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“Great resignation” wave coming for companies

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Re: “Great resignation” wave coming for companies

#491

Post by Mauricebranagh »

MrsPeaches wrote: post #209
ho_schi wrote: post #79

Earlier quoted context omitted.

Are you sure about middle class O_o Higher-middle and upper class more likely? Kids which need to earn their money usually go straight into apprenticeship or university and earn money promptly.

Might be a difference in terminology tbh. In the UK "upper class" is used almost exclusively for aristocrats. No matter how rich you are, unless there is a viable way for you to hold a title (e.g. Earl), you will not be considered upper class. Middle class is basically anyone who does knowledge work and has aspirations of home ownership. Your description of "Kids which need to earn their money usually go straight int…

And technically upper class is doesn't need to work and can live of investments / property.

Its a bit more complex in the UK ABc1 is middle but their are social distinctions dependant on job not income.

For example A Plumber Miner or train driver might make more than an engineer but would be working class.

Basically what sort of honour would you get for doing charity work is a good marker

Re: “Great resignation” wave coming for companies

#492

Post by momirlan »

rubicon33 wrote: post #481
aurelianito wrote: post #425

Earlier quoted context omitted.

Not the original commenter, but this is the situation in Argentina. I would love to do a remote gig and get 100k a year. I am a programmer with over 20 years of experience and I can program professionally in over 10 different programming languages.

It is worth noting that software salaries are artificially inflated HEAVILY due to a general unwillingness or lack of interest in hiring overseas developers. The second this changes, the bottom drops out of software. I don't know if it will ever happen that big companies begin openly accepting overseas applicants but if/when it does, you can expect that it wont be for 100k. Suddenly when you consider the entire plane…

Employers had 20+ years to switch to overseas workers. The percentage of jobs that went east has stabilized, and it's not going to change dramatically.

Re: “Great resignation” wave coming for companies

#493

Post by rexarex »

ghaff wrote: post #312
tellmelies wrote: post #283

Earlier quoted context omitted.

Don't even bother with the travel insurance, pay for health care out of pocket in another country. Travel insurance is only needed for traveling in America for the reason you stated.

IMO travel insurance sometimes makes sense. Circumstances like high altitude trekking that may require expensive evacuation. Expensive non-refundable trips, especially those that a broken ankle before or during the trip could put a rapid stop to. That said, I've only purchased travel insurance maybe a half-dozen times out of probably hundreds of trips.

You need to make sure it covers that altitude. They top out around a certain altitude in the fine print you usually need to pay a little extra for altitudes like Kilimanjaro. Make sure it has helo evacuation covered for all altitudes.

Re: “Great resignation” wave coming for companies

#494

Post by majormajor »

admissionsguy wrote: post #377
throwaway894345 wrote: post #335

Earlier quoted context omitted.

To be clear, I'm merely saying "the complexities of the American healthcare system might be why Europeans are more inclined to take gap years". That said, I didn't know that European public health insurance was commonly contingent on employment. I would be curious to know more about this.

I am honestly very bitter about Americans glorifying the European system while happily taking home 2/3rds of their 100k+ developer salaries and enjoying much lower prices of everything. With regards to insurance: - in some countries (UK, Sweden) - the insurance is contingent on having a social security number, so the coverage is pretty much universal for residents, but people coming from other EU countries will still…

> I am honestly very bitter about Americans glorifying the European system while happily taking home 2/3rds of their 100k+ developer salaries and enjoying much lower prices of everything.

Why do you believe those salaries are the result of the American healthcare system? Per-capita, Americans pay more than anyone for healthcare, just in a very unbalanced way that dramatically favors those with a job over those without.

Regarding comparing tax rates, those six figure job numbers don't include the substantial amount the employer is paying to the healthcare company.

Bitterness about the salary gap is understandable, but it's misguided to say that the fucked-up parts of the US system are what has produced the high-revenue/high-profit companies that are driving the compensation levels.

Re: “Great resignation” wave coming for companies

#495

Post by vmception »

lordnacho wrote: post #52

I can tell you all the market for devs is white hot at the moment. I mean it was never cold, but right now seems to be insane. If the work-from-home thing has given you thoughts about what you like, now is the time to go. I see very few firms insisting on onsite work though, having interviewed with quite a few over the last few weeks. Even guys that I know would rather have people in the office and would pay them ver…

Levels says E-7’s at Facebook get a nearly $1,000,000 compensation package

A) Is this annual? As in their unvested RSUs are nearly 4x this amount

B) This is not accounting for stock price appreciation?

or do I have it entirely wrong. Two years ago on Blind I could tell people were discussing their compensation packages in wildly differing ways. It was impossible to tell if people were discussing if they signed an offer that computed a particular dollar value that was only relevant a single year and they just liked to brag about it, or if they were discussing their annual tax filings from employment, or even something else. I feel like this discrepancy translates onto Levels as well.

