $35k starting. That's poverty levels.

...35k starting is, assuming 52 weeks paid per year and 40 hours a week, $16.80 an hour.  If that's poverty, then half the country is in poverty.  Hell, up until last year, I was in poverty by that definition.

It ain't great money, but it's far better than bagging groceries or running a machine in a factory nowadays...


It is.  You were.

Rents start at $1k a month for anything not a shiathole.  At $35k a year that means you're spending 8 days of your monthly wages on rent.
 
2022-01-22 6:42:42 PM  

austerity101: edmo: Supply and demand is a biatch, ya know? Funny though, there are lots of wiling and talented execs who could replace him for far less compensation yet that never happens for some reason.

I always wondered:  if companies can get away with paying women and POC less than white men (even though it's illegal), why wouldn't they hire way more women/POC and save a ton of money?


You realize this is the number one argument for right wingers trying to make the case that employment and wage discrimination don't exist, right?
 
2022-01-22 6:46:26 PM  
It was never a labor shortage. It's always been a wage shortage. If you continue to use their nomenclature, they'll continue to control the conversation.
 
2022-01-22 6:47:14 PM  

IlGreven: Moose out front: Starting wages at the bank now average $44,000 annually with full benefits, Moynihan pointed out.

That's still way too low dude. And if that's the average starting wage, I'm guessing starting execs are making way more than that, meaning they're distorting the average, and tellers are making around $35k starting. That's poverty levels.

...35k starting is, assuming 52 weeks paid per year and 40 hours a week, $16.80 an hour.  If that's poverty, then half the country is in poverty.  Hell, up until last year, I was in poverty by that definition.

It ain't great money, but it's far better than bagging groceries or running a machine in a factory nowadays...


I have news for you...
 
2022-01-22 7:38:49 PM  
Fark user imageView Full Size
 
2022-01-22 9:48:36 PM  

Goimir: IlGreven: Moose out front: Starting wages at the bank now average $44,000 annually with full benefits, Moynihan pointed out.

That's still way too low dude. And if that's the average starting wage, I'm guessing starting execs are making way more than that, meaning they're distorting the average, and tellers are making around $35k starting. That's poverty levels.

...35k starting is, assuming 52 weeks paid per year and 40 hours a week, $16.80 an hour.  If that's poverty, then half the country is in poverty.  Hell, up until last year, I was in poverty by that definition.

It ain't great money, but it's far better than bagging groceries or running a machine in a factory nowadays...

It is.  You were.

Rents start at $1k a month for anything not a shiathole.  At $35k a year that means you're spending 8 days of your monthly wages on rent.


Rent only starts at $1000/month in large metro areas. Half this country lives in areas where $1000/month would get you a nice apartment, not a basic one.

For instance:
http://rentoakhill.com/HillAvenue.htm
 
2022-01-22 9:53:36 PM  

137 Is An Excellent Time: Goimir: IlGreven: Moose out front: Starting wages at the bank now average $44,000 annually with full benefits, Moynihan pointed out.

That's still way too low dude. And if that's the average starting wage, I'm guessing starting execs are making way more than that, meaning they're distorting the average, and tellers are making around $35k starting. That's poverty levels.

...35k starting is, assuming 52 weeks paid per year and 40 hours a week, $16.80 an hour.  If that's poverty, then half the country is in poverty.  Hell, up until last year, I was in poverty by that definition.

It ain't great money, but it's far better than bagging groceries or running a machine in a factory nowadays...

It is.  You were.

Rents start at $1k a month for anything not a shiathole.  At $35k a year that means you're spending 8 days of your monthly wages on rent.

Rent only starts at $1000/month in large metro areas. Half this country lives in areas where $1000/month would get you a nice apartment, not a basic one.

For instance:
http://rentoakhill.com/HillAvenue.htm


Luxury apartments are roughly $1000/month in the center of downtown.

https://www.lasalletoledo.com/floorplans.aspx

And Toledo isn't that small of a city ... it's only slightly less populous than Pittsburgh.
 
2022-01-22 9:54:40 PM  

137 Is An Excellent Time: Goimir: IlGreven: Moose out front: Starting wages at the bank now average $44,000 annually with full benefits, Moynihan pointed out.

That's still way too low dude. And if that's the average starting wage, I'm guessing starting execs are making way more than that, meaning they're distorting the average, and tellers are making around $35k starting. That's poverty levels.

...35k starting is, assuming 52 weeks paid per year and 40 hours a week, $16.80 an hour.  If that's poverty, then half the country is in poverty.  Hell, up until last year, I was in poverty by that definition.

It ain't great money, but it's far better than bagging groceries or running a machine in a factory nowadays...

It is.  You were.

Rents start at $1k a month for anything not a shiathole.  At $35k a year that means you're spending 8 days of your monthly wages on rent.

Rent only starts at $1000/month in large metro areas. Half this country lives in areas where $1000/month would get you a nice apartment, not a basic one.

For instance:
http://rentoakhill.com/HillAvenue.htm


The household income in Toledo is 37k. Household income.

When my wife and I graduated in 2008-2009 and were working bottom of the barrel jobs, our household income wasn't that low. That was a decade ago. During the height of one of the worst recessions since the great depression.
 
2022-01-22 10:00:09 PM  

Shakin_Haitian: 137 Is An Excellent Time: Goimir: IlGreven: Moose out front: Starting wages at the bank now average $44,000 annually with full benefits, Moynihan pointed out.

That's still way too low dude. And if that's the average starting wage, I'm guessing starting execs are making way more than that, meaning they're distorting the average, and tellers are making around $35k starting. That's poverty levels.

