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I switched jobs in November for a ginormous pay raise. I think this is the case for a lot of these people.

Millions of Americans did not get a ginormous pay raise in November. Your perspective is skewed by the tech industry bubble.

A lot of people went from $10 to $12 or $22 to $26.

Yeah - the sign at my local McDonald's is offering jobs at $16/hr - 2 years ago it was ~$10.

Where is this happening? Even fast food places in my area are starting at $15 an hour, and paying people to show up to interviews.

I tripled my salary with one job change (but I've been underpaid, so probably doesn't count that much)

Did you have to move to a higher cost of living area though?

No, I told them that I cannot relocate because I have to complete master's,

but I'm interested in doing it after that (+- 1.5yr), but time's gonna show

In Europe we still have the same micro-salaries as before pandemic. Nothing changed.

Well, I'm from EU :P