Sure, nobody needs $250k per year to survive. CEOs also don't need to have an obscene compensation ratio compared to their workers. Health care companies don't need to rake in billions in profits every quarter. Sitting congress people don't need to conduct stock trades worth hundreds of millions every year. But here we are.
Companies paying everyday employees competitive wages in a free market is way down on my list of things to lose sleep over. We have a few other systemic issues I'd like to see solved first.
Insane levels of inequality is what’s on my list
Same for startups, except there it's a VC betting that he'll make $50M if he gives 10 companies $2.5M so that they can each pay 10 engineers $250k.
We don't live in a system where what you "deserve" has anything to do with what you get; the factors are how much cash you're expected to bring in and how much leverage you have when splitting up that cash between you and the company.
My issue is I just don’t see the world in this money focused way. From out here, in the land where it’s sort of average to earn maybe $50k and feel pretty good about that, it looks pretty sick. I don’t get it, I don’t like it, it feels disingenuous to support it with what seems to be an endless “it’s ok, everyone does it” or “that’s just how the system is” argument.
Maybe if those guys gave away 50% of their salaries to support good causes, I’d feel better about it. But I’m betting my ass they don’t.
- Have enough financial security to know that you can weather most emergencies, medical bills, etc.
- Tip well and support your friends' businesses
- Retire before you're too old to enjoy it. Or take a sabbatical.
- Do good. Let's say you want to give $10k to charity. Very doable on $250k, but asking a lot on $50k.
- Buy more ethical products (whatever this means to you)
- Avoid a lot of the soul-crushing bullshit of everyday life. Car doesn't run? Landlord is trying to screw you? You can solve those problems with money.
There are a lot of rich assholes out there, but they would have been assholes even if they were poor. You won't turn into one if you have a different outlook.
> Maybe if those guys gave away 50% of their salaries to support good causes, I’d feel better about it
Do you give away 50% of your salary? How would you feel about someone who only clears $30k claiming you don’t need that money and that you should give away 50%?
Introspect why you have tall poppy syndrome, it’s toxic and will hold you back.
FWIW, some context:
- I live on a household income of maybe $100k for a family of 4, by the sea in Cornwall. We live what I would personally consider an extremely luxurious life: a 5 bed house, lots of space, lots of greenery, big skies, amazing seas, and time to look at them
- I work way less than a 40 hour working week. I work with non-profits. I love what I do. It makes me happy.
- I see my kids. I see my wife. I hang out with my friends. I have hobbies. I'm putting aside enough for a pension. No, I won't be able to retire at 50 (I'm 49!), and I'll probably still be doing this in 10 / 15 years' time. But it's fun, thoughtful work that (I hope) isn't going to kill me.
As you've asked - no, we don't give away 50% but we are gifting 10% of profits this year, to see what it means, and will likely be upping this and taking the Effective Altruism pledge next year. It's a small amount, but it feels important and the right thing to do.
I had to look up "tall poppy syndrome" - I'm getting old :-) To respond to this particular criticism - I mean, I guess I'd ask "what is success?" here. I don't know if there's a way of saying this without sounding highly antagonistic or patronising, but for me it's less about criticising those who have found "success" and more that I feel sad for people who think money is everything. It strikes me as the ultimate folly.
And thanks, but I don't feel held back. I feel pretty good. Anyway, It's 10am on a Friday morning and I should go start work ;-)
Why is it normal in your mind for a lawyer to make that? Why a doctor? Why the owner of a small business? Why an exec?
> No-one needs that kind of money.
Money hasn’t been issued based on need ever in the history of the world. How is this any different?
At this point in time, they're not valuing their time, but their overall value that can be brought into a company.
So just the same as a top sales person that can bring in millions of dollars of revenue can earn a certain percent of that as commission, the best engineers can strike a similar deal.
I'm currently renovating an old house, I certainly need it :-)
But I like to tell myself that maybe, just maybe, it's not like the world owes me a possibility to have house. And maybe I don't even need or should have one. Its just my greed that pushes me towards having more stuff (and thus need more space to keep it).