...35k starting is, assuming 52 weeks paid per year and 40 hours a week, $16.80 an hour.  If that's poverty, then half the country is in poverty.  Hell, up until last year, I was in poverty by that definition.

It ain't great money, but it's far better than bagging groceries or running a machine in a factory nowadays...

It is.  You were.

Rents start at $1k a month for anything not a shiathole.  At $35k a year that means you're spending 8 days of your monthly wages on rent.

Rent only starts at $1000/month in large metro areas. Half this country lives in areas where $1000/month would get you a nice apartment, not a basic one.

For instance:
http://rentoakhill.com/HillAvenue.htm

The household income in Toledo is 37k. Household income.

When my wife and I graduated in 2008-2009 and were working bottom of the barrel jobs, our household income wasn't that low. That was a decade ago. During the height of one of the worst recessions since the great depression.


I know you're not going to believe this, but that's the median income for the 20-40% quintile in this country. That's a wage level that nearly HALF this country subsists on.

It's also roughly the median household income of black families. Guess what we have a lot of?

Your relative wealth is not as common as you may think it is - especially among large cities with large minority populations.
 
2022-01-22 10:35:09 PM  

Shakin_Haitian: 137 Is An Excellent Time: Goimir: IlGreven: Moose out front: Starting wages at the bank now average $44,000 annually with full benefits, Moynihan pointed out.

That's still way too low dude. And if that's the average starting wage, I'm guessing starting execs are making way more than that, meaning they're distorting the average, and tellers are making around $35k starting. That's poverty levels.

...35k starting is, assuming 52 weeks paid per year and 40 hours a week, $16.80 an hour.  If that's poverty, then half the country is in poverty.  Hell, up until last year, I was in poverty by that definition.

It ain't great money, but it's far better than bagging groceries or running a machine in a factory nowadays...

It is.  You were.

Rents start at $1k a month for anything not a shiathole.  At $35k a year that means you're spending 8 days of your monthly wages on rent.

Rent only starts at $1000/month in large metro areas. Half this country lives in areas where $1000/month would get you a nice apartment, not a basic one.

For instance:
http://rentoakhill.com/HillAvenue.htm

The household income in Toledo is 37k. Household income.

When my wife and I graduated in 2008-2009 and were working bottom of the barrel jobs, our household income wasn't that low. That was a decade ago. During the height of one of the worst recessions since the great depression.


Plus, you have to live exist in Ohio.
 
2022-01-22 10:45:34 PM  

Shakin_Haitian: 137 Is An Excellent Time: Goimir: IlGreven: Moose out front: Starting wages at the bank now average $44,000 annually with full benefits, Moynihan pointed out.

That's still way too low dude. And if that's the average starting wage, I'm guessing starting execs are making way more than that, meaning they're distorting the average, and tellers are making around $35k starting. That's poverty levels.

...35k starting is, assuming 52 weeks paid per year and 40 hours a week, $16.80 an hour.  If that's poverty, then half the country is in poverty.  Hell, up until last year, I was in poverty by that definition.

It ain't great money, but it's far better than bagging groceries or running a machine in a factory nowadays...

It is.  You were.

Rents start at $1k a month for anything not a shiathole.  At $35k a year that means you're spending 8 days of your monthly wages on rent.

Rent only starts at $1000/month in large metro areas. Half this country lives in areas where $1000/month would get you a nice apartment, not a basic one.

For instance:
http://rentoakhill.com/HillAvenue.htm

The household income in Toledo is 37k. Household income.

When my wife and I graduated in 2008-2009 and were working bottom of the barrel jobs, our household income wasn't that low. That was a decade ago. During the height of one of the worst recessions since the great depression.


Dude, Toledo is a shiathole. There is a reason the wages there are so low. When Dollar Tree is the primary employer in the region you have a problem (slight exaggeration for comedic value).
 
2022-01-22 11:02:58 PM  

rummonkey: Shakin_Haitian: 137 Is An Excellent Time: Goimir: IlGreven: Moose out front: Starting wages at the bank now average $44,000 annually with full benefits, Moynihan pointed out.

That's still way too low dude. And if that's the average starting wage, I'm guessing starting execs are making way more than that, meaning they're distorting the average, and tellers are making around $35k starting. That's poverty levels.

...35k starting is, assuming 52 weeks paid per year and 40 hours a week, $16.80 an hour.  If that's poverty, then half the country is in poverty.  Hell, up until last year, I was in poverty by that definition.

It ain't great money, but it's far better than bagging groceries or running a machine in a factory nowadays...

It is.  You were.

Rents start at $1k a month for anything not a shiathole.  At $35k a year that means you're spending 8 days of your monthly wages on rent.

Rent only starts at $1000/month in large metro areas. Half this country lives in areas where $1000/month would get you a nice apartment, not a basic one.

For instance:
http://rentoakhill.com/HillAvenue.htm

The household income in Toledo is 37k. Household income.

When my wife and I graduated in 2008-2009 and were working bottom of the barrel jobs, our household income wasn't that low. That was a decade ago. During the height of one of the worst recessions since the great depression.

Dude, Toledo is a shiathole. There is a reason the wages there are so low. When Dollar Tree is the primary employer in the region you have a problem (slight exaggeration for comedic value).


We know. You're racist.

Toledo is like any large city in the US with a significant number of non-white people. You see the same "shiathole" arguments from every town and city in the American south where Black people make up 30% or more of the population. You see the same arguments about Detroit, Cleveland, Buffalo, and Syracuse - where, again, lots of non-white people live.

The answer shouldn't be denigrating areas that have large minority populations as "shiatholes," that's for damn sure.
 
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