FAANG jobs still require less schooling, less knowledge, pay more and don't require you live in awful places.
Lots of us left the field or retired. Call us when semiconductor companies start paying real money.
Lots of us left the field or retired. Call us when semiconductor companies start paying real money.
> Lots of us left the field or retired. Call us when semiconductor companies start paying real money.
The future will rather be that FAANG jobs will pay much less, thus the salaries in the semiconductor industry will become somewhat competitive again.
When a company makes 2 million USD per engineer and year and can afford to pay less, it will. :-)
Straight from the horse's mouth I know that quite some very intelligent, insanely well-educated (in a relevant direction, say, doctoral degree in mathematics, physics, stochastics, ...) and hard-working people don't have the personality traits that finance is looking for.
I know quite some insanely talented people who could not, for example, get a permanent position in research (for reasons that have nothing to do with the quality of their research) who would, as mentioned, rather stand no chance of becoming hired in finance (if I had a startup, I would seriously consider hiring them).
So the whole advice of "go into finance" is in my opinion divorced from the reality.
Of course I expect it will continue to provide high incomes for quite some time. There are few things I can think of that wouldn't be improved by software, and as long as that holds true it means there's more demand for software.
Do you think you need to be a trigger happy real time shark to craft that HFT backend code on top of which the actual trading will take place?
I work in an office that has a sizable software development department, so I'm quite familiar with what they do, and what their work environment is like. It's not some distant mysterious place. They're my lunch buddies.
There are also lots of people who are quite bright, and do difficult mental work at lower pay, yet don't learn to program for whatever reason. Those of us who program know that it's actually quite easy, yet is an impenetrable barrier for most people, and we just don't know why.
There will always be somebody who makes more than you do, but it doesn't explain why people aren't all leaving their jobs for higher paying ones. Part of it may be psychological inertia -- I might be guilty of that myself. But I think another part is that we don't actually know the recipe for success.
Last I checked, they generally do require you to live in SF, Seattle or similarly "awful places". If anything, rampant homelessness and crime seem to be highly correlated with cities that have "FAANG" HQs.
If you need a code to enter the bathroom at your local coffee shop, you might want to consider moving somewhere with a bit higher baseline for public spaces.
It’s not just homelessness, though. Stores here in Taipei aren’t shutting down due to huge losses from shoplifting, but that’s happened to multiple places I used to go to regularly in SF. Nobody I know here has been robbed in public, either. In contrast, my friend’s mom had her purse stolen from her in broad daylight on the street in SF and several other friends had their cars broken into.
The west coast of the US has a crime problem.
Why not compare it to another American city? You'll quickly discover that these 'worst' cities are middle of the road when it comes to most forms of crime, the real horrible places in the US are not in the liberal coastal states. The vast majority of them are in the tough-on-crime god-fearing ones.
(I also always found it a little weird how many of the stores citing crime for closing are ones that just happened to have unionized, but maybe that's just a coincidence...)
Source: their (outsourced) recruiters admitting this to me.
This is of course illegal in most places, but to counter this in court you need a whistleblower willing to go public and expose them with hard evidence, but since the workers actively involved in these wage fixing schemes are very well compensated along with NDAs, they have no reason to throw all that away in exchange for no other company hiring them ever again and your ex employer suing your for breaching your NDA. Sure, you might eventually win in court, but do you really want to drag your family through expensive lawsuits against mega-corporations who spend more on toilet paper than you can on a lawyer?
As we can see from the current situation where the USA is completely reliant on foreign fabs and unable to make its own partly due to a shortage of skilled and willing labor
What is NOT illegal is to all hire the same "outside consultants" who give you the same slide deck they give all the other employers, that "agrees" to the same wages giving them something to point at.
Isn't that grand?
unfortunately you can't expect people as individuals to make those calls. You need mechanisms that properly value long-term sustainability
GP is right, so rationally everyone who could - would rather live in Mountain View and work a FAANG job than live in some factory town in the Arizona desert.
Apparently there just aren't enough such people, so FAANG will keep paying more and those who can't get these jobs will have to take the worse paying position that requires harder work, more dependency on a single employer, under far worse working and living conditions.
Phoenix isn't some "factory town". But your general point is true - wages in the electronics sector are stuck at the same amount that they were in the 2000s.
That's why companies like Andruil and Tesla can poach electronics and MechE talent with still low but not as low wages (110-130k with a bunch of stock versus 70-100k with almost no stock).