Starting Janitors in the Bay Area make more than RE Analysts...
It's mind boggling how much Kool-aid we drink when we take crappy low paying analyst jobs. You went to college for four years, paid tens of thousands for tuition, room, and board; then go work a job that pays less than a starting janitor?
All for the promise of a pot of gold at the end of the rainbow!
https://transparentcalifornia.com/salaries/search/?q=janitor&y=2020
Comments (33)
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What RE analysts are pulling in 150K to 170K total comp?
Brokerage. Large Funds.
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You're counting benefits as pay, that's just silly (if you count contribution matching/other retirement plan incentives, work perks, etc. etc. for real estate analysts I'm sure it is just as much in benefits if not more). Looking at salary, overtime, and "Other Pay" its more like $100-$110k, which analysts in any major metro in the US should be making.
Not to mention being a janitor is thankless, backbreaking work with essentially no potential for pay scaling, while you start out at their peak career annual earnings in your first year as an analyst?
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I'd argue the janitors do more than a first year re analyst so this makes sense to me.
100% If anything first year analysts are a drag on productivity and by no means self-sufficient. Takes time to breed them into young stallions so they can repay you by jumping ship to a large shop, unlearn what you taught them, and overvalue properties to grow AUM.
I used to work in the security field when I was younger. I remember reading that some security officers that work directly for the state/city were banking 100k-300k in total compensation.
It wasn't unheard of to do federal contracts (courts, etc.,) and breaking six figures.
Well, it's supply and demand. Janitors do more work, have a harder job, and are harder to find than analysts. Lot of talk about how being in finance is a skill and therefore deserves more pay than a blue collar job, but the tune changes when the shoe is on the other foot, it seems
If you click on the peoples names, it shows you their compensation breakdown. Very vague and "Benefits" makes up a large portion, whatever that is. On base, overtime, and other, I guess they have some of you guys beat. But, how old are these people and how does the compensation scale that's what really matters. If you're a 23 year old analyst in the Bay Area making 125k+ I wouldn't stress over this
Pension.
Getting a pension is hard to come by these days. They are nice, though.
That's more money than every starting salary besides FAANG SWEs and BB/EB banking
highly doubt those people are starting. most likely they've been working for 30+ years for the state so that's why they earn that much
Yes, except you are missing the obvious subtext underlying this post, which is that being an "analyst" is an important job, one which requires a suit and tie and using Excel all day, and being a janitor is a less skilled career and quite frankly a benchmark against which any other job can say "well it takes more skill than a janitor," and it is pretty easy to read the disdain for this kind of manual labor.
Half the reason people go into finance-oriented roles is for the feeling of superiority that comes with making more in a higher prestige job than, say, a janitor. Take that away and all of a sudden you're making less on a per hour basis and can't look down your nose at people? The horror!
don't believe anyone is implying that an analyst's job is "important". We all know it's shit, and gladly take it because of the exit opportunities and earning potential straight out of college. Just pointing out that comparing these janitors, who have all likely worked 30+ years, is apples to oranges to a fresh college grad. OP said "then go work a job that pays less than a starting janitor?" which is just false.
don't know about most people on here but I have respect for anyone who can hold down a hard job like a janitor for 30+ years
Bro, that's starting. Tenured janitors are pulling in $250K+ in the Bay Area.
Tons of news articles on it.
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Maybe it's just me, but the OP seemed upset because it was a janitor making that kind of money, not because of how long they'd been doing it. After all, no one would complain that a CEO making more than them was wild. It's the nature of the job that is bothering the person, not anything else. Janitors probably should make more than a random financial analyst - it's a harder, dirtier job with less opportunity for future wage growth (hypothetically). Everyone is all about the market adequately valuing skillsets until someone they look down on starts making more. Then it's all about how the job market is out of whack.
Naw bro, I ain't made janitors make cheddar.
I'm mad we clowns in real estate are deluded by some promise of carry in half a decade that may never materialize.
The market has moved, inflation is running hot, and I still see fresh undergraduates from top universities pulling in the same starting pay I did 6 years ago. Fucking sack up kids and move the pay scale.
IB bumped up starting salaries by 40%. 40 fucking percent.
And we have some simps on here even considering a crappy $60K to 70K starting salary with a 5% bonus or some shit. Crazy.
what the fuck is the point of this post? have some self esteem, chill the fuck out and look at the bigger picture. Jesus this mindset you have is depressing.
I am with you on the "it was a sacrifice" part, but I am pretty sure janitors have to pay living expenses as well even at the entry level. I am not totally sure what paying for food and housing through the uni gives an analyst above a janitor or any other professional for that matter.
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