Question

At the peak of your career, your were earning $120,000 and holding a top level position. However, when the recession hit, your job was eliminated and you were offered a position within the company paying half your salary. Explain how each of these dimensions of stratification would change your status in society?

Answer 1

A recession is destructive; and I my salary was half-cut during the recession. I faced loads of hardships because of a sudden fall in income but still continued with my job. My lifestyle certainly changed with the reduction in income. I need to cut my family expenses on dining, entertainment, and extracurricular activities. The loss of income often damages the inter-family relationships as we must change our plans. With a reduction in salary and home loan debt I decided to cut tuitions for children, and cancel vacations. My father had just had a major heart attack as real estate values fall drastically and he could not bear a huge loss. I also sold my home for the daily routine and hospital expenses. The recession is over and today I am been paid well however don't know if I can ever feel fully secure in the job