If you are a software engineer in the US, you are the wealthy.
Otherwise, dream on.
A lot of professions make more: all doctors/dentists, 50% of lawyers, higher-level university administrators, most MBAs (mid-management and up).
Heck, even some cops in large metropolitan areas can pull 200K+ (with overtime)
Because many software developers in SV might make over 100K (most do) but have vastly less money left over to actually save compared to someone earning less than half that in other places.
I recently considered an opportunity in SV and after getting over the initial shock of how much they thought I was worth, I realized I as in better economic shape staying where I am and earning what appears to be a lot less. And I'm not what I'd consider wealthy at all.
I recently saw an article here on HN about a guy who worked for Google for 10 years then quit and started his own company. He says in that decade he saved 100K, and my thought was, that's all, for 10 years at Google? I earn a lot less than he did, but I'm saving at nearly triple that rate.
2) $100k could be liquid savings in cash, with the rest in GSUs or diversified investments.
https://qz.com/848181/half-of-all-adults-in-the-world-have-l...
That's just not true.
If you're working in SF on 100k/year, your pay after tax is 5750. Spending 2k/month on rent leaves you with 3750/month, which is almost the pay before tax of someone on half that.
> many software developers in SV might make over 100K (most do) but have vastly less money left over to actually save compared to someone earning less than half that in other places.
Not that he couldn't afford to buy a substantial house in SF.
[0] https://www.zillow.com/homedetails/411A-Lincoln-Way-San-Fran...
Frankly a realistic number is $3000/mo for a 1BR and my point is that you could own an incredible home in most of the country for that price. People in SV have Stockholm Syndrome and justify the horrendous cost of living, rampant homelessness, insane working hours etc. with their cries of "but look at all my stock options!"
Meanwhile their counterparts in places like Austin make over $100k, can easily own a substantial home, have excellent life-work balance and shocker... have SUBSTANTIAL SAVINGS as well.
I'm not just talking about rent (which, incidentally, for my family, 2K per month is much lower than the rent we were looking at to accommodate our kids and private life without roommates in SF), but also about how much you spend on your transportation or gas every day, your healthcare premiums and deductibles, cost of groceries and entertainment, auto mortgages and/or insurance for 2 cars (because 1 car for a family wouldn't cut it there).... and the answer becomes obvious.