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The chip industry obviously isn't struggling to attract the next generation, as can be seen by the fact their salaries in the article are about in line with eve
by roenxi 2y ago
The chip industry obviously isn't struggling to attract the next generation, as can be seen by the fact their salaries in the article are about in line with everyone else's. I've worked in industries that struggled to attract people, it looked like 2x, 3x, 4x and 5x salaries for what a given skill-set would reasonably be valued at and they still sometimes have to hire unqualified people. And train them, shock & horror.
These articles crop up from time to time and I really don't think the frame is hitting a high standard of thoughtfulness. Or it is a surreptitious attempt to influence government policy in which case fair enough. The problem with the chip industry is that Asia has a comparative advantage at it, probably because that is where all the advanced industrial capital investment is happening. It has nothing to do with people - it is usual for these matters to turn out to be a regulatory problem when the superficial issues are peeled back.
- logicchains 2y ago>The problem with the chip industry is that Asia has a comparative advantage at it, probably because that is where all the advanced industrial capital investment is happening Asia has a comparative advantage because labor is much cheaper there. PHDs working at TSMC in Taiwan make less than fresh grads working in software in the US.
- vkazanov 2y agoEverything hardware on all levels pays significantly less than software, be it US, UK or Asia.
- roenxi 2y ago> Asia has a comparative advantage because labor is much cheaper there. You started the sentence with comparative advantage then transitioned smoothly to an absolute advantage - if you want to see low wages, look to Africa. Relative wage levels doesn't determine directly cause comparative advantages. I also note you're also implicitly disagreeing with the article and suggesting that compensation gap is not a myth.