Live data from Hacker News

Tech Salaries in 2022: Why the Six Figure Pay Makes Techies Feel Underpaid

toolbox.com

51–60 of 609 posts

Re: Tech Salaries in 2022: Why the Six Figure Pay Makes Techies Feel Underpaid

#51
post #33

Earlier quoted context omitted.

I don't feel underpaid, but I definitely feel like I've lost tons of ground in the last 2 years. The floor has risen big time. Entry level jobs are paying up to 60k these days, whereas they were closer to 30k a few years back. Good for them, seriously. But watching the floor rise closer to you is never a great feeling.

That's a strange concern you seem to have... why does it bother you that fellow programmers are getting salaries close to yours? Do you think it would feel better if your salary could be 5x higher than theirs? Why? That will not actually affect you negatively in any way! Unless you're being actually underpaid compared to your peers with the same experience and skills, there's only good things about people with lower…

What a condescending tone. I guess you're an objective meritocracy absolutist or something. To me, it seems like anything but shifting the whole ladder would discount every year you spent at the company and your experience level up to whatever value your role creates. It means there's 30k more available per person, but maybe not for people already there, and that's a lower ceiling. Good time to consider trying to switch.

Re: Tech Salaries in 2022: Why the Six Figure Pay Makes Techies Feel Underpaid

#52

Earlier quoted context omitted.

in the UK at the moment you can get morgages for 5.25x salary, especially if you have a high income. I assume the US has roughly the same now. The old mortgage multiplers have gone for now.

5.25 joint salary, though, so that could be as high as 11.5 times one person's salary for one house if you're buying together (they may have a slightly different calculation when combining salary). And indeed my house, but not the mortgage, was well over 10 times my salary when I bought it. The mortgage was around 8 times my (entry level UK) salary, but about half that if you counted both of us. Which is one route to…

What percent of people have fixed vs variable rate mortgages?

Re: Tech Salaries in 2022: Why the Six Figure Pay Makes Techies Feel Underpaid

#53
post #32

A solid article, but it should have commented on single family home prices. If you use the 3x salary rule, a $120k a year techie couldn't afford the median home price in America ($374k). A software engineer in San Francisco would have to make $526k a year in cold hard cash to reasonably afford the median single family home ($1.58 million). Talking about six figure salaries as if they are unquestionably upper-middle c…

3x? That's crazy. I bought a $375k house on an $85k tech salary 20 years ago.

Funny enough my first and only house was actually very close to 3x income at the time I bought it 10ish years ago and everything real estate seems crazy to me now...

Re: Tech Salaries in 2022: Why the Six Figure Pay Makes Techies Feel Underpaid

#54
post #10

It also makes us Europeans feel underpaid :) I have 20 years of experience and don't even make six figures. $350000 base pay sounds like a different world.

Be aware that if you include the taxes and mandatory insurances you have to pay (and your employer has to pay), you'd usually pass the six figures easily. It's easy to be a millionaire if the state takes fuck all from the paycheck.

We pay taxes in the EU as well. Often the rate is much higher than the US but it depends on the country.

Re: Tech Salaries in 2022: Why the Six Figure Pay Makes Techies Feel Underpaid

#55

>the average tech worker’s salary [will] reach $104,566 in the U.S. — a 6.9% increase since 2020, the report found. But inflation is over 11% since 2020. This isn't an increase. The average tech worker is making less than they were 2 years ago according to the Dice salary report. Why do tech workers feel underpaid? Many companies posted record growth and profits over the pandemic, but still give out paltry 3-5% raise…

> ...a 6.9% increase since 2020, the report found. But inflation is over 11% since 2020. This isn't an increase. The I have heard this point made a couple of times recently. Is there any reason why these two values should be the same? It is a point of concern for those on very low incomes who spent all their income and are not able to save anythiny, but if you are on a six figure income and only a portion of that inc…

The employer is the one taking that extra value, so why wouldn’t the “you already have enough money” argument cut both ways? I also assume management is wealthier than the previous year.

Re: Tech Salaries in 2022: Why the Six Figure Pay Makes Techies Feel Underpaid

#56

>the average tech worker’s salary [will] reach $104,566 in the U.S. — a 6.9% increase since 2020, the report found. But inflation is over 11% since 2020. This isn't an increase. The average tech worker is making less than they were 2 years ago according to the Dice salary report. Why do tech workers feel underpaid? Many companies posted record growth and profits over the pandemic, but still give out paltry 3-5% raise…

Annual raises doesn't have anything to do with being over or underpaid, strictly speaking. To clearly illustrate my point here, if fortune 500 CEO pay is up less than 11% on avg since 2020, I don't think that's an argument they're underpaid.

> if fortune 500 CEO pay is up less than 11% on avg since 2020

Yeah well, in reality it's up considerably more. They didn't get to be the 0.1% by accepting sub-inflation pay raises for the last 100+ years. Here is what their actual raises were:

19% in 2021, 16% in 2020, ~14% in 2019 & 2018. Sources below.

Meanwhile that's what average hourly wages increased by:

4.7% in 2021, 1.8% in 2020

https://fortune.com/2022/04/01/ceo-pay-rose-record-19-percen...

https://fortune.com/2021/05/28/ceo-pay-increase-2020-pay-gap...

If you want to make your argument, show a profession which has ACTUALLY been getting sub-inflation raises for a decade or more, but you still consider to be overpaid. It's no coincidence that such combination doesn't exist.

Re: Tech Salaries in 2022: Why the Six Figure Pay Makes Techies Feel Underpaid

#58
post #27
post #10

It also makes us Europeans feel underpaid :) I have 20 years of experience and don't even make six figures. $350000 base pay sounds like a different world.

Get a remote job where they pay California rates no matter your location [1] [2] [3]. It's the new way for companies to stand out and attract global top talent. [1] https://handbook.sourcegraph.com/benefits-pay-perks/pay-expe... [2] https://techcrunch.com/2022/04/28/airbnb-commits-to-fully-re... [3] Filter by "Location independent pay" https://himalayas.app/companies

You don’t even need California rates of pay. Lots of remote jobs even if they don’t have parity pay more than local jobs.

Re: Tech Salaries in 2022: Why the Six Figure Pay Makes Techies Feel Underpaid

#59
post #27
post #10

It also makes us Europeans feel underpaid :) I have 20 years of experience and don't even make six figures. $350000 base pay sounds like a different world.

Get a remote job where they pay California rates no matter your location [1] [2] [3]. It's the new way for companies to stand out and attract global top talent. [1] https://handbook.sourcegraph.com/benefits-pay-perks/pay-expe... [2] https://techcrunch.com/2022/04/28/airbnb-commits-to-fully-re... [3] Filter by "Location independent pay" https://himalayas.app/companies

Regarding link to AirBnb[2]. Their job-listing is still country dependent.

Re: Tech Salaries in 2022: Why the Six Figure Pay Makes Techies Feel Underpaid

#60
post #10

It also makes us Europeans feel underpaid :) I have 20 years of experience and don't even make six figures. $350000 base pay sounds like a different world.

Agreed. If you can land a job at a FAANG (not desirable for me), things are different though, even in Europe.

Nah, I worked at Amazon in Europe - earned about $75k for a position that pays $160k in the US.

We europoors are cheap labour for US corporations.

Post reply on HN