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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Levels.fyi - Compare career levels across companies
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This year mid terms will be interesting, it will ne interesting to see, will voters blame Biden and Dems for erosion of purchasing power.
Simply by doing this, US would probably enter short term recession, but would emerge much more financially healthy.
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.