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You're right and you're wrong. The per capita income in Pakistan is $1,600 a year. You are making 12X the average salary. Your $19,200 salary, when adjusted f
by ryan_j_naughton 10y ago
You're right and you're wrong.
The per capita income in Pakistan is $1,600 a year. You are making 12X the average salary.
Your $19,200 salary, when adjusted for purchasing power (about a 3-4X purchasing power multiplier) and you're effective PPP income is $60-80K.
And honestly that puts you in the exact same category as the rest of us with respect of this article: upper middle class engineers who are generally working to make others rich.
This article mentions the vast majority of 1% individuals are bc of working in finance.
This extends into the tech world where the vast majority of equity goes to investors. Thus, even our efforts are primarily enriching individuals in the finance 1% instead of enabling us to move into the 1% ourselves.
This is not too say we don't move up (Obviously the biggest centralization of wealth has been to individuals who founded tech companies), but engineering incomes in silicon valley are far lower on average than Wall Street incomes.