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This assumes that labour is perfectly re-locatable and everyone has perfect pricing information. Google literally does offer $1 million salaries for the right

This assumes that labour is perfectly re-locatable and everyone has perfect pricing information. Google literally does offer $1 million salaries for the right positions, the problem is that most of the people who could make that work have already been recruited. Which is why they pay interns six figures to show up for what amounts to a long job interview, to make sure they get all the new talent the moment it's minted. If you make it more difficult to recruit people from untapped populations abroad, they won't pay lower tier people more, they'll open offices aboard to capture their acceptable talent. So yes, there is a shortage of talent that meets the bar. While everyone trained as a book keeper can almost certainly fill any book keeper role, not everyone trained as an engineer can actually fill any role. Not just because some people are shitty engineers, it's because engineering involves spending long periods of time learning domain knowledge that isn't transferrable, even setting aside the fact there are literally thousands of types of engineer.

scott00 10y ago
What positions at Google pay $1M/year? FWIW, my rant was not intended as a rant against immigrants, just a rant against people that spin their personal or corporate financial interests as a national crisis.
- bobdole1234 10y ago
  There's a surprisingly large cross section of people paid extremely well in Google. The company is heavily automated and very profitable, which means they can attribute those profits to the humans largely responsible for them with accuracy that isn't often seen outside finance. The bonus structure is extremely kind to the highly productive.
  - scott00 10y ago
    I'd really like to hear some specifics on this. What kind of job descriptions do they have? Roughly how many are there? Are they executives, managers, or individual contributors? Does this only happen in bonus form for extraordinary performance, or can new hires start with the expectation of comp at this level? I regularly hear stories about non-executives getting 7 figure paydays in trading and investment banking. I hear stories about non-executive tech people getting 7 figure pay days due to startup liquidity events. This is the first I've ever heard of something like this at an established tech company.

scott00 10y ago

What positions at Google pay $1M/year? FWIW, my rant was not intended as a rant against immigrants, just a rant against people that spin their personal or corporate financial interests as a national crisis.

bobdole1234 10y ago
There's a surprisingly large cross section of people paid extremely well in Google. The company is heavily automated and very profitable, which means they can attribute those profits to the humans largely responsible for them with accuracy that isn't often seen outside finance. The bonus structure is extremely kind to the highly productive.
- scott00 10y ago
  I'd really like to hear some specifics on this. What kind of job descriptions do they have? Roughly how many are there? Are they executives, managers, or individual contributors? Does this only happen in bonus form for extraordinary performance, or can new hires start with the expectation of comp at this level? I regularly hear stories about non-executives getting 7 figure paydays in trading and investment banking. I hear stories about non-executive tech people getting 7 figure pay days due to startup liquidity events. This is the first I've ever heard of something like this at an established tech company.