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9600 per month for an internship? Is that pure cash? Jesus Christ no wonder new companies are basing their development somewhere else.
After taxes, rent, bills and food that's 3000. And 4800 turns into 500. That's like a coffee budget.
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some places give additional housing stipend or corporate housing. And a lot of these companies have free food. let's not pretend it is merely a coffee budget. many people survive in Bay Area on less. Also, internship is probably gonna be remote.
Companies that cut half of the pay are unlikely to offer corporate housing or free food. Even remote interns need to live somewhere and rent isn't cheap. On the other hand, interns might be ok with sharing a 2bd apt with 3 roommates and paying only 600 for rent and bills. That would leave them almost 2000 a month. Not bad for a 20 yo seeking independence, but humiliating for a 25 yo and a complete failure for a 30 yo…
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Oh that's even more painful. Damn, that's unfortunate for the kids going in now.
This seems more like Lyft trying to actually do the right thing. Training junior engineers remotely is incredibly difficult not to mention interns. From a purely business point of view, the economical thing would have been to just cancel the internships. These interns will probably learn very little and they will be a burden to people who have to manage them since the employees workload will increase with the layoffs…
And both my internships paid below yours (after paycut). The important piece of the internship is the experience, not the money.
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After taxes, rent, bills and food that's 3000. And 4800 turns into 500. That's like a coffee budget.
US salaries are really high. For context, in Southern Europe, most developers don't even earn $3000/month BEFORE taxes and expenses.
For the sake of comparison, $4,800/month (mentioned by another commenter) is $57,600 extrapolated to a full year, or 1.7x the median US salary. That's the median for all US workers, so it includes mid-career professionals, not just college students. There are people as smart and capable as you making less than $15/hour all across the country - and, for that matter, people who got laid off from those $15/hour jobs and…
Earlier quoted context omitted.
9600 per month for an internship? Is that pure cash? Jesus Christ no wonder new companies are basing their development somewhere else.
After taxes, rent, bills and food that's 3000. And 4800 turns into 500. That's like a coffee budget.
For the sake of comparison, $4,800/month (mentioned by another commenter) is $57,600 extrapolated to a full year, or 1.7x the median US salary. That's the median for all US workers, so it includes mid-career professionals, not just college students. There are people as smart and capable as you making less than $15/hour all across the country - and, for that matter, people who got laid off from those $15/hour jobs and…
What's the median for lawyers, medical professionals, architects, civil engineers or logisticians?
Earlier quoted context omitted.
some places give additional housing stipend or corporate housing. And a lot of these companies have free food. let's not pretend it is merely a coffee budget. many people survive in Bay Area on less. Also, internship is probably gonna be remote.
Companies that cut half of the pay are unlikely to offer corporate housing or free food. Even remote interns need to live somewhere and rent isn't cheap. On the other hand, interns might be ok with sharing a 2bd apt with 3 roommates and paying only 600 for rent and bills. That would leave them almost 2000 a month. Not bad for a 20 yo seeking independence, but humiliating for a 25 yo and a complete failure for a 30 yo…
I was truly taken aback by how out of touch this comment is. A 50% cut to a $9600 monthly salary is $4800, or $57,600 annually. This is above median US household income, and close to double median personal income. It's not "humiliating" or "a complete failure" by any stretch of the imagination.
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as a graduate, you'd be extremely lucky to have any job at all, let alone a job at a tech company, let alone one as well known as Lyft. Let's face it, with the current vast oversupply of labor, employers have a lot more bargaining power. Back in my day, after the Tech bubble burst, I was a coder with little experience, and I worked for any start up that would let me, just so i could get more experience. One place, I…
Most software companies aren't hurting - especially those still in the startup phase that may have 0 revenue today but also had 0 revenue before the pandemic. Additionally, the job market is already insanely skewed toward employers with extremely weak unionizing laws throughout most of the US - while the software market is more balanced than most other markets the value extracted form employees still far outweighs th…
i think a lot of young people haven't ever experienced that, and assume that the "more balanced than most other markets" conditions will continue in the tech industry forever. But, there's nothing that says it needs to continue. There's no regulations in place that prevent more and more workers from entering the software industry (unlike say doctors who have regulations in place to prevent more medical students than a certain number each year). So, in SE, over the next decade, the supply of workers can continue to increase more and more