I like to think of STT Kansas City as, ‘The Farm’. My realization has been that we are equivalent to cheap-labor (ie India) from the perspective of a C-level executive. Strategy: hire a boat load of new grads, pay em next to nothing, see what sticks.
Places like Kansas City are saturated with State-educated business majors; whom are generally well-educated, with a certain cross-section of true talent. Nonetheless, we are readily available at bargain basement discount. I liken it to a ZIRP-directed discount window; and we now have what I would define as the new blue collar. I feel as if we’ve been deceived by our local education systems all along. Big surprise.
Management recently disclosed decreasing the starting salary of new hires and internal promotions. From an already meager base of $32k, this is nothing short of oppressive. 32k is lower than the BLS average earnings for the last 30 years. All hail Boston, you should congratulate yourself and high-five the shareholders. [Note: One of the key points to STT’s new corporate strategy is to 'attract and retain talent'. Right.]
I’ve had to work a part-time job for the last year in order to live comfortably and save a few bucks every month. Consider that I do not drive, walk to work, wear clothes I've had for years, and hardly have a social life due to lack of funds and time. Etc.
Another major problem I’ve personally encountered: the older folks won’t pursue promotions, so the positions a level-2 levels above entry that should be turned-over regularly to upcoming talent, aren’t. The talent gets hired away to someone like Cerner who pays market wage. There could be way more opportunity for promotion.
