off topic, but i wonder why that phrase gets used rather than 10x which is much shorter.
- 10x is a meme
- what if it's 12x better
Order of magnitude faces less of that baggage, until it does :)
In common conversation, the multiplier can vary from 2x - 10x. In context of some algorithms, order of magnitudes can be over the delta rather than absolutes. eg: an algorithms sees 1.1x improvement over the previous 10 years. A change that shows a 1.1x improvement by itself, overshadows an an order-of-magnitude more effort.
For salaries, I've used order-of-magnitude to mean 2x. Good way to show a step change in a person's perceived value in the market.