What do you do for a living? Most companies that adjust salaries based on market rates have given two raises of at least 4% this year alone, I’ve received a 7%, 9%, and another due in Jan.

I do data analytics and software engineering, consulting and day job. In SE I hear anecdotal evidence that it’s hard to keep people because there is enough companies still willing to offer people 20% on their previous salary, and a recent analysis I did for a real estate firm on Calgary shows that to compensate for that a lot of companies in the area are doing multiple raises per year in the last two years just to retain employees, which also fits with what my company has been doing.

I’ve said this in a previous post before, from the data I see. What a lot of people think of as skilled work (I.e. generic office work which is a lot more people than most think) wages have really stagnated. But for more specialized professions salaries are outpacing inflation by a good margin. Hence why I don’t foresee a collapse in housing any time soon, even if we are seeing a necessary price correction due to interest rate hikes. Affordability is actually worse now than before the rate hikes started.