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> My understanding is that the average finance professional makes less than or equal to tech, but the top 1 - 5% of finance easily make 7 figures. This is more
by vostok 9y ago
> My understanding is that the average finance professional makes less than or equal to tech, but the top 1 - 5% of finance easily make 7 figures.
This is more or less true, but an interesting thing to think about is that the number of people (with technical backgrounds) making 7 figures in financial firms is smaller than the number of people making 7 figures in technology firms. This is probably obvious to you if you work in finance, but I think most outsiders don't realize that.
If you include people with sales backgrounds like investment bankers then the numbers might shift in favor of finance.
- vasilipupkin 9y agoare you sure? how likely is it that an engineer in a technology firm makes 7 figures? I mean what sort of position do you need to have to get there?
- vostok 9y agoI'm not sure how to answer the question. How would you answer the equivalent question about finance? It's not like working in finance guarantees you 7 figures. I know plenty of people on both the engineering side and the trading side who never made more than 2-300k. If you want specific examples from tech then the Waymo article from a while back is helpful, but that doesn't mean that you need to work at Waymo or Google to get there, although a large portion of those roles are at Google-tier companies. Your average agency will not be hiring pure developers and paying them 7 figures, although they might to someone who is generating revenue and bringing in enough business to justify it.
- vasilipupkin 9y agothe op made a claim so I am assuming the op knows how to answer this question. The claim is that many more engineers make 7 figures in tech than in finance. My question, specifically, is, what fraction of engineers in tech make 7 figures, let's say what fraction of engineers with 10 years experience and what are the types of positions at those google tier companies that pay this much. I think this is pretty specific
- vostok 9y agoMy comment was specifically about the "I mean what sort of position do you need to have to get there?" part of your question. > My question, specifically, is, what fraction of engineers in tech make 7 figures I doubt that OP meant that they literally have data showing that it's 1-5%. That's a wide enough range that it's meaningless. I suspect the meaning was more "way above average, but reasonably possible".
- vasilipupkin 9y agoI appreciate the insights but you are not in any way answering my very specific question
- mrep 9y agoI think only distinguished engineers get that outright at amazon of which there are only like 10-15. However, I bet most principal engineers and up who have been here 3+ years are hitting that lately with how good our stock is doing and that amazon pays higher ups mostly in RSU's.
- nerfhammer 9y agoIf literally an engineer, not an executive that used to be an engineer or a famous engineer, this is accomplished by winning the stock options lottery. It seems plausible to me at least that there are more ordinary engineers that have won the stock options lottery across all of tech than the total that are earning equivalent amounts in finance.
- vasilipupkin 9y agoWell, there are more engineers working in tech than in finance. The relevant question is the odds of a particular engineer winning the options lottery than 7 figures in finance