What seems to be happening is that Silicon Valley wages are flat or down (relative to 1998) but the rest of the country is improving. There actually is good new

What seems to be happening is that Silicon Valley wages are flat or down (relative to 1998) but the rest of the country is improving. There actually is good news here, though it might seem otherwise if one takes a Valley-centric approach. In 1998, software engineers in the Midwest generally didn't make six figures. $70,000 was a strong salary for a mid-career (5-10 years) engineer. The $100-140k figures were limited to the Bay Area and New York (around Wall Street) and possibly Chicago (also finance). In 2014, engineers in the Bay Area have lost ground relative to the housing market, and have lost social position relative to well-connected "serial founders" and investors... but on the other hand, you can now work in any of the top ~20 hubs and make 80-95% of what you'd make in the Bay Area.