Curious how this works out financially though. Following the crowd got people into faang with 500k incomes. Working on something obscure I haven’t seen payoff the same.
It varies. Some specialist skills pay -really- well. You don't really hear about them because they're, well, niche.
Equally, yes, some folk rose up through the ranks at fang (or better yet fintech) and make mountains of loot. For each success there's a fair pile of failures though.
To rise up through those ranks, typically you need to make sacrifices. Long working hours, minimal time off, stand-by weekends, emails at night, and (imo) suffering the bs that comes with corporate jobs.
Building your own business are all those things too, but without the corporate bs.
The interesting thing about 500k though is asking what you can do on 500k, you can't do on 300. Or 200. Or in lots of the world, 50.
Time left for relationships, children, holidays, other interests and so on are important to me. So I'm prepared to balance those with raw income. I'm not making anything like 500k per year, but I've turned down fang recruiters because all the money in the world can't make up for what else it would cost me.
You don’t really have to rise up the ranks to make 500k. That’s a competitive offer for a senior engineer or where a senior with a mediocre offer will end up with stack refreshers and stock appreciation in a couple of years withouts any promotion. It sounds wild but is true.
Also, many of the roles are just 40hr work weeks. Not that much more stress than a 150k a year job in my experience.
You are right that after a certain point more money doesn’t give you more utility in the present. However, it does buy you time in the future given the capital that you are bound to accumulate and compound.
I think what GP meant was that money, beyond a certain point, means little. Upto that point money does mean a lot, and anybody who denies that has never lived in poverty.
What that specific point is, depends on who you're asking. If you ask me (a student in India), that point lies around $50k/year. For me that is an unimaginable amount of money, and I don't believe earning any more than that would result in a significant increase in quality of life.
But if you ask someone in USA, you might get a different answer. Maybe for them $300k/year is around where earning more wouldn't necessarily result in a significant benefit.
It depends on where you are, who you've been around, and what dreams you have.
Equally, yes, some folk rose up through the ranks at fang (or better yet fintech) and make mountains of loot. For each success there's a fair pile of failures though.
To rise up through those ranks, typically you need to make sacrifices. Long working hours, minimal time off, stand-by weekends, emails at night, and (imo) suffering the bs that comes with corporate jobs.
Building your own business are all those things too, but without the corporate bs.
The interesting thing about 500k though is asking what you can do on 500k, you can't do on 300. Or 200. Or in lots of the world, 50.
Time left for relationships, children, holidays, other interests and so on are important to me. So I'm prepared to balance those with raw income. I'm not making anything like 500k per year, but I've turned down fang recruiters because all the money in the world can't make up for what else it would cost me.