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This is good info. Bookmarking it in case I ever make those pay grades (unlikely). Also if the current bubble pops during my lifetime, that'll really reduce my ability to save...
Yeah, as a youngling in Europe I feel like I'm about to get the shitty end of the stick by the time I hit my 30s. 600k/year (inflation-adjusted) seems like a pipe dream...
Earlier quoted context omitted.
Yeah, as a youngling in Europe I feel like I'm about to get the shitty end of the stick by the time I hit my 30s. 600k/year (inflation-adjusted) seems like a pipe dream...
It’s a pipe dream. 100k€ a year is exceptional for an engineer in Europe. Outside of finance and some American company, it is an exceptional salary period, very rare for someone under 30. I know senior managers in some consulting company who don’t gain that in my country.
This is good info. Bookmarking it in case I ever make those pay grades (unlikely). Also if the current bubble pops during my lifetime, that'll really reduce my ability to save...
Yeah, as a youngling in Europe I feel like I'm about to get the shitty end of the stick by the time I hit my 30s. 600k/year (inflation-adjusted) seems like a pipe dream...
625k a year? Doing what exactly? Good for you, but I have never seen a spec with even a third of that salary. Or is it that it's only FAANG who's paying that big?
I would love for this to continue forever but can it really? For example the author (and my friends) are in similar situation where their compensation are now in the ~500k range but that number is based on the stock value at the time of offer. It is now essentially double that. So we're in a situation where your everyday senior FAANG engineers are locked in a golden handcuff unless they are offered million dollar packages to jump ship.
We're in weird times.
Not to disrespect the effort that went into this, but let's make this very clear: this type of trajectory is only possible for a very limited few, in a particular moment in history.
Everything seems to indicate that, save for a few samurai, the tech overlords are a powerful force driving inequality today.
And regarding the authors' experience: Yeah, if you happen to be employed in the area that ranks in the top 0.05 % quantile for engineering salaries worldwide you will easily become wealthy, especially if you're lucky enough to be paid in company stock during a stock market bubble.
I think people who are graduating now will have a hard time replicating this. My cohort (now in our early 30s, cs majors from a top school) were incredibly lucky because we were in a permanent bull run so as long as we were invested in almost any tech stock, we did well. Almost all of us hit one million mark before early 2020 and that became 2 million at the end of 2021. I would love for this to continue forever but…
well, we've pretty much got the world chained down it's essentially unlimited money for us forever
if things go downhill we will still be on top anyway so who cares
I think people who are graduating now will have a hard time replicating this. My cohort (now in our early 30s, cs majors from a top school) were incredibly lucky because we were in a permanent bull run so as long as we were invested in almost any tech stock, we did well. Almost all of us hit one million mark before early 2020 and that became 2 million at the end of 2021. I would love for this to continue forever but…
To have 1 MM USD/EUR at the end of your thirties given an average 4 % yearly return on investment, you need to save around 4.000 USD/EUR per month starting at age 25. In Europe, if you earn around 100k EUR per year your free income will be around 5.000-6.000 EUR per month. Saving 4.000 EUR / month is doable with that but you'll have to live very frugally, not traveling much and you better not start a family unless yo…