Job Title Inflation to Rise
"Title inflation" isn't a new idea. The term has been around for a few decades and the idea has been around since the beginning of time, but it picks up serious momentum in economic downturns like this one. Companies can't boost salaries, so they offer up bigger and better titles to reward top performers. The New York Times reports:
Another round of title inflation may be at hand, because managers often dole out chiefdoms, directorships and vice presidencies in times of economic weakness as a substitute for raises and bonuses.
This year, Mr. Gross said, "employers will use the recognition value of a title" in lieu of pay increases.
If you get an inflated title rather than a salary increase, think of it like a promotion—it's nice for the resume and a boon when introducing yourself at cocktail parties.
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Reader Comments
Job Title Inflation to Rise
It's great to be awarded a more impressive title during these interesting economic times. However, as a Career Management Professional specializing at the senior level, I question what this is going to do for the employees career future when the time comes to seek a new opportunity. It could be dangerous!
There are certain responsibilities attached with titles, and if a title above the responsibilities for the position are granted, can that person fulfill those responsibilities or have they been shielded simply because of these intriguing times?
PAY
I have always wondered about this. If the companies concerned would lay aside monies for possible hard times ahead, they might not have to give out better titles, but instead give the money to where it belongs.Titles don;t make money nor prestige.If prestige was so important and also responsible, maybe they would one day become government upper echelon like senators or congressmen. They get automatic payraises and retirement incomes at 100% of their present saley for life.
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