Overqualified? Yes, but Happy to Have a Job
nytimes.com
nytimes.com
I am curious about how many of these people were "overemployed" during boom times?
I know this recession has made many competent people loose their job and become willing to accept less, but bubbles and boom times often see companies try to grow fast and become willing to accept less qualified people to fill some positions too...
“Obviously that stems from maybe some embarrassment at the level that I’m at,” he said. “I do want people to know that, to some extent, this isn’t who I am.”
It helps somewhat that most of his former business school classmates are hardly becoming masters of the universe.
“It’s not like anyone else is tearing it up,” he said.
While he is happy for now, Mr. Carroll worries about what will happen once he has finished the more interesting work of overhauling the department. He wonders how long simply having a job will be enough.
This does not sound like a person that is happy. This sounds like a person who feels embarassed, forced into a position he feels above, and typically jealous comparing himself to his friends' success. It's kind of pathetic seeing someone trying to fake taking the high road ending up with remarks like this.
The article provides examples of how growing businesses (e.g., start-ups founded by the hackers who post here) can get highly skilled employees at bargain salaries as they scale up, making their companies grow well and making the newly hired job-seekers happy.
If you give less, you will get less.
But remember in a small and growing business you can look at stock options as part of the compensation. If the newly hired person really believes the company has a chance, that could make them very happy even with bargain salaries.
Also, remember that set up often is harder than maintenance, so even if you expect the bargain talent to leave when the economy picks up later, you can often gain a lot from having them for a while and then replace them by someone less experienced at that point.
If you only have a dozen employees and you lose a couple or a few key employees that can horribly impact your future. It's risky and hopefully there's a plan set up to mitigate that risk.
Of course, it's also excellent advice when you are paying market rate or above market prices for labor, people still leave, if not quite as quickly.
I find that technical people especially seem to be not particularly motivated to maximize their income. Treat your underpaid people well, and you can often keep them around for a few years.