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What makes you think that employers are not looking to replace everyone right now? It would make sense to me if there are 100x replacement queue, presumably desperate to accept lower pay, right now. All the more reasons to make a move if you can.

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In my experience, if you have a decent tenure in an organisation where institutional knowledge trumps documentation (a dysfunction, but a common one) then you're not likely to be forced out and replaced with someone cheaper. That institutional knowledge has value.

> All the more reasons to make a move if you can.

So that you too can be one of the job seekers "desperate to accept lower pay, right now"?

I have seen that work out for some people, but I think that they intentionally contributed to said distinction to the detriment of everyone else. Best to steer clear.

ok, make your move. Reddit is filled with people that thought this way and have now been unemployed with no job in sight or were forced to take a job at reduced pay.

Like waiting in the stock market, I would make my move when it's an employees market. This way, you actually have some negotiating power.

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