Is unofficial retirement in corporate world decreasing year by year?
When I joined corporate world in 2012, there were many 45+ and some 55+ folks among us..... Gradually I have been witnessing slow but steady change in demography.... After 10 years, I am rarely seeing any 55+ folks...and noticeable reduction in 45+ folks. My prediction is AI will make this slow change very steep in next 5 years and we would rarely see any average but highly paid 45+ folks
Sapthinker
Stealth
a year ago
These types of questions induce severe panic attacks within me, when I would be having peak responsibility of taking care of old parents, child higher education and marriage, I would be least likely to survive with job in my hand.
People saying save now and enjoy later, everything is eaten by ridiculous direct and indirect taxes hailed as masterstrokes by gutter politicians and out of control inflation.
UpbeatBelt62
Stealth
a year ago
Dont have children, that is a big problem solved
I'm not sure if work is the only factor when considering retirement age. Like this year in France we saw the government try to increase the retirement age as the government is unable to pay pension/interest/services to the retired folks.
That is not the case for India yet but is largely true for the developed countries out there.
Not to mention due to declining birth rates across the world we will also be forced to work in later years like in the case of Japan. Still this point is also not valid for India...yet as we still have way too many mfers in this country.
Have wondered the same. The ratio for 40+ folks to those under 40 seems to be around 50:1. The senior folks are obviously paid well. But what about those who don't make it to director+, VP ranks? Where do they end up if they are not seen in most large organizations?
Qwerty2398
Stealth
a year ago
I have a theory.. new age start-ups do not prefer old people. They don't hire 40± people unless it is for top roles. So you will find most middle aged people in large y2k companies like infy,TCS etc.
Manufacturing on the other hand has alot of 40± people
Even today every month there is a retirement sendoff happening in Tata motors. The higher agee workers are spread across lines and hirarchy. Even now manufacturing hires mostly replacement. So they do prefer mid aged people than youngsters for white collar jobs.
tech is a different world altogether. New age tech wants youngsters as they can work hard, can be pushed to ridiculous limits. This is not possible with a guy with a decent exp. I believe generally speaking there is a significant qty of people in their late 40+ age group who don't comeback into the workforce. This could be due to not getting a level of thier liking or simply they start a small business and stay contented. I personally know a guy who was fired in the 2008 recession and never went back to work again. Started a poultry business and is making good money since then. Ask any guy having is own bootstrapped business.. am not talking of unicorn level but a business big enough to support a family he would say India is now the land of opportunities.
It's true. Not all can make it to the top, nor can they stay contented in a mid level role. It's go up or go out. Personally, I'm aggressively investing hoping to be Financially independent by 45. I don't want to retire, but want to work a lot less hours. I'll be ok to take pay cuts - but it'll look weird when you have managers and bosses younger than you. This is much more prevalent in the western countries but in India it is awkward. Things will change in a decade, I hope. Not everyone wants to reach the moon, some of us just want to put in an honest day's work and enjoy life the rest of the time.
Damaru
Stealth
a year ago
Ageism will be a big problem for our generation, I see no future career post age 50+ , most of us will need to learn to make our own money by then or we are royally fucked .
President_Trump
Stealth
a year ago
As your username says AGI is coming...
majboormajdoor
Stealth
a year ago
Since 2012, many new companies have come up and are biasing your observation. Also, India is young, you see higher proportion in your firm as well.
New company formation was slow in India before that's why India Inc was dominated by old timers 45+, 55+.
However, being on demographic supply explosion in our generation, your assumption of depressed wages when we turn 45, 55 might be likely probable.
