Ask YC: How bad is the economy? • Hacker News Board

Re: Ask YC: How bad is the economy?

#71

Post by byrneseyeview » Tue, Sep 30, 2008, 2:20 AM UTC

menloparkbum wrote: post #67

nostrademons wrote: post #63

Earlier quoted context omitted.

Do folks 3 years out of college count as "old" or "recent grads"?

It depends on what you're doing. Raw details: I've been at it for 10 years, half in california, half in boston. Just interviewed at a bunch of startups and one big firm. Offers were all around $95K + post series A equity. I made the same salary 18 months out of college. College senior interns at the last "real job" I had got hired away for $86K starting at Amazon, and I didn't think they were necessarily the cream of…

In my experience engineering salaries plateau around $100K.

Investment banks and hedge funds offer more than this (some of them are doing quite well, and still hiring).

Re: Ask YC: How bad is the economy?

#72

Post by DabAsteroid » Sun, Oct 12, 2008, 9:26 PM UTC

nostrademons wrote: post #38

kingkongrevenge wrote: post #29

Earlier quoted context omitted.

I haven't done this, but I actually think it's a good idea to have $1K in fives hidden somewhere. If the power goes out for a week in a region that would be a great thing to have.

Yeah, my sister stocked up on $20s before Hurricane Ike, and it saved her butt. Houston is only now getting power back, so everything was cash-only for a week or so. Also - pasta salad is apparently a lifesaver. It serves like 10, can be eaten cold, and doesn't go bad all that easily.

It is even better to stock up on $1s.

Re: Ask YC: How bad is the economy?

#73

Post by bayareaguy » Sun, Oct 12, 2008, 9:53 PM UTC

thwarted wrote: post #69

steveplace wrote: post #4

Protect yourself from what, exactly? Your savings is protected by the FDIC up to 100k per acct. I honestly don't believe that the tech/info sector is going to lose that many jobs. If Cisco does consolidate, it (hopefully) will be non-core resources, such as HR, and internal operations. If you have a 401k, you're screwed either way since you have very few options on where to invest. If you have an IRA, you can hedge r…

"Your savings is protected by the FDIC up to 100k per acct." http://www.fdic.gov/deposit/deposits/insuringdeposits/ "The basic insurance amount is $100,000 per depositor per insured bank." Unless your accounts fall into multiple categories, you'd need to spread your 100k+ over a number of banks in order to be protected in it all. Although, this makes me wonder what happens if you have accounts at bank A and bank B, a…

Indeed, as this lady discovered:

Quittel had both a business checking and business savings accounts at the bank, but because each held less than the $100,000 limit guaranteed by the Federal Deposit Insurance Corp., she figured she would be OK. But because the two accounts together totaled more than $100,000 and shared a single taxpayer ID [...] she lost half of everything she had over the $100,000 limit.

http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2008/10/12/...