61–70 of 609 posts
I have worked for the past 7 years as IT within the UK education sector and expect my salary to be lower than that of industry but I am not even making half that!
Earlier quoted context omitted.
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.
I don't think that's a good analogy. The value of a CEO should be relatively well known before hiring into a company. CEOs are rare, and at the endgame of their career, so you're already pricing in the present and future value you think they will add to your company. CEOs generally can't job hop every couple years for a large double digit raise. Most good engineers(especially early in their career) will be an order o…
Are you pricing in value, or pricing in a specific amount of dollars? Because if you're actually pricing in value, then even though the value stays constant, the dollar amount of the value goes up with inflation.
I agree with your point that regular employees should be expected to get more raises than CEOs, because regular employees can improve more. This doesn't really relate to inflation though, except to the extent they are both factors that lead to raises.
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.
My experience made getting job offers simple, but no one wanted to pay more. I'd often get lowballs with the offer of kudos for working at that tech firm.
£95k seems to be the upper limit at this point here for FTEs.
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.
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
Earlier quoted context omitted.
There's no way in hell it's close to 8x. Just crunched the numbers, and an 8x mortgage would exceed my monthly take home. I felt pretty uncomfortable at 2.5x. I feel a lot of people are probably extending out to 4 or even 5, but 8 would be irresponsible and I doubt you could even find a lender for that.
Maybe you miscrunched? A 5x mortgage over gross pay should be just over 30% of monthly gross take home. Maybe too much for some, but not absolutely irresponsible - especially if you choose to stay in a stable housing market. 2.5x is completely ridiculous to expect - that’s going to be far below rental payments in most places that anybody would want to live. Its definitely not the norm. It’s obtainable in some areas o…
At today's rates, which I'll enter at 5.2%,
A person making 200k at 8x is buying a house worth 1.6 million dollars.
Assuming a 320k down payment(ha), 20k in taxes, and 5k in insurance, the monthly payment comes out to over 9000 a month. I don't think anyone in CA at 200k is taking home that much monthly, but maybe my math is off.
I think 2.5x is also probably not the norm, but I'm extremely conservative with money and what I went with.
4 or 5 I can believe, but in today's market with today's rates, I can't see how 8x is even possible.
Earlier quoted context omitted.
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…
If you're a senior delivering 10x the value of a grad, does it not feel fair to offer more than 2x the salary? I'm torn tbh - there are various ways that a salary can be set, including the value people are delivering, market forces and in reference to others in the career ladder. There's a balancing act to be had, but I can see where the GP is coming from.
Not arguing one way or another. But an alternate hypothesis would be this skill gap has closed.
Education might be better. Or tooling may have improved such that the tangible benefit of experience has, for most current applications, depreciated. Assuming the reduced innovativeness of the average tech worker today versus ten years ago, the equation balances.
Test might be measuring this skill gap in new industries (e.g. crypto) versus established ones (like adtech).
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.
Earlier quoted context omitted.
I don't think that's a good analogy. The value of a CEO should be relatively well known before hiring into a company. CEOs are rare, and at the endgame of their career, so you're already pricing in the present and future value you think they will add to your company. CEOs generally can't job hop every couple years for a large double digit raise. Most good engineers(especially early in their career) will be an order o…
My point here has nothing to do with CEO pay. Or engineer pay. My point is that dev pay being off a few percent since 2020 because of high inflation does not by itself decide the question of whether they're overpaid or not. Patrick Mahomes doesn't get a pay raise adjustment every year for inflation. That doesn't mean his $500m football contract makes him underpaid. The grandparent comment reads as if devs are underpa…
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.
Exactly my thought when I read the title. I know the cost of living is higher in US but I'm always baffled by how much tech workers make on the other side of the pond. To me it sounds like a dream.