In the past year, we've seen an increasing number of debates regarding fair wages and what is an appropriate rate of pay for today's age, with more and more people becoming comfortable discussing their salaries, a once rather taboo subject.
This has become a global issue as more countries are found to have questionable business practices regarding salaries, like one man in Japan who revealed that he's only given a $4 raise per year.
At 50 years old, he has never traveled, and rarely partakes in any recreational activities due this extremely tight budget. He makes a meager $34,000, all of which goes to support his family.
"I can't save, I have nothing at all put by for my old age. I'll just have to keep on working," he said to Yahoo Finance.
In 2020, the country's average salary was $38,515, which has barely increased since the '90s.
Masamitsu had actually changed careers later in his life, a very uncommon move for most Japanese workers, which is why he was grateful for the pay he was getting. "Given my age, the base pay actually wasn't too bad, there were other places that were lower."
The company informed him when he was hired that he'd only receive a $4 raise every year. After 10 years of working at the company, he'd be eligible for a yearly raise of $42.
"It's kind of unfortunate it doesn't rise more, even though I'm working hard," he said.
He's been encouraging companies to raise their pay at spring wage negotiations, a conference of sorts where company management teams meet with key unions to discuss the year's wages and set guidelines. Masamitsu has little faith these talks will fix anything, though.
"This kind of thing doesn't really reach people in places like me," he said. "Officials say a lot of things that don't really work out."
"After I retire from this company, I'll do anything I can get. Maybe work as a security guard."
After all, he'll continue to have a wife and child to support. His wife works part-time to help bring in supplementary income, but even that isn't enough to fulfill all their familial goals. "I'd have liked to have had another child, but the one has taken everything we have."
To avoid spending what little income he gets, Masamitsu finds free ways to engage in his hobbies, like free yoga classes available on YouTube.
h/t: Yahoo Finance
