ELI5, what exactly does “competitive wages/pay” mean?
In: Economics
Supposedly, it means the salary is typical for the type of job and location. It means that they pay a similar amount to what other companies pay, for the same work in the same location.
In reality, it often means the salary is quite low. Companies might say the pay is “competitive” when they don’t want you to know how much it is, because you might not bother applying if you knew what they paid. Their plan is that you apply without knowing the pay, and by the time you find out the salary (often only when they actually offer you the job), you’ll just take it even if it’s not a good amount, because you’ve already invested so much time and effort into the interview process.
Popular opinion is that if the pay is good, the company will have no problem telling you what it is, in the job advert.
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