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

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

#81
post #19

Earlier quoted context omitted.

You should look into a remote job with a California tech company where entry level is 120k. [1] [1] Filter by "Location independent pay" https://himalayas.app/companies

To be clear, I do quite a bit better than that... I'm not complaining. But using 120k as an example...a person went from making 4x the typical full time salary to 2x the typical full time salary in a very short period.

> To be clear, I do quite a bit better than that... I'm not complaining. But using 120k as an example...a person went from making 4x the typical full time salary to 2x the typical full time salary in a very short period.

This is what I will never understand about most established tech people, they see all the widespread misery and poverty in SV and they still have the capacity to feel sorry for themselves for not making X times more than 'that other guy.'

It's always about what they don't have rather than see that they live in an insulated bubble existence that they could never really navigate if it weren't for that wealth disparity because they have such a narrow limited set of skills. aWant an experiment turn off the wifi, see how quickly these people lose their minds.

I'm not mad at you for it, for all I know you are self-taught guy that beat out a bunch Stanford grads by grinding since HS and making it on your own, but it's this never-ending need to beat that guy.

Its like that scene in American Psycho with those business cards, where for some odd reason people seem to have a need to over-embellish their existence's value with triviality that re-enforces the 'yeah, but I have more than that guy' narrative which is completely lost on me.

I hate to tell you but you will never have more than a Bezos or a Musk, either. Not to mention the Nation-state level despots of the World who don't have their net-worth listed on the Forbes 500.

Just enjoy what you have, while you have it, because I can assure those very same tech companies are pouring tons of money to render you obsolete as soon as possible.

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

#82
post #19

Earlier quoted context omitted.

You should look into a remote job with a California tech company where entry level is 120k. [1] [1] Filter by "Location independent pay" https://himalayas.app/companies

To be clear, I do quite a bit better than that... I'm not complaining. But using 120k as an example...a person went from making 4x the typical full time salary to 2x the typical full time salary in a very short period.

And that is not just keep up with jones syndrome: getting services done like building work, cleaning, etc. gets more expensive. I am all for equality of that nature if everyone is joining in!

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

#83

What a title. Americans are so, so lucky, and don't even recognise their privilege.

With remote work and easier access to the global talent pool, these salaries are bound to normalize across the board. Enjoy the ride while you can, my friends! :)

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

#84

Earlier quoted context omitted.

To be clear, I do quite a bit better than that... I'm not complaining. But using 120k as an example...a person went from making 4x the typical full time salary to 2x the typical full time salary in a very short period.

> To be clear, I do quite a bit better than that... I'm not complaining. But using 120k as an example...a person went from making 4x the typical full time salary to 2x the typical full time salary in a very short period. This is what I will never understand about most established tech people, they see all the widespread misery and poverty in SV and they still have the capacity to feel sorry for themselves for not mak…

Your argument I visualize as the floor falling from the room, the lowest paid have fallen, tech workers are “safe for now” but they are concerned and are trying to move to safer ground, and Bezos is in a spaceship above it all.

People who think techies are well paid probably haven’t tried raising a family yet.

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

#85
post #12

Earlier quoted context omitted.

It's a rule of thumb that your total debt should not exceed 1/3 of your income. It has no economic foundations whatsoever. Yet, banking institutions use(d?) this rule to reject whatever application they were not comfortable with.

> It's a rule of thumb that your total debt should not exceed 1/3 of your income. Unless tax deductions work very different in the US than they do in Denmark, that is pretty bad advice. Here, sitting on a 60% mortgage loan that is many times higher than your annual income is genuinely a good idea for most people because of tax law. It’s not until you have assets that are worth more than your house that it becomes a g…

I'm pretty sure in the UK and Germany that you can't claim tax relief on mortgage interest of your own home.

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

#86

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.

> 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/2022/04/0…

Might be pilots or lawyers but generally they are not overpaid but just paid decent.

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

#87

Are six figure salaries an american thing? I see people saying "Entry level jobs are paying up to 60k" which is just crazy money! 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!

“Working in IT” is pretty broad, but a senior JS dev in London can reasonably ask for 70-90k these days, sometimes more.

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

#88

Earlier quoted context omitted.

To be clear, I do quite a bit better than that... I'm not complaining. But using 120k as an example...a person went from making 4x the typical full time salary to 2x the typical full time salary in a very short period.

> To be clear, I do quite a bit better than that... I'm not complaining. But using 120k as an example...a person went from making 4x the typical full time salary to 2x the typical full time salary in a very short period. This is what I will never understand about most established tech people, they see all the widespread misery and poverty in SV and they still have the capacity to feel sorry for themselves for not mak…

I get that and appreciate you calling it out, I'm not blind to how whiny it sounds. FWIW, I don't live in SV or make an SV salary.

I've always tried to stay at 2x the prevailing local wage, so that my wife can stay home and take care of the house and kid with no worry. That's really my only motivation. When you're doing more than 2x, you feel ahead of the curve. When 2x comes at you fast, you start to sweat a little.

But it's not lost on me that I'm lucky to be able to have such an existence.

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

#89

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…

Companies would be smart to chuck in 10% bonus after a year, 20 after 2 etc. to 50 after 5 and lock that in at hiring time. Like you say: domain knowledge. You would end up with smaller more productive and happy teams. In addition pay increases to market.

Asking too much? “Waaah! It is really hard to find good developers” is a stuck record on loop since 2016 at least

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

#90
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.

20 years here too, UK, I've finally broken the 6 digit bar but I had to move to contracting. 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.

I've seen some remote architech/tech lead roles offering up to £125k, but this is a very recent development.
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