Hacker News Reader

Comment by mikeyouse | Hacker News Reader

There are roughly ~0 people in finance making a quarter million dollars per year right out of school, and there are tens of thousands of people in tech, probably hundreds of thousands.

I know people in non-engineering, non-sales roles (e.g. recruiting and HR) at large tech cos buying 3rd houses in the Bay Area because their RSUs have appreciated so much so they're diversifying. It's absolutely insane how much wealth is being generated by the stock price run-up.

View on HN

Plenty of people make 250k in finance jobs out of school. The most elite roles go up to 400k

Average new grad salary at FB in the Bay Area is well over $200k. Average new grad salary (e.g. Analyst) at Goldman in NYC is more like $130k. The "finance jobs" that pay new grads that well are typically software engineering roles at finance companies.

A software developer in finance is still a person in finance. Also, I wasn't talking only about starting salaries. The shape of the whole ramp counts. Our oversized finance sector really doesn't need more people providing excuses and rationalizations for how much rent they collect.

There are plenty of jobs outside IB. And within IB the pay rises so fast that the 200k starting at FB is a joke. I work at FAANG, the money is good, but its nothing like finance.

I think there are fewer of those than their are in tech though. But upper limit in finance is a lot higher (for a relatively normal employee, obviously if you start Stripe or something you're going to make a lot more than the average VP or whatever).

quarter million dollars per year right out of school - really?

In total comp - yeah. It's insane. That's what the OP twitter post is talking about. If we see a stock market crash, a lot of that will evaporate, but there is a really large cash component and RSUs are buoying everything to really high levels right now.

Just a new grad thread from Reddit:

https://www.reddit.com/r/cscareerquestions/comments/m635u7/o...

Anecdotally, my friend who just closed on their 3rd house runs engineering recruiting for a large public Bay Area company (and used to run their new grad hiring) so they've told me specifically what that company pays for grads of their target schools which they've obviously honed based on competing offers from other tech companies.

I heard of that happening when I graduated, which was in 2016, so I would not be at all shocked if it's more common now.

Look at a new grad compensation thread on r/cscareerquestions if you don't believe it.

so much for that narrative by the media of millennials and gen-z struggling. Some are but many are not. The media always tries to make these huge generalities.

> Some are but many are not

The more correct summary of the situation is, "some are not, but many are."

Reply on news.ycombinator.com