Re: “Great resignation” wave coming for companies

#496

Post by nanidin »

ryandrake wrote: post #403
rchaud wrote: post #363

Earlier quoted context omitted.

> If you're working in tech and you can't bank enough to take 6m-1yr off, you're doing your finances wrong. Why would you assume to know what other people's financial situations are, let alone their wage scale in an industry where not everyone is a US-based SWE?

Not to mention, even if you can save this much, put it in your 401(k), not a vacation savings account. The financial impact of taking a whole year without pay in your 20s probably adds 5 years to your retirement date, due to compounding interest and investment growth. Is it really worth it, just so you can fill your Insta with pictures of you windsurfing in Ibiza?

Why wait until one is old to have fun? Why assume one will even live to enjoy retirement? Can one even pick up windsurfing at a typical retirement age?

I took off 3 years in my 20’s. 34 now, and back on track to retire in my early 40’s. Saving for retirement and enjoying life today are not mutually exclusive.

Re: “Great resignation” wave coming for companies

#497

Post by comeonseriously »

screye wrote: post #263

> Surveys show anywhere from 25% to upwards of 40% of workers are thinking about quitting their jobs. This number is meaningless without previous year trends. In my circles, everyone from 25-35 is simultaneously preparing to FIRE and no-one that's 35+ has actually changed jobs despite being 'financially independent'. Expressing intent to resign, and actually resigning are completely different things. (edit: to clarif…

> Expressing intent to resign, and actually resigning are completely different things.

I bet if HC were not employment centered, this would be much different. In the US, it's a badge of honor to have a "job with benefits". Switching jobs and not having HC benefits that are as good or cost more weighs heavy on the minds of most people.

Re: “Great resignation” wave coming for companies

#498

Post by Mauricebranagh »

pc86 wrote: post #203
throwaway0a5e wrote: post #111

Earlier quoted context omitted.

People tend to flip flop between the classical "wealthy people but not born into centuries old familial wealth on the top end and successful doctors, lawyers and financial professionals on the bottom end" definition and the "blue collar workers plus or minus a little" definition based on whichever is more convenient for the point they are trying to make that minute. Basically the GP is using the former definition and…

Most HN readers would be more than a little flummoxed at what "middle class" actually is in the US. The median household income is somewhere between $50-60k depending on where you look. The median individual income is a solid $15-20k less than that. And yet people will still nearly break their own spine trying to convolute a $200k cash comp tech worker as "middle class" because they happen to pay $4k/mo for a shared…

Its "class" we are talking about here and it does exist in the US compare Bill Gates vs Steve Jobs and Woz.

Re: “Great resignation” wave coming for companies

#499

Post by throwaway894345 »

vidarh wrote: post #441
admissionsguy wrote: post #286

Earlier quoted context omitted.

You are not getting health insurance in most European countries unless you are working or registered as unemployed and remain at disposal of the local job centre. And the whole meme that a 65% tax rate +25% vat on most products on top of it (I am in Sweden) is somehow worth it financially because "fReE HeAlThCaRe" is laughable.

The vast majority in Sweden pays nothing like "65% tax rate + 25% vat", though. To get to that tax rate you need to earn far above average. Someone who is single with no child earning 167% of an average wage pays ~35% income tax and social security contributions [1]. The effective VAT also for most ends up far lower as a proportion of income, as most people don't spend anywhere near their whole income on VAT-rated pr…

> The vast majority in Sweden pays nothing like "65% tax rate + 25% vat", though. To get to that tax rate you need to earn far above average.

First of all, the OP is including the social security tax in the 65% figure. But more importantly, arguing that "the average Swede doesn't pay that much in tax" isn't very consoling for the American who would have to (1) take a salary hit to live in Sweden and (2) have to pay that higher tax rate. Universal healthcare doesn't remotely make up the difference in take-home pay.

As a reference point, taxes, retirement/pension/social-security, and healthcare account for ~30% of my gross salary in the U.S. If I moved to just about any Western European country (not sure about Sweden in particular), my take-home pay would likely fall by 40% (conservatively) while taxes and cost of living would likely rise.

Of course, the tradeoff for the Swedish system is that you have a stronger social safety net, which is certainly worth something. But the issue at hand is the notion that the European systems are better than the American system for professional employees.

Re: “Great resignation” wave coming for companies

#500

Post by anoncake »

ericd wrote: post #404
BurningFrog wrote: post #291

Earlier quoted context omitted.

Yeah, I easily make twice as much as I spend. So I take a year of now and then, if I feel like it.

Do you ever find this makes finding a new job on return difficult?

If you make twice as much as you need without being extremely frugal, you likely have the skills to compensate that.
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