Over the last year, we’ve all spent a lot of time wrapping our heads around the transition to remote work and the potential benefits to employees.
However, many professionals have forgotten to take into account that remote work could have a significant impact on their earning potential if they plan on relocating.
Some companies, particularly large companies based in cities with high costs of living, are starting to reassess their pay scales and how much money can be saved by lowering salaries of those that opt to work from home and live in places with a lower cost of living. Plenty of companies have already made adjustments.
This could lead to a significant income disruption for remote workers.
In addition, remote work opens up the opportunity for companies to bring in more global talent for less than it would cost to pay American workers.