I have seen a few questions regarding high tech salaries, along with comparisons to investment bankers when it comes careers. Amazon’s market cap is $1.24 Trillion. FAANG alone has a combined market cap of $5 Trillion. Goldman Sachs, Morgan Stanley, And JP Morgan Chase is $580 Billion combined. In 2018 there was an article that Amazon and Apple were larger than the 114 biggest banks in the United States. The reality is tech dominates the world, and salaries reflect that. SDEs (I am not) can bring in millions of dollars of revenue, just like investment bankers can. Until tech shrinks (which is highly unlikely) high tech salaries are here to stay. At the end of the day, it’s capitalism. I see a lot of people concerned about the longevity of their careers and salaries, wishing they were doctors or lawyers. But there is little difference between the career of us in big tech and other high paid industries. Just as investment bankers have to work their ass off, so so a lot of tech workers. The only difference is we can do it at home. TC: $280K
Market cap is irrelevant. It comes down to profitability of the employees.
Sure, which is high for both right?
Market cap is the better KPI for measuring total economic/relevancy impact..which is what op is discussing. Mkt Cap is primarily derived as a multiple of revenue. Bigger the revenue, bigger the payroll. Profit is a red herring in macro econ discussion
The banking industry is built on top of big tech at this point
This is also a valid point. I was reading how AWS is considered “too big to fail” at this point because of the critical banking infrastructure running on it.
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Agree. The first argument is outsourcing, but as far as I know, SDEs in India are making 60k USD or more. which shows that it is nowhere close to happening if their “outsourcing” is paying the US median household income
Yep, absolutely. Not to mention many positions simply can’t be outsourced. I’m a TAM and there’s zero chance an American company is going to want to deal with time zone and language issues, not to mention it’s difficult to have on-site visits from another country. Same with SDE, they’ve discussed outsourcing from decades but it doesn’t seem to have taken hold.
Unless they develop technology with the power to translate live audio in Zoom calls. I read that Zoom actually purchased a company that is working on developing this kind of technology. That's a ways off though.