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US FAANG IT salaries are insane, well beyond normal, especially compared to european ones. I know these companies made an insane amount of money, but still they
by albertopv 4y ago
US FAANG IT salaries are insane, well beyond normal, especially compared to european ones. I know these companies made an insane amount of money, but still they were outrageous.
- isthisthingon99 4y agoHere is the thing... Person A and B create system X that is responsible for some % increase in revenue. Person A and B should be compensated well, so they don't go over there and create system Y. Especially given the FTC might be clamping down on non-competes, this is a plausible scenario. Person A and B eventually tired of maintaining system X, so they bring in new people. The new people, once they have earned the trust of persons A and B are now the successors. The successors should also be paid well for the same reasons. Scale this up, and you get the salaries. I know this because I spent my career becoming the new persons A and B, and the bean counters always hated people like me. The salaries are thus well deserved, but that is why the companies are trying to create electronic slaves that can be driven by a few persons A and B.
- albertopv 4y agoThat worked for big american tech companies only thanks to the insane amount of money they made, also thanks to the de facto oligopoly they have. Alphabet inc alone made 70B of net income in 2021. I know no other market like this.
- pfarrell 4y agoOutrageous salaries are part of FAAMG’s* moat. It’s very hard to lure a googler away to your startup when you can only afford to pay them half their current salary. And even if said googler is interested, their lifestyle is now depends on that salary. * I don’t count Netflix as in league with the others