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Mems 20

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Worrying developments in industry workers’ salaries

As an organization that is well acquainted with the state of the industry field and the hundreds of thousands of industrial workers, we at Mems 20 feel obliged to share our enthusiasms as well as our concerns about the “way the wind is blowing.” Today, we want to highlight worrying developments in industry workers’ salaries.

(This article is written by our Norwegian HR manager Thor Soldal, on behalf of industry workers.)

Salary increases are not keeping up with inflation

Based on an extensive survey we have given to industrial workers in selected countries within the US, Europe, and Asia, it appears that year-to-year salary increases are not keeping up with inflation. This is perhaps not noticed so much on a yearly basis, as on a ten-year basis, because sometimes the inflation is low and sometimes high. We haven’t only performed this survey in 2021, but all the way since 2010. Here are some of our findings.

The consequences

When the salary of industrial workers doesn’t increase at the same rate as inflation, a number of consequences appear (as these workers explained themselves in a section of our survey with the question “How would you explain your current financial situation, compared to 10 years ago?”). 

Fewer opportunities at home

When salaries become lower in relation to the market’s increasing costs, industrial workers experience fewer opportunities at home in terms of the ability to take holidays, buy things they want, and spend more time with their families. 

Loan terms are harder to fulfill

Lower relative salaries also lead to worse loan terms. Given that the workers have to spend more of their salary on the increasingly expensive basic needs like food, shelter, and clothing for their families, a smaller portion is left to pay down loans. Financial services companies like Lån For Deg in Norway, HSBC in France, and N26 in Germany have reported that they aren’t able to accept as many loan applications as they were 10 years ago for industrial workers, according to answers they gave us in mails we sent out. We sent out these mails to financial companies in the areas where most industrial workers had answered our surveys, to get a more holistic view of the case. 

Tension at home

Perhaps the most difficult consequence to bear, given the low relative salaries, is increase tension at home. Many of our survey participants wrote that, over the course of a decade, a failure to handle financial problems had led to poor family life and divorces. 

What needs to happen

In order for life to become better for the world’s industrial workers, we must come to a universal awareness of the problems that these hard-working individuals are facing, as a result, salary increases’ inability to keep up with inflation. Once we have made the governing organs in some countries aware of this, progress can be made, as other countries may more easily learn how to emulate the solution to this problem without buckling under the increased costs that will be associated with further salary increases. 

Career in Mechanical Industry

Mechanical Industry

Mechanical industry is an advanced technology branch that combines materials science, engineering and physics principles with mechanical principles to design, test, produce, and maintain mechanical devices. It is among the oldest and broadest of all the industrial sectors.

In recent years, it has become one of the fastest-growing sectors in the world. As a result, many companies are looking for people with mechanical engineering experience to join their ranks. If you are thinking about a career in this field, these tips will be helpful in finding your way into the industry.

Find the Right School for Your Mechanical Engineering Training

Mechanical Industry

You have to consider your schooling first before applying to any industrial jobs. Several schools offer degree programs and certificate programs in mechanical engineering. Before you choose one, you have to make sure that the school is accredited and that the program matches your career goals. Make sure that you also check out the student evaluations for the school to ensure that they are reputable.

CEA (Automotive Electronic Industry Association)

The CEA or Automotive Electronics Industry Association is a trade association of manufacturers, suppliers, distributors, and independent agents. They help disseminate information and advance industry standards. This is actually the body that sets the guidelines for certification in automotive and other industries such as the commercial space.

Mechanical Industry

Work Experience

The most practical way to get your foot in the door in the mechanical industry is by acquiring work experience. Mechanical engineering employers will look at your educational background, certification, and work experience before they make a decision on hiring you.

Most companies recruit mechanically-minded individuals who have been through a rigorous training program. Some of these employers include Ford, General Motors, Toyota, Honda, Mercedes Benz, Nissan, and BMW.

Business Ideas

Mechanical Industry

If you are already employed in the mechanical industry, the next step is to seek business ideas that can aid your advancement within the organization. If you already have a good amount of knowledge within the company, think of what business or profession could benefit from the mechanical industry? There are several business ideas that you could explore. One of these is to be a mechanic technician.

You may also want to consider doing business with mechanics that are in the metal working industry. There are several business ideas that you can try out. For instance, you can be an apprentice for another established metalworker. In this way, you can learn from the best and earn some money at the same time.

Career Options

Mechanical Industry

You can choose to be self-employed or run your own business, or you can get a job as a mechanical engineer in a certain company. As soon as you obtain a degree in mechanical engineering, you can start working as a mechanical engineer in any company.

The possibilities are limitless. You can work for one of the major companies or provide freelance services to earn an income. Regardless of where you end up, the skills and education that you have will benefit you in numerous ways.