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Welcome to the future where the stupid with "credentials" will be ruling you. While you're busy doing actual work, building something, they're building network

Welcome to the future where the stupid with "credentials" will be ruling you. While you're busy doing actual work, building something, they're building networks of support in your employer's structure to enable them to rise. So when you explain something to them and get a blank look or questions that make it clear they haven't understood anything, you'll know why. But hey, they have a Business Degree. They win, not you. Me, bitter? maniacal laughter

nostrademons 15y ago
Median base salary for a Stern school graduate is only $60K: http://www.businessweek.com/bschools/rankings/undergraduate_mba_profiles/stern.html http://www.businessweek.com/bschools/rankings/undergraduate_... I made more than that straight out of college, and now make much more than that. So no, they didn't win. Technical skills pay if you're good at them.
- derrida 15y ago
  If I went at it full-time, I would have made more than that for my casual job I held on the side at university.
- gaius 15y ago
  On Wall Street it's common to have a $60k base and make your "real" money which may be 7-figures in bonuses.
  - nostrademons 15y ago
    Yeah, that's true, but in Silicon Valley it's common to have a $60K base (actually more like $100K, but Wall Street is really more like $80-90K) and then make your "real" money as 7-8 figures of equity. If you're going to look at the top of the financial industry (who are probably not NYU students, sorry), you've got to compare them to the top of the tech industry, the guys who found successful startups.
- equark 15y ago
  That's nyu undergrad business majors. MBA is 150k on average. http://www.stern.nyu.edu/OCD/Recruiters/PlacementReports/index.htm http://www.stern.nyu.edu/OCD/Recruiters/PlacementReports/ind...
  - nostrademons 15y ago
    Total compensation. Only $100K base salary. From the salary survey posted here a couple days ago, a number of HN readers are doing better. Also, remember that that includes an average of 5 years work experience. How much do engineers with 7 years of work experience, or 5 years and a master's degree, make?
    - roel_v 15y ago
      Not sure why the distinction base/bonus matters. What counts is the total one makes at the end, no matter how it's divided. Re: 150k, outside of the Valley & NYC, significantly less.
      - nostrademons 15y ago
        Right, and total compensation for skilled software engineers is easily more than $150K. So in an apples-to-apples comparison, the techies don't come out so bad. The bulk of the NYU grads cited in the statistics above were working in the Northeast (presumably NYC), so again, comparing them to Silicon Valley engineers is totally apples-to-apples. If anything, it's unfair to the Silicon Valley folks, as cost of living is higher in Manhattan than SV.
        roel_v 15y ago
        "Right, and total compensation for skilled software engineers is easily more than $150K" [citation needed] 150+ is still rather unusual, as far as I know. Glassdoor.com says that, for example, at Fog Creek (a company that is quite famous and brags about how well it pays its engineers; and has offices in NYC) the one engineer who filled in his salary makes between 92k and 100k. That's a long way off from 150k, and I'm highly skeptical that even 'skilled' softwared engineers will can easily make more than 150 as an employee. (EDIT: Median software engineer salary in NYC is 80k according to glassdoor.com.)
mikecane 15y ago
I have no idea why everyone has gone off on a tangent about salary. It's not extraordinary for people with lower salaries to rule people who out-earn them (ever hear of Hollywood?). It isn't about money, it's about corporate power.

nostrademons 15y ago

Median base salary for a Stern school graduate is only $60K: http://www.businessweek.com/bschools/rankings/undergraduate_mba_profiles/stern.html http://www.businessweek.com/bschools/rankings/undergraduate_... I made more than that straight out of college, and now make much more than that. So no, they didn't win. Technical skills pay if you're good at them.

derrida 15y ago
If I went at it full-time, I would have made more than that for my casual job I held on the side at university.
gaius 15y ago
On Wall Street it's common to have a $60k base and make your "real" money which may be 7-figures in bonuses.
- nostrademons 15y ago
  Yeah, that's true, but in Silicon Valley it's common to have a $60K base (actually more like $100K, but Wall Street is really more like $80-90K) and then make your "real" money as 7-8 figures of equity. If you're going to look at the top of the financial industry (who are probably not NYU students, sorry), you've got to compare them to the top of the tech industry, the guys who found successful startups.
equark 15y ago
That's nyu undergrad business majors. MBA is 150k on average. http://www.stern.nyu.edu/OCD/Recruiters/PlacementReports/index.htm http://www.stern.nyu.edu/OCD/Recruiters/PlacementReports/ind...
- nostrademons 15y ago
  Total compensation. Only $100K base salary. From the salary survey posted here a couple days ago, a number of HN readers are doing better. Also, remember that that includes an average of 5 years work experience. How much do engineers with 7 years of work experience, or 5 years and a master's degree, make?
  - roel_v 15y ago
    Not sure why the distinction base/bonus matters. What counts is the total one makes at the end, no matter how it's divided. Re: 150k, outside of the Valley & NYC, significantly less.
    - nostrademons 15y ago
      Right, and total compensation for skilled software engineers is easily more than $150K. So in an apples-to-apples comparison, the techies don't come out so bad. The bulk of the NYU grads cited in the statistics above were working in the Northeast (presumably NYC), so again, comparing them to Silicon Valley engineers is totally apples-to-apples. If anything, it's unfair to the Silicon Valley folks, as cost of living is higher in Manhattan than SV.
      - roel_v 15y ago
        "Right, and total compensation for skilled software engineers is easily more than $150K" [citation needed] 150+ is still rather unusual, as far as I know. Glassdoor.com says that, for example, at Fog Creek (a company that is quite famous and brags about how well it pays its engineers; and has offices in NYC) the one engineer who filled in his salary makes between 92k and 100k. That's a long way off from 150k, and I'm highly skeptical that even 'skilled' softwared engineers will can easily make more than 150 as an employee. (EDIT: Median software engineer salary in NYC is 80k according to glassdoor.com.)

mikecane 15y ago

I have no idea why everyone has gone off on a tangent about salary. It's not extraordinary for people with lower salaries to rule people who out-earn them (ever hear of Hollywood?). It isn't about money, it's about corporate power.