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That must be due to lifestyle inflation? If you don't save anything on a $100k+ salary, you have only yourself to blame (assuming the savings weren't wiped by m

That must be due to lifestyle inflation? If you don't save anything on a $100k+ salary, you have only yourself to blame (assuming the savings weren't wiped by medical bills or some other calamity). I suspect these people prioritize their McMansion, changing family cars every 3-5 years or funding fancy out-of-state schools for their children over freedom from work.

acdha 6y ago
Have you looked at the cost if living in the Bay Area since 1990? $100k is not exactly buying you a high-end lifestyle involving private schools in a city where under something like $120k qualifies a family as low-income. Both parents in high-income jobs gets closer but then you’re talking about additional expenses like housecleaning, nannies, dining out, and probably multiple cars. SF is an extreme but most of the high paying tech jobs cluster in areas which are closer to that cost of living - doing well, sure, but far from rich and definitely not able to count on being set for life since one illness, untimely layoff, etc. can easily derail a career. That’s not to say that there aren’t ways to economize but there’s a long history of lazy editorializing about how kids these days are spending too much on avocado toast while studiously ignoring the data showing that the big problems are healthcare, housing, student loans, etc.
- pc86 6y ago
  The Bay Area is an outlier as one of the most expensive locals in the world to live in. The median developer salary in the US is somewhere around $100-110k, and the vast majority of those people live outside of SF/NYC and work for boring companies doing boring forms-over-data work. You can save a shitload of money in Iowa making $95k/yr.
  - acdha 6y ago
    I completely agree but how many jobs are there in Iowa paying that much? I'm sure there are some but it's hard to fault people for going where the jobs are.
    - pc86 6y ago
      My whole point is most jobs aren't in SF or NYC, and most software devs make six figures. Even if the high six-figure jobs are concentrated in those two locations (I'm sure they are, especially if you expand it to Austin, Chicago, and D.C.), there are going to be plenty of people making six figures in low COL areas. FAANG only accounts for a small percentage of dev jobs (a few tens of thousands at most, out of nearly 4 million devs in the US). Let's call it 100k to be super generous, and that they all make above the median. With 3.8 million devs, 1.9 make six figures. 1.8 non-FAANG. NY State has 220k developers so let's remove all of them for the sake of argument, even though that's going to include the guys in upstate in low COL, and double-count a bunch of FAANG folks. We're down to about 1.58 million non-FAANG, non-astronomical-COL living folks at least who are making six figures.
      - acdha 6y ago
        The BLS stats might be a good place to test those estimates: https://www.bls.gov/oes/current/oes151251.htm#st https://www.bls.gov/oes/current/oes151251.htm#st Again, note that I’m not saying you can’t make a good living elsewhere - having spent the first 15 years of my career doing that, it’d be odd - but that it’s not a simple ticket to being rich or even especially upper middle class. The pay scales definitely drag down, there are fewer jobs (and thus promotion opportunities), and they’re concentrated in the higher cost areas of low cost states. Still solid, no question, but not a gold ticket. Note that many of the things the person I originally responded to are expenses which don’t scale down: if you live in a rural area your house is cheap but the two cars your family needs cost the same, computers and other consumer goods are only slightly less, etc. Those private schools are cheaper but not dramatically so, etc.

acdha 6y ago

Have you looked at the cost if living in the Bay Area since 1990? $100k is not exactly buying you a high-end lifestyle involving private schools in a city where under something like $120k qualifies a family as low-income. Both parents in high-income jobs gets closer but then you’re talking about additional expenses like housecleaning, nannies, dining out, and probably multiple cars. SF is an extreme but most of the high paying tech jobs cluster in areas which are closer to that cost of living - doing well, sure, but far from rich and definitely not able to count on being set for life since one illness, untimely layoff, etc. can easily derail a career. That’s not to say that there aren’t ways to economize but there’s a long history of lazy editorializing about how kids these days are spending too much on avocado toast while studiously ignoring the data showing that the big problems are healthcare, housing, student loans, etc.

pc86 6y ago
The Bay Area is an outlier as one of the most expensive locals in the world to live in. The median developer salary in the US is somewhere around $100-110k, and the vast majority of those people live outside of SF/NYC and work for boring companies doing boring forms-over-data work. You can save a shitload of money in Iowa making $95k/yr.
- acdha 6y ago
  I completely agree but how many jobs are there in Iowa paying that much? I'm sure there are some but it's hard to fault people for going where the jobs are.
  - pc86 6y ago
    My whole point is most jobs aren't in SF or NYC, and most software devs make six figures. Even if the high six-figure jobs are concentrated in those two locations (I'm sure they are, especially if you expand it to Austin, Chicago, and D.C.), there are going to be plenty of people making six figures in low COL areas. FAANG only accounts for a small percentage of dev jobs (a few tens of thousands at most, out of nearly 4 million devs in the US). Let's call it 100k to be super generous, and that they all make above the median. With 3.8 million devs, 1.9 make six figures. 1.8 non-FAANG. NY State has 220k developers so let's remove all of them for the sake of argument, even though that's going to include the guys in upstate in low COL, and double-count a bunch of FAANG folks. We're down to about 1.58 million non-FAANG, non-astronomical-COL living folks at least who are making six figures.
    - acdha 6y ago
      The BLS stats might be a good place to test those estimates: https://www.bls.gov/oes/current/oes151251.htm#st https://www.bls.gov/oes/current/oes151251.htm#st Again, note that I’m not saying you can’t make a good living elsewhere - having spent the first 15 years of my career doing that, it’d be odd - but that it’s not a simple ticket to being rich or even especially upper middle class. The pay scales definitely drag down, there are fewer jobs (and thus promotion opportunities), and they’re concentrated in the higher cost areas of low cost states. Still solid, no question, but not a gold ticket. Note that many of the things the person I originally responded to are expenses which don’t scale down: if you live in a rural area your house is cheap but the two cars your family needs cost the same, computers and other consumer goods are only slightly less, etc. Those private schools are cheaper but not dramatically so, etc.