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Talent War in Silicon Valley Demands High Salary (axios.com)
An anonymous reader writes: Employees at Google's parent company Alphabet earned "a median pay package of more than $197,000" in 2017, around 18% lower than Facebook's median salary of $240,000, the Wall Street Journal reports. Per the Journal, this illustrates the competitive "talent war in Silicon Valley, where talented engineers are in limited supply." These two salaries were more than $100,000 above Amazon's median pay, which sat at $28,446. The median price for a home in Silicon Valley is upwards of $1 million, in Seattle the median home price is just under $800,000.
Depends on your definition of "IT". For a lot of companies, if your customer is internal you are IT whether you are changing printer toner or writing applications or keeping servers up.
In my experience, companies that have other product engineering are the only ones who limit the definition of IT to admins and helpdesk people.
Indeed, I am both IT and programmer. I'm an experienced programmer, but because I work internally facing, and we are support to the main operations of the company (not the product itself)- I am considered IT to the rest of the staff.
No, I don't monitor network traffic, or remove people's malware, or tell them not to pour coffee on their keyboards when their keyboards stop working. I write software- but I'm still considered IT here.
Having a large number of lower range salaries will lower the _average_. It need not have any effect whatsoever on the median salary, which is the salary where half of the personnel make more, and half make less income. If there are "classes" among the employees, the clusters of income for those classes can profoundly distort an analysis of the wages.
You are oversimplifying a bit:
I didn't, I gave the full equation, mv=pq. If you don't understand it, you should go look it up right now.
His point is that mv=pq is a very simplified equation which makes numerous false assumptions. It is good for a ECON 101 class to explain the basics, but it doesn't cover the entirety of what affects the CPI. Some basic problems with the equation include:
M = Money Supply -> This is a very complex topic as there are many forms of money supply with very different characteristics, such as liquidity. This is one way wages enter into inflation figures, because more liquid forms of money supply in the hands of people who spend most of their money on goods and services (such as minimum wage workers) have a higher effect on inflation.
V = Velocity -> In this equation V is not well defined. I'm not going to write a paper about it on Slashdot, but you can read this for a little more info.
P = Price of Goods and Services -> This equation also doesn't take into account how inflation can hit different types of goods and services very differently. The type of Money Supply has a strong effect on this.
I was going to type more but have a meeting to get to. I'm not saying that MV=PQ is a meaningless equation, it just doesn't encompass all economic theory on inflationary pressures. Think of it as F=MA before Einstein and quantum mechanics.
-- All that is necessary for the triumph of evil is that good men do nothing. -- Edmund Burke