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We live in a world where high pay = status. Not ideal if you aspire the world to be more Meaningful or Spiritual or what have you, but this is reality. And whe
by quartesixte 4y ago
We live in a world where high pay = status. Not ideal if you aspire the world to be more Meaningful or Spiritual or what have you, but this is reality.
And when in the United States alone the average salary hovers around $75K/yr, a 24 year old being able to command a near $150K base-salary (excluding bonuses) is in the eyes of many absolutely flying high.
Add to that Finance/Consulting/Professional Services eats/live/travels/dresses in a manner that is high status in our society and the jobs quickly becomes a status symbol and attracts those who are willing to sacrifice some amount of passion for status or material wealth.
It also is a field where it confers that wealth and status without Having to Know Someone or Be A Genetic Outlier In Physical Performance/Appearance.
Lastly, survive long enough and climb the ladder high enough and you start gaining Power. That wealth no longer buys you things but rather connections, access, and influence. Finance sits in close proximity to many powerful people in the world, and thus by proxy also gains status.
SWE/IT offers similar levels of wealth but unfortunately lacks that proximity to power (yet) and as a class of professionals seems to espouse cultural values that go against the ostentatious displays of wealth that the average person associates with high status. At the very least, no one is showing up to morning standups in a custom tailored suit.
Source: my social circle growing up mostly consisted of working class immigrant families. Getting into a T20 University and breaking into Wall Street was the very definition of Making It.
- hammock 4y agoYou are onto something with the proximity to power thing. A lot of understanding of the world unlocked for me once I started peeling apart wealth & power, how wealth /= power, and how power is the more important end (vs wealth). For example, if anything, someone with a lot of wealth has likely been selling away a lot of power in order to acquire the wealth. >It also is a field where it confers that wealth and status without Having to Know Someone I wouldn't have thought this. What in your view are those fields?
- quartesixte 4y agoHollywood is a prime example of this. Music industry is another. Book publishing is also rife with nepotism but in a non-familial way. Anything media related in general. Even journalism -- Anderson Cooper is a Vanderbilt. Chris Cuomo's father and brother both high ranking politicians.
- quartesixte 4y ago>For example, if anything, someone with a lot of wealth has likely been selling away a lot of power in order to acquire the wealth. O, to the contrary, my dear friend. Someone with a lot of wealth has gained by exploiting their wealth to gain more power -- which results in them gaining more wealth. I would say that the correct equation is Riches!=Power. One can have a vast treasury that, incorrectly deployed, does not gain them power.
- WastingMyTime89 4y agoSome people in finance and consulting think we live in a world where money=status or to be honest the students aspiring to career in finance and consulting tend to think that - people in the trench get pretty jaded. Thankfully this is a microcosm and there is a world beyond that.
- Xeronate 4y agoMaybe you live in a world where high pay = status, but that’s not my experience. I think you at least sort of agree because you note that SWEs don’t have much proximity to power and are lower status because of it. I could have guessed your source just from your initial assertion. Just because that was your upbringing doesn’t make it an objective truth or a value worth considering.
- throwaway2037 4y agoIn what country or culture is "high pay = status" not true? I struggle to think of a single one.
- Xeronate 4y agoMaybe at the entire country level that’s true but why is it important what people that don’t share your values care about? The people I’m surrounded with care much much more about creativity and the ability to have unique and interesting ideas. Salary is totally irrelevant.
- hammock 4y agoFeudal Europe for one. The highest paid were often the merchants. The highest status were the nobility
- ZephyrBlu 4y agoThe mean salary in the US might be $75k, but the median is ~$35k.
- hammock 4y agoSalary or income? The median is brought down by folks with no job who survive on welfare. Is that included in either figure?