Inflation is corroding our salaries.

Cisco
Dfjg50

Go to company page Cisco

Dfjg50
Apr 12 14 Comments

Around 5 years ago, I started working. I was making 140K as a software engineer fresh out of college. I looked at the percentiles for New York city in levels.fyi and I was making around the median salary. I don't remember if I checked the statistics in the first year of my job or the second year. But at some point around 2017 or 2018, I was around the 50th percentile in New York city.

I was so happy. I said to myself "Hey, I am a fresh out of college grad and I am already making more than half of the developers in one of the richest cities in the world!"

Then in December of last year. I switched jobs and I was making around 230K I checked levels.fyi and it was the 75th percentile exactly for New York city! I was on cloud 9! I barely have 4.5 years of experience and I am already making more money than 75% of the developers in one of the richest cities in the world! In December the 90th percentile was 300K. I told myself that getting to the 90th percentile is my next target.

Today I checked levels.fyi again. Barely 4 months after I joined this job and the 75th percentile has moved to 250K and the 90th percentile moved to 330K! In just 4 months! What the hell lol. Inflation is running wild.

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TOP 14 Comments
  • New
    RazielKain

    New

    RazielKain
    Sadly Inflation will ravage low and mid earners the most.

    This year mid terms will be interesting, it will ne interesting to see, will voters blame Biden and Dems for erosion of purchasing power.
    Apr 12 6
    • New
      RazielKain

      New

      RazielKain
      He can finally start curbing deficit spending => cut military expenditure, cut overseas involments and other money wastes. Put pressure on FED to deal with inflation. Fix tax loopholes for Rich and Corporations.

      Simply by doing this, US would probably enter short term recession, but would emerge much more financially healthy.
      Apr 12
    • Yo it’s job of fed to tame inflation. They were saying it’s transitory when it was clear on the streets and it’s definitely not . Don’t they grocery shop ?
      Apr 12
  • Cisco
    Dfjg50

    Go to company page Cisco

    Dfjg50
    OP
    The ugly thing is that even if you get a 50K raise and your salary goes up from 250K to 300k. A 20% increase in salary. Assuming all of that money you make is paid in cash, Your take-home salary barely increases from 161064 to 188880. A 27K increase(16.77%).

    While the prices of goods are growing at the rate of 8.5% yearly.

    This means that every 18 months you have to keep switching jobs to keep up with the inflation.
    Apr 12 0
  • Financial Services Company / Eng
    zNNW66

    Financial Services Company Eng

    zNNW66
    Welcome to corporate America, suck it up suckers!
    Apr 12 0
  • Amazon
    iwma

    Go to company page Amazon

    iwma
    Is it inflation? I thought it was a hiring and retention issue for tech. That and the Great Resignation.
    Apr 12 1
  • Meta
    public2

    Go to company page Meta

    public2
    Learn to play the game. Tc is for beginners
    Apr 12 0