Slashdot Mirror
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.
People have realized that if they go and earn big bucks for a few years and then bail to somewhere cheaper, that mega salary will help them get above the going rate anywhere. Recruiters don't look at a $200k salary and think "oh but that was Silicon Valley, this person will take $50k out here and maintain the same lifestyle", they think "well I had better offer at least 100k to get someone like that!"
const int one = 65536; (Silvermoon, Texture.cs)
SJW, n: "Someone I don't like, and by the way I'm a fuckwit" - AC
This same bit of basic mathematics will also skew the CEO / median worker pay ratio that the flawed Dodd-Frank Act has mandated companies start reporting. These people hate capitalism and market-based rugged individualism that has made the USA the most successful company in the history of the planet.
San Francisco is basically one big-ass-giant "college campus" for the young to start their careers. It's not a place to raise a family in your 40s. That city entire MO is to constantly churn the young along. You go in, get experience, and then GTFO! It's pure insanity to think SF is to be a city for life living experience; you'll end up in the poorhouse after being kicked to the curb for your old age.
Life is not for the lazy.
And that's the flip side of it: The so-called "Golden Handcuffs". We have it, to a lesser extent, in Metro DC as well. The pay is significantly higher, and you adjust your lifestyle to it. And then. . . .companies outside "the bubble" cannot offer that level, even if the cost of living is low enough that it's a defacto lifestyle IMPROVEMENT. . .
That is a rather ignorant way of looking at things. Inflation is caused by printing too much money. The federal reserve is largely in control of inflation, and can usually get as much or as little as they want. Inflation is not controlled by either the maximum or minimum wage. For more information on this topic, look up the monetary equation mv=pq. Raising the minimum wage doesn't affect inflation, but it increases unemployment as some businesses won't be able to afford the new higher wages, and will hire fewer people. The labor pool has its own supply demand curve. Again, if you don't understand why it is called a curve, please don't waste your time arguing. To really understand this topic well it would be helpful to get a good economics book.
"First they came for the slanderers and i said nothing."