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Headline is "Tech Workers Aren't as Rich as They Used to Be" and to save you a click, the TL;DR: is the death of ZIRP erased the inflated paper value of public

Headline is "Tech Workers Aren't as Rich as They Used to Be" and to save you a click, the TL;DR: is the death of ZIRP erased the inflated paper value of public and private tech stocks. Key takeaway here is you should never plan your life around the value of stock-based compensation. The story is also very specific to people who thought that stock comp was real enough that it was a sure bet they could buy homes in insanely expensive markets like the Bay Area, Seattle, etc.

ergocoder 3y ago
The stock compensation was crazily high that it was unbelievable. Back in 2014, I told my family I earned 600k/year after joining as a new grad (with promo in a few years). My company went IPO and etc. My family and cousins just couldn't believe it and insisted that I didn't understand the compensation and that it was for 4y. My cousin who is a lawyer in a top US law firm just couldn't believe it lolz. I consulted a tax accountant, and they were "oh you are doing pretty well?". I quitted the job after 4y and wanted to travel around Europe. I had to get a visa, and the German consulate just couldn't believe it too. They called and asked why I quitted my job... it didn't make sense to them. People just didn't grasp the gravity of tech compensation.