What does “Good Salary” mean to you?

Nov 19, 2020 9 Comments

Okay, so I come from a middle class family in NC who was better off than most of the people around me. Living the dream is having enough money to pay off your student loans and other debts while spending time with family and/or friends.

I’ve always been content with what I have, but after being on Blind for awhile, I’m starting to realize I’m not really shooting for the stars or anything here.

Are there really that many SWEs with < 5 YOE who are making $250K+? I mean, location is a big factor, but according to the national and local college graduate averages, it looks like $120K is really top end for 1st year grads in comp sci. In five years should your compensation double? At $250K I can have a pretty great quality of life and save for the future.

What am I missing here? Why do people feel like $350K is crappy pay sometimes (for IMO minimal experience) when they can live debt free if desired, travel, buy a house, support family, save, etc.? Am I just financially...Blind?! (Hahahahaha...)

#personalfinance #help

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TOP 9 Comments
  • Dropbox
    mvGM45

    Go to company page Dropbox

    mvGM45
    Location is the BIGGEST factor. Most companies that pay out at this level require you to be in HCOL cities. Sure, some people choose to live outside of those areas and commute 1-2 hours into office, but most people can’t stomach that kind of trade off.
    A house in a higher COL area in NC will average out to 400k. That same house in Cali could be 1.4mil+. You’ll find some new grads in SF making 200k+ but are living in a 1000sqf apartment with 3 other people. That being said, most of the people I see complaining about their TC are TC chasers, where there is no end in sight. They’ll always want more. Those people do exist. I don’t think it’s necessarily a bad thing. Those people tend to be younger and have much more drive and energy to do so.

    I think if you are able to afford the niceties you want, have time to spend with your family, friends, and hobbies, and stay out of debt, you are doing things right.
    Nov 19, 2020 0
  • Goldman Sachs / IT
    Tnkq999

    Go to company page Goldman Sachs IT

    Tnkq999
    Range $175-200k, with decent 401k match, wfh, about 45ish hours per week, with maybe once a quarter travel, at low/medium CoL place.

    Could care less about promotions etc.

    I'll be happy for life.

    There will always be something that's better (TC wise) out there. If you are simply just chasing TC, you'll find that you never have chance to live.

    Find your own thing and you'll do just fine.
    Nov 19, 2020 0
  • New
    hphb61

    New

    hphb61
    $1M TC
    Nov 19, 2020 0
  • Amazon
    ezcU53

    Go to company page Amazon

    ezcU53
    325k is good to me. 200 isn't bad, but to me 'good' is above average of your peers.

    I'd consider my TC on the low end, because I'm not very good.

    165 TC
    Nov 19, 2020 0
  • Apple
    AAPLHodl

    Go to company page Apple

    AAPLHodl
    Yes there are people making 250k under 5 years of experience. But understand that most of these high packages are in high COL areas like the Bay Area. Where you will easily spend just 50k-60k for a year worth of expenses including rent. Remember that 250k is more like 150k base salary with 70k being RSU and the rest is bonus. After taxes and assuming your selling your RSU’s every year, you will bring back around 155k(you would bring back less if you are putting into Roth or 401k. 155k - 60k(living, rent, food, expenses, etc). You end up saving around 95k cash. Btw, 60k total expenses a year isn’t living lavishly by any means in Bay Area.
    Nov 19, 2020 0