We have to applaud Reddit for their compensation strategy.
Every company that does this puts upward pressure on wages throughout the company.
The scenario where every company goes remote simultaneously is what we are witnessing play out. That means workers in every major city will have a 1000 different businesses to offer their skills to. The businesses that offer ‘local salary’ cuts will be on the lower end of people’s interest.
This still might be very bad for innovation (missing a critical mass of a range of experts accidentally trying new things in SV), but it may be very good for increasing wages in non costal cities (and the knock on effects that positively has on the communities there).
Every company that does this puts upward pressure on wages throughout the company.
The scenario where every company goes remote simultaneously is what we are witnessing play out. That means workers in every major city will have a 1000 different businesses to offer their skills to. The businesses that offer ‘local salary’ cuts will be on the lower end of people’s interest.
This still might be very bad for innovation (missing a critical mass of a range of experts accidentally trying new things in SV), but it may be very good for increasing wages in non costal cities (and the knock on effects that positively has on the communities there).