China's rising tech scene threatens US brain drain as ‘sea turtles’ return home
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Re: China's rising tech scene threatens US brain drain as ‘sea turtles’ return home
#2> “Wang said the salaries of his 40-person team for two years cost $700,000.”
Good luck with that. If you’re averaging $10k per employee per year over the long term, I guarantee anyone with the ability to be a good engineer is still going to come to the US where they can make orders of magnitude more.
Re: China's rising tech scene threatens US brain drain as ‘sea turtles’ return home
#3"Wang Meng Qiu, a startup founder who graduated from Stanford University with a doctorate in computer science, held jobs at Facebook and Twitter in Silicon Valley before he moved to the outskirts of Shanghai to launch his own drone company, Zero Zero Robotics.
Wang said the salaries of his 40-person team for two years cost $700,000."
Generously assuming that the full 40-person team didn't onboard until year 2, that's an annual average salary of only 17,500 USD per person. I know the software development labour is cheaper in China, but quick comparisons indicate that something is off with this figure. Maybe most of the 40-person team are on an assembly line?
Re: China's rising tech scene threatens US brain drain as ‘sea turtles’ return home
#4> “Wang said the salaries of his 40-person team for two years cost $700,000.” Good luck with that. If you’re averaging $10k per employee per year over the long term, I guarantee anyone with the ability to be a good engineer is still going to come to the US where they can make orders of magnitude more.
Maybe in terms of total dollar amount, but what happens when you take into consideration the cost of living in each country (including subsidies, etc)? I don't know the answer...just talking out loud. I have no idea how far $10k will take you in China.
Re: China's rising tech scene threatens US brain drain as ‘sea turtles’ return home
#5"Wang Meng Qiu, a startup founder who graduated from Stanford University with a doctorate in computer science, held jobs at Facebook and Twitter in Silicon Valley before he moved to the outskirts of Shanghai to launch his own drone company, Zero Zero Robotics. Wang said the salaries of his 40-person team for two years cost $700,000." Generously assuming that the full 40-person team didn't onboard until year 2, that's…
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Re: China's rising tech scene threatens US brain drain as ‘sea turtles’ return home
#6> “Wang said the salaries of his 40-person team for two years cost $700,000.” Good luck with that. If you’re averaging $10k per employee per year over the long term, I guarantee anyone with the ability to be a good engineer is still going to come to the US where they can make orders of magnitude more.
Or maybe US engineer is overpriced.
Re: China's rising tech scene threatens US brain drain as ‘sea turtles’ return home
#7> “Wang said the salaries of his 40-person team for two years cost $700,000.” Good luck with that. If you’re averaging $10k per employee per year over the long term, I guarantee anyone with the ability to be a good engineer is still going to come to the US where they can make orders of magnitude more.
Or maybe US engineer is overpriced.
Yeah, but not by that much, not even close.
Re: China's rising tech scene threatens US brain drain as ‘sea turtles’ return home
#8> “Wang said the salaries of his 40-person team for two years cost $700,000.” Good luck with that. If you’re averaging $10k per employee per year over the long term, I guarantee anyone with the ability to be a good engineer is still going to come to the US where they can make orders of magnitude more.
Or maybe US engineer is overpriced.
Yeah and maybe Uncle Chang steals everything. "Maybe"
Re: China's rising tech scene threatens US brain drain as ‘sea turtles’ return home
#9The most concerning quote: "About 80 percent of Chinese students who get degrees abroad now go back — up from about 33 percent in 2007, according to China’s Ministry of Education. Some 15 percent take jobs in China’s booming tech sector."
Attracting top global talent has always been a competitive advance for America, and it's not a good sign for our economy if we can't retain people that we are educating here.
Re: China's rising tech scene threatens US brain drain as ‘sea turtles’ return home
#10> “Wang said the salaries of his 40-person team for two years cost $700,000.” Good luck with that. If you’re averaging $10k per employee per year over the long term, I guarantee anyone with the ability to be a good engineer is still going to come to the US where they can make orders of magnitude more.
Maybe in terms of total dollar amount, but what happens when you take into consideration the cost of living in each country (including subsidies, etc)? I don't know the answer...just talking out loud. I have no idea how far $10k will take you in China.
A lot of people make a tricky mistake when adjusting for COL: investment power. Because people can save up and then move, being able to save 10% of a big salary is worth a lot more than being able to save 10% of a small salary. That's why people in California can still beat tech workers in other places in the long run even though the local COL depresses their standard of living down to almost nothing (next to what their pay could buy them elsewhere).