[nknealk]

While you’re focused on labor, equity is a stronger driver of wealth inequality than labor wages. Yes, there are engineers clearing half a million dollars a year. That’s nothing compared to how the movement in equity prices affect wealth. For example, Microsoft’s CEO was given 2.5M in base salary vs 33M in stock [1]. A 10% movement in the price of Microsoft stock dwarfs his base salary. In the past 5 years, Microsoft is up over 300%. It’s owner’s equity, not salary, that drives inequality. Many front line workers don’t even quality for equity grants.

[1] https://www.geekwire.com/2021/report-card-microsofts-board-b...

[Elyra]

Yep, and also just want to add that the engineers making ~400k are paying around ~150k in taxes, probably have a PhD so they didn't even earn much of anything and lived off of instant ramen packs until they were 30, with over 100k in debt. This is the boat I'm in, and unless I get lucky and get one of these jobs when I graduate, I probably won't be able to afford having kids until I'm 40, while my buddies who started working right away already have a house and a kid or two. We're all part of the same working class, and the ones with equity love to see us squabble over what is pennies to them. You also don't pay as much tax on capital gains as salary.

[bradlys]

Not to rain on your parade here but I’d say while your story is common enough - it’s not most people’s situation.

I graduated with a BS at 23 and was making that ~400k/yr by 30. (Even 1,000,000+/yr before that actually - equity grants are beautiful until they crash…) Now because I’m a dipshit who held onto all the stocks rather than sold - I actually have only ever really lived off of a much more meager salary and most of my equity has vaporized…

But if I had sold… If I had… :’(

Again - I’m an unexceptional case. Like super boring. First generation college student. Grew up poor-ish. Rural American. Yadda yadda but made it quite well if you ignore my equity constantly getting destroyed by interest rate hikes and what not.

[crate_barre]

Taxes are kind of understated. Even if you take an average tech salary in a major city, taxes and rent just eat a large portion of it. Then it takes a deliberate attempt to not spend what’s left to make any forward progress towards a mortgage for example.

If you spend casually on what’s left, you are essentially working to live.

[Rastonbury]

"Don't look at me, look at the CEOs!"

[all_factz]

“Gosh just be nicer to the CEOs!”

[bspear]

Agreed! Greatest driver of inequality is not salary but equity. If more employees (including frontline) got some equity, even if it was a tiny %, could make a huge difference to their lives.

Particularly true at early-stage startups: https://topstartups.io/startup-salary-equity-database/