3 ms·
I reckon there are 3 factors here that determine the salaries, one being mentioned in the article: 1. Equity Most high "salaries" are more sharing of the profi
by OlafM 8y ago
I reckon there are 3 factors here that determine the salaries, one being mentioned in the article:
1. Equity
Most high "salaries" are more sharing of the profit or stock then mere salary. Lawyers become partners and thus share in the profit the firm makes (same goes for consultants)
2. Supply and demand
There are way more positions than people willing to do the work.* So the ones who do, can pick 'n choose there employer. Thus work conditions improve, as do salaries. Most other professions mentioned are high stake jobs, but with more willing to do it * * . So once you're in, it is still possible for the employer to demand hard work, because you're more replaceable.
3. Scalability
The work of a doctor is limited to the amount of patients.
Lawyers can do large cases (then they get paid much), but most of them will do work that effect a limited amount of people
Code (especially at the big 5) reaches literally billions of people.
So the values you can possibly add is huge.
* I think it is still kind of weird how many people don't even try to learn how to code (or scripting) while working in excel all the time, it's a magical barrier, few dare to cross.
* * I don't know why, but I would guess it's because (i) The sciences are viewed as arcane or simply unreachable for many people (self-claimed "I just can't do math") (ii) those job tend to have more social status (think Suits for lawyers & Grey's Anatomy for doctors, to name a few)