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I make a decent salary as a programmer (150k) but my house only cost 250k and my mortgage is about 1400. How I see it, if I have to flip burgers to keep my house, I can pull it off. I can't imagine have a mortgage that's 10gs a month.
For a lot of people this isn't possible. You won't find a liveable home in my country for under 600k.
How are housing prices in the neighbouring countries?
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> high tech salaries Are they really high? They are not that different from UPS driver salaries. Just the other day I clicked on the website of some random law firm's career page. I wasn't happy with what I saw (in the context of my own career). Some researchers with 1 year of experience with starting salary of 450k+... tech salaries look high as long as you don't check other professions.
This doesn't really make sense. What is a "researcher" at a law firm? Lawyers at top firms are on fixed pay schedules, starting at 180k as a 1st year going up to something like 450k after 8yrs (?). Tech is high earning. It gets beat out by high finance and partner-level roles in e.g. law though. If someone is earning 450k in their first year it's probably similar to a quant finance role.
This is just one random firm that I picked from google: [0] - $235k - $365 - with 1 full year of experience, lol [1] - $310k - $390 - real estate contracts [2] - $260k - $390 - real estate contracts, with 2 years of experience
Can you get $350k+ in tech? Well, yes, but with including a lot of luck and ifs. Can you get $350k+ in tech with 1 year of experience? Realistically, only if your dad is called Nadella or Musk.
There are definitely jobs that pay much worse than tech, no question about it. And if you are happy with your salary, than good for you. But nowadays people are mostly made to believe that tech salaries are still extraordinary.
Looking at the best paying professions[3], tech makes only the very end of the list (and only manager level, not code-droid level).
[0]: https://jobs.phextranet.com/PH-Attorney/viRecruitSelfApply/R... [1]: https://jobs.phextranet.com/PH-Attorney/viRecruitSelfApply/R... [2]: https://jobs.phextranet.com/PH-Attorney/viRecruitSelfApply/R... [3]: https://www.investopedia.com/personal-finance/top-highest-pa...
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They were high in 2013.
Revisited this, and while it was tongue-in-cheek, it feels a bit ungrateful. A lot of tech roles are intellectually stimulating and have a wage in the upper distribution of salaries. I think we have a very nice situation going for us.
The same forces that enable high tech salaries, also make layoffs more likely. - The market for talent is competitive. So companies bid up to the absolute max they can - The market for managers is also competitive. Creating dynamics that lead to larger teams and raises for team members - Companies allow things like remote work, which is a perk, but also has a lot of abuse in terms of how much work gets done The end r…
No the issue is that I get fired after the prior townhall saying "we are not doing layoffs". Companies will outright lie to get little ounces of productivity and treat you like a criminal the moment they break the news, as if we're all school shooters waiting to happen in anger and rage over betrayal.
The circus of the 2023/2024 job market doesn't help either. Even pre-pandemic the process was padded, but now I'm not even convinced 80% of companies have a human reading my resume.
>There should also be some reasonable government provided safety net so people can reskill/learn and move to other fields.
I'd rather not "hit hard times" while shareholders are making a killing and make a conclustion that my entire career needs to shuffle so they can save pennies.
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There are also different types of creep, some that you can easily stop, and others that are more difficult. Specifically, everything that involves a medium to long-term obligation (such as a mortgage or vehicle loan) can cause problems if you cannot sustain it through cashflow interruptions or significant declines. Going out to expensive restaurants and Broadway shows definitely costs a lot of money, but you can imme…
You can still sell your house or car. The first potentially for more money. The restaurants and broadway shows are gone. I’m all for spending on experiences btw. But you have it backwards financially.
And selling your house is a last resort. rent is still more than mortgageso you're losing both asset and liquid wealth with that move just to buy some time. You're better off taking out a second mortgage if needed than selling off entirely.
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Avoid lifestyle creep! I have to say I'm bad at this myself: somehow it all adds up, while each individual expense doesn't look so bad.
Exactly, I feel a lot of my coworkers fell under this trap: if you need cashflow for mortgage on your 4m mansion in (affluent neighborhood), you can't really afford it.
But most of history relied on a labor market focusing on retention and training. We're far past that. We're a gig econnomy in all but name with these kinds of evonomic swings.
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Exactly, I feel a lot of my coworkers fell under this trap: if you need cashflow for mortgage on your 4m mansion in (affluent neighborhood), you can't really afford it.
I make a decent salary as a programmer (150k) but my house only cost 250k and my mortgage is about 1400. How I see it, if I have to flip burgers to keep my house, I can pull it off. I can't imagine have a mortgage that's 10gs a month.
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>if I have to flip burgers to keep my house Sadly it seems it's unlikely they'll hire you even though they might need the help that bad because they're afraid of paying to train you and then you leaving once something better, and in your line of work, comes along.
I mean I just meant a low paying job. During COVID which even have more oversupply, I was bored and I was drive around doing doordash and other delivery services even though I had my tech job. There is always a surefire way of making one or two thousand a month here in the states if you're properly motivated.
And no, 1k a month is under minimum wage in my state. It's not even covering my mortgage, which is much cheaper than rent.
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> my house only cost 250k I find it hard to believe you can flip enough burgers to pay that mortgage and still survive. Not many fast food places will pay over 30 hours a week to burger flippers. Managers yes. You would barely survive.
> find it hard to believe you can flip enough burgers to pay that mortgage To keep a $1,400 within the 28/36 rule [1] you need to make $60,000 a year. That's around the median wage for a fast-food manager [2]. [1] https://www.investopedia.com/terms/t/twenty-eight-thirty-six... [2] https://www.glassdoor.com/Salaries/fast-food-manager-salary-...