4 ms·

So you make 140k+ a year? That's an extremely high salary for Germany, you must be in the top 1-2% of earners in the country. Going by levels FYI, this would p

by mcntsh 3y ago

So you make 140k+ a year? That's an extremely high salary for Germany, you must be in the top 1-2% of earners in the country. Going by levels FYI, this would put you in the 95th percentile, the equivalent in NYC would be $400,000. Which is nuts combined with your 20k/yr living expenses. When did you get your apartment, 2009?

pillefitz 3y ago
Yes, that's right. Unfortunately I don't own any property. Rent is around 1500-1800eur a month for a two person appartment in a bigger city
dragonwriter 3y ago
So you make 140k+ a year? He said he made 80k Euros ($84.5k) and save 60k euros from that. Where do you get 140k+?
- mcntsh 3y ago
  80k net is around 140k gross.
- atomicUpdate 3y ago
  You’re ignoring the “after tax” at the very beginning of his statement.
gen220 3y ago
Just for reference, converting to USD $150k be in the top 6-7% of earners in the U.S. in 2022. Taxation rates vary widely. I budget for ⅓ off the top, living in NYC (this is an overestimate, but common practice) for a post-tax income of $100k. High income geographies are correlated with high tax rates in the U.S., too. Anyways, all this to say that U.S. post-tax-post-benefits income is not wildly different from the E.U. Maybe the main difference is that you can work as a freelancer, expense everything, and effectively opt-out of health insurance, and take home more salary. But if you're salaried and in tech in the top quartile of the labor market, post-tax savings is pretty much the same in western EU vs U.S. There's no 10x difference in wages, (excluding equity performance, which is not a tax/benefits policy issue). In general, E.U. citizens I know who have come to the U.S. do it because the businesses here are more interesting and have more upside (i.e. the aforementioned equity upside component). If they're making bigger heaps of money, it's because of startup equity comp, not because of tax or benefits policies.
- mcntsh 3y ago
  Look if you normalize it across all jobs yes but I'm talking about specialized jobs. The ceiling is much higher in the US and it's not even close. A doctor might hope to make 140k towards the end of their career in Germany, a new grad will make this in the US. > But if you're salaried and in tech in the top quartile of the labor market, post-tax savings is pretty much the same in western EU vs U.S. There's no 10x difference in wages, (excluding equity performance, which is not a tax/benefits policy issue). As someone who's worked in top companies in Germany and the US, I feel confident enough to weigh in on this. Top earners might make 200k TC in Berlin, but engineers at this caliber will earn 500k+ in NYC. And no, rent and tipping in restaurants does not take up that 300k difference. > If they're making bigger heaps of money, it's because of startup equity comp, not because of tax or benefits policies. They're making more money because American companies pay more money, because they make more money, they have access to more capital, they hire in a more competitive market.
yodsanklai 3y ago
Working for a Google/Meta as an L5 engineer in Europe take you in the 160-200K league. This would be 300-350K in NYC/Bay area for the same role and company. Considering living expenses and more vacation in Europe, it's not that different. A difference though is that you have many more opportunities in the US to match FAANG Salary than you have in let say France or Germany.
- mcntsh 3y ago
  Ironically, these salaries are really mostly only attainable working for American companies. Some facts for anyone reading: - 350k is like 200k net in CA - 200k is ~110k net in Germany - ~90k post-tax difference - Germany: 25 days PTO min - Meta: 25-30 days PTO min - Google: 20 days PTO min Considering COL differences, you'd probably save 40-50k more in the US than Germany with these numbers. Maybe it's not significant enough to lose the EU lifestyle bonuses but it's also not nothing.

by mcntsh 3y ago

pillefitz 3y ago

Yes, that's right. Unfortunately I don't own any property. Rent is around 1500-1800eur a month for a two person appartment in a bigger city

dragonwriter 3y ago

So you make 140k+ a year? He said he made 80k Euros ($84.5k) and save 60k euros from that. Where do you get 140k+?

mcntsh 3y ago
80k net is around 140k gross.
atomicUpdate 3y ago
You’re ignoring the “after tax” at the very beginning of his statement.

gen220 3y ago

Just for reference, converting to USD $150k be in the top 6-7% of earners in the U.S. in 2022. Taxation rates vary widely. I budget for ⅓ off the top, living in NYC (this is an overestimate, but common practice) for a post-tax income of $100k. High income geographies are correlated with high tax rates in the U.S., too. Anyways, all this to say that U.S. post-tax-post-benefits income is not wildly different from the E.U. Maybe the main difference is that you can work as a freelancer, expense everything, and effectively opt-out of health insurance, and take home more salary. But if you're salaried and in tech in the top quartile of the labor market, post-tax savings is pretty much the same in western EU vs U.S. There's no 10x difference in wages, (excluding equity performance, which is not a tax/benefits policy issue). In general, E.U. citizens I know who have come to the U.S. do it because the businesses here are more interesting and have more upside (i.e. the aforementioned equity upside component). If they're making bigger heaps of money, it's because of startup equity comp, not because of tax or benefits policies.

mcntsh 3y ago
Look if you normalize it across all jobs yes but I'm talking about specialized jobs. The ceiling is much higher in the US and it's not even close. A doctor might hope to make 140k towards the end of their career in Germany, a new grad will make this in the US. > But if you're salaried and in tech in the top quartile of the labor market, post-tax savings is pretty much the same in western EU vs U.S. There's no 10x difference in wages, (excluding equity performance, which is not a tax/benefits policy issue). As someone who's worked in top companies in Germany and the US, I feel confident enough to weigh in on this. Top earners might make 200k TC in Berlin, but engineers at this caliber will earn 500k+ in NYC. And no, rent and tipping in restaurants does not take up that 300k difference. > If they're making bigger heaps of money, it's because of startup equity comp, not because of tax or benefits policies. They're making more money because American companies pay more money, because they make more money, they have access to more capital, they hire in a more competitive market.

yodsanklai 3y ago

Working for a Google/Meta as an L5 engineer in Europe take you in the 160-200K league. This would be 300-350K in NYC/Bay area for the same role and company. Considering living expenses and more vacation in Europe, it's not that different. A difference though is that you have many more opportunities in the US to match FAANG Salary than you have in let say France or Germany.

mcntsh 3y ago
Ironically, these salaries are really mostly only attainable working for American companies. Some facts for anyone reading: - 350k is like 200k net in CA - 200k is ~110k net in Germany - ~90k post-tax difference - Germany: 25 days PTO min - Meta: 25-30 days PTO min - Google: 20 days PTO min Considering COL differences, you'd probably save 40-50k more in the US than Germany with these numbers. Maybe it's not significant enough to lose the EU lifestyle bonuses but it's also not nothing.