Bloomberg: Seattle Tech Employees Earn 56% More Than NYC Finance Workers
https://www.bloomberg.com/news/articles/2020-02-2…
Thoughts on this? Surprising to say the least. Seattle tech earns more than both NYC finance and Silicon Valley tech? Significantly more according to this article.
Yeah but they also have to deal with 500% more insanity.
"Wage data includes non-wage cash payments such as bonuses and deferred compensation plans such as 401(k) plans and stock options."
Would this be a possible answer? Specifically the stock option part. Not too many juniors I know get to participate in that
Junior tech employees at Amazon, Microsoft etc all get stock options. That's why this statistic isn't necessarily a great proxy given some junior software developers at FB are getting 100K in stock options at signing but vest over a four year period. Not a big amount paid in cash which is what junior finance guys have an upper hand in
This has been true for a while. Theres like 10k finance jobs that actually pay well...
Finance has been mutilated by regulations, tech’s time will come shortly (see democratic policies and increasing European regulations).
It's skewed because NY finance includes back office and even things like bank tellers, whereas the "lowest" end jobs in tech are like IT support/networking, which are still 100k+ jobs.
These data points are always skewed. "NYC Finance" includes Treasury / P&A / Controller / MO / BO roles whereas Seattle Tech is likely weighted much more heavily towards SWE / PM roles at FAANG.
A more interesting comparison would be NYC FO vs. Seattle Tech.
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