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And yet people making a quarter of the compensation manage to survive. The median household income in the US is $70K

_djo_ 4y ago
As just one example of why that's a flawed way of looking at it, things like alimony and child support are calculated on your income, not on how much you actually live on and put away in savings. So a person earning $120k will all else being equal pay 70% more for those things than someone earning $70k, whether or not they live a less flashy lifestyle. People often also incur substantial costs, almost being wiped out, in moving from poorer countries to places like the US, where they hope to make up the difference and more later on in the new country. If they're laid off just a few years in that could be too soon to have rebuilt their savings. Nor is it reasonable to demand that everyone live as though they're only earning $70k. Saving is good and should be encouraged, but let's not pretend everyone is in the position to be able to save up 6-12 months of income.
- scarface74 4y ago
  > People often also incur substantial costs, almost being wiped out, in moving from poorer countries to places like the US, where they hope to make up the difference and more later on in the new country. If they're laid off just a few years in that could be too soon to have rebuilt their savings And most of them would probably be here on an immigrant visa for the first decade (?). I specifically said that I understand why they wouldn’t be able to quit. > Nor is it reasonable to demand that everyone live as though they're only earning $70k. Saving is good and should be encouraged, but let's not pretend everyone is in the position to be able to save up 6-12 months of income It’s not a “demand” and the result and risk that you take by thinking you are above living below your means should be apparent by what’s happening at Twitter. Since 1996 - the day I entered the workforce as a developer - the number of days I spent worrying about “burnout” after 3 years, a decent resume and savings, was 0. When the pay/bullshit ratio got too high I left. Yes this was in 2000 during the dot com boom, 2008 during the recession and 2020 during Covid.
ryandrake 4y ago
The median savings (not including retirement funds, since we are talking about the go-to-hell fund) is $3,240 for people under 35 and $6,400 for people 55-64[1]. The median USA household is surviving but not successfully saving. 1: https://www.marketwatch.com/picks/heres-exactly-how-much-americans-have-in-savings-at-every-age-and-yikes-heres-what-they-should-have-01659384531 https://www.marketwatch.com/picks/heres-exactly-how-much-ame...
- scarface74 4y ago
  So if the median household is “surviving” someone making twice as much (your typical mid level “enterprise developer” in any major city in the US) can’t thrive or someone working at Twitter who is making three times as much can’t save?
  - ryandrake 4y ago
    I'm saying everyone's situation is different and unique, and it is conceivable that someone making 3X the median income may not, even with effort, be able to save, just as it is conceivable that someone making 1X the median income may, with effort, manage to save go-to-hell money.
    - scarface74 4y ago
      They aren’t able to save because they made different lifestyle choices than the person living in their same metro area making half as much .

As just one example of why that's a flawed way of looking at it, things like alimony and child support are calculated on your income, not on how much you actually live on and put away in savings. So a person earning $120k will all else being equal pay 70% more for those things than someone earning $70k, whether or not they live a less flashy lifestyle. People often also incur substantial costs, almost being wiped out, in moving from poorer countries to places like the US, where they hope to make up the difference and more later on in the new country. If they're laid off just a few years in that could be too soon to have rebuilt their savings. Nor is it reasonable to demand that everyone live as though they're only earning $70k. Saving is good and should be encouraged, but let's not pretend everyone is in the position to be able to save up 6-12 months of income.

scarface74 4y ago
> People often also incur substantial costs, almost being wiped out, in moving from poorer countries to places like the US, where they hope to make up the difference and more later on in the new country. If they're laid off just a few years in that could be too soon to have rebuilt their savings And most of them would probably be here on an immigrant visa for the first decade (?). I specifically said that I understand why they wouldn’t be able to quit. > Nor is it reasonable to demand that everyone live as though they're only earning $70k. Saving is good and should be encouraged, but let's not pretend everyone is in the position to be able to save up 6-12 months of income It’s not a “demand” and the result and risk that you take by thinking you are above living below your means should be apparent by what’s happening at Twitter. Since 1996 - the day I entered the workforce as a developer - the number of days I spent worrying about “burnout” after 3 years, a decent resume and savings, was 0. When the pay/bullshit ratio got too high I left. Yes this was in 2000 during the dot com boom, 2008 during the recession and 2020 during Covid.

ryandrake 4y ago

The median savings (not including retirement funds, since we are talking about the go-to-hell fund) is $3,240 for people under 35 and $6,400 for people 55-64[1]. The median USA household is surviving but not successfully saving. 1: https://www.marketwatch.com/picks/heres-exactly-how-much-americans-have-in-savings-at-every-age-and-yikes-heres-what-they-should-have-01659384531 https://www.marketwatch.com/picks/heres-exactly-how-much-ame...

scarface74 4y ago
So if the median household is “surviving” someone making twice as much (your typical mid level “enterprise developer” in any major city in the US) can’t thrive or someone working at Twitter who is making three times as much can’t save?
- ryandrake 4y ago
  I'm saying everyone's situation is different and unique, and it is conceivable that someone making 3X the median income may not, even with effort, be able to save, just as it is conceivable that someone making 1X the median income may, with effort, manage to save go-to-hell money.
  - scarface74 4y ago
    They aren’t able to save because they made different lifestyle choices than the person living in their same metro area making half as much .