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IMO Switching from fully in person work to fully work from home is worth a hell of a lot more than 2%, probably in the range of 20-50% for the people who get to make the complete switch.
I'm not sure you can measure the benefits of WFH in that way. I do not think anyone would be willing to take a 50% pay cut, but I would attribute that reluctance to a mix of psychological factors (for a lot of people a voluntary pay cut would be unacceptable damage to ego) and inflexible budgeting, plus general stickyness and aversion to change.
A lot of people who have benefited from WFH used to be working 8h+ per day plus a 1-2h commute which has turned into 2-3h per day from home (although people are reluctant to admit it). If you have one of those jobs you would need a massive jump in salary to be willing to go back to full time work.
That being said, if you got fired it would be very hard to reacquire a similar job so it might be better to think of those positions as temporary inefficiencies and not a general property of WFH positions.
IMO Switching from fully in person work to fully work from home is worth a hell of a lot more than 2%, probably in the range of 20-50% for the people who get to make the complete switch.
Would many people take a 50% pay cut to work from home? I get how good it is, but that doesn't feel like it would be something many people would do...
I'm not sure you can measure the benefits of WFH in that way. I do not think anyone would be willing to take a 50% pay cut, but I would attribute that reluctance to a mix of psychological factors (for a lot of people a voluntary pay cut would be unacceptable damage to ego) and inflexible budgeting, plus general stickyness and aversion to change.
A lot of people who have benefited from WFH used to be working 8h+ per day plus a 1-2h commute which has turned into 2-3h per day from home (although people are reluctant to admit it). If you have one of those jobs you would need a massive jump in salary to be willing to go back to full time work.
That being said, if you got fired it would be very hard to reacquire a similar job so it might be better to think of those positions as temporary inefficiencies and not a general property of WFH positions.