[cbsmith]

Considering how many engineers would gladly take a below market wage for an opportunity to work at Apple, I don't think that is necessarily out of line with market forces doing their usual "magic". Even economists would admit that wages are not the sole determinant of where people choose to work.

[discardorama]

> Considering how many engineers would gladly take a below market wage for an opportunity to work at Apple

Well, then Steve had nothing to worry about, did he? Then why the secret agreement??

[cbsmith]

> Well, then Steve had nothing to worry about, did he? Then why the secret agreement??

Exactly. The motivations behind this practice, the nature of the practice, and the individuals impacted by it are just horribly misunderstood and distorted because the story that big Silicon Valley success stories are making their fortunes by screwing over the "little guy" (whose base salary is at or above the 98th percentile nationally and well above the 99th percentile globally... and that's ignoring bonuses & equity) is just so easy to sell.

[girvo]

I was thinking about this the other day coincidentally. The only big tech company I would want to work for is Apple, and I'd gladly take a few tens of thousands less than my already far larger than my living expenses wage to have the opportunity to. I wonder what that says about me?

[dhimes]

I wonder what that says about me

For one thing, it says that you are likely young. And I don't intend that as an insult.

[girvo]

Fair! I'm 23, no children, no wife, no particular responsibilities. I suppose that means I can "afford" to take that pay cut and throw myself into something like Apple. The only thing that gives me pause is the reports from those that I know who have worked there is that it's very very demanding, but also very very fulfilling.

[dhimes]

Well, if you're going to do it now's the time. I'll have two kids in college next year, and a third in a few more years. That'll probably run about $300K when all is said in done.

So taking a few tens of thousands of dollars cut for ten years is that.

[cbsmith]

I think it says that the career ahead of you of greater concern than the paycheck ahead of you (or as another poster put it: you are likely young ;-).

[kenster07]

Why are people defending artificially depressed wages? What planet are you from?

[cbsmith]

I'm not defending artificially depressed wages. I'm not even defending what these companies purportedly did. I'm just pointing out that the motivation for and consequences of their actions are being horribly misrepresented and/or misunderstood.

As for what planet I'm from... it's the one where the world isn't black and white and employers aren't automatically the guilty of any and all claims they ripped someone off.

[eli_gottlieb]

>Considering how many engineers would gladly take a below market wage for an opportunity to work at Apple, I don't think that is necessarily out of line with market forces doing their usual "magic".

There's no such thing as magic. This is just as true in economics as in anything else. If wages are down, then either labor supply is up, or someone is cheating.