That is partially true. The absurd remunerations of SV engineers factor in the cost of living, for sure, but generally people can consolidate a decent amount of capital in a few years if they have a good position.
Even if you have to spend $2000 for a two-bedroom flat, if you earn $150k/yr you are likely able to save more money than someone earning €50000 with a €500 flat.
(I am not saying SWEs are underpaid in the EU, if anything it is still an absurd amount of money compared to people who add real value to society, but there is certainly a stark contrast)
It's not just accommodation. Larger European cities are also usually pretty good for walking / cycling / public transport, so you often don't need a car. Cost of schools starts at $0 (details depend on a country). Basic coverage means you may not need a hospital visit emergency fund. Etc.
That is true. I am not disparaging our (most of europe’s) social security model, which I would never give up for a US-like one; but at higher levels of compensation that is usually not a factor, unless you have a terminal illness that will gut your finances.
(I am european with a MSc and have never paid for education, do not have a car, and am very happy with most of the social security programs. I only tried to see things from another point of view)
Have to agree with oji0hub. Once you factor in cost of living, health system, governmental support etc. Life in Germany is actually ahead of its American counterpart.
Even if you have to spend $2000 for a two-bedroom flat, if you earn $150k/yr you are likely able to save more money than someone earning €50000 with a €500 flat.
(I am not saying SWEs are underpaid in the EU, if anything it is still an absurd amount of money compared to people who add real value to society, but there is certainly a stark contrast)