Ever heard the saying, "spending dollars to save pennies"? It means you're putting more effort in than you're actually getting out. So if you spend $5 to save .50¢, it's not really a savings, is it? For some reason, this doesn't compute to some companies when it comes to power play. They'd rather seem like the one that holds all the power than give you a raise.
One post on the subreddit r/sysadmin has the comment section of a lifetime. They asked if anybody had quit a tech job where the company seemed to drown without them. It turns out this seams to happen often in this career industry. (This comment that has since been deleted had one guy quit, just to be contracted back for 5x his initial salary!) One redditor posted a very satisfying story of him asking for a raise, since his positions market value had him making over $50k, but they refused. So you know what he did? He left and found a place that paid him more. The company, however, started to flounder and couldn't even hire someone for his position that would last. The finally were able to swallow their pride when their new hire quite after 3 weeks. They were then forced to contract him back for 3x his initial salary. Just goes to show you, don't under-appreciate your tech employees.
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