{ "media_type": "text", "post_content": "A lot of my close friends in Tech are SWEs and are making ~400-500k / year.\n\nI am in Consulting and make ~160k/yr. I know this is already a lot and I am super privileged, but I still struggle with comparison. I have no interest in being a SWE but I still struggle with the lesser money I make.\n \nHow do I deal with this apart from aspiring for higher paid professions?", "post_id": "61c6bc0d2f28b3002e4ac519", "reply_count": 267, "vote_count": 33, "bowl_id": "552d1d24dc1c586b09d2d051", "bowl_name": "Consulting", "feed_type": "crowd" }
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A lot of my close friends in Tech are SWEs and are making ~400-500k / year.

I am in Consulting and make ~160k/yr. I know this is already a lot and I am super privileged, but I still struggle with comparison. I have no interest in being a SWE but I still struggle with the lesser money I make.

How do I deal with this apart from aspiring for higher paid professions?

likehelpful
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RSUs are the differentiator. Their base is in line with ours (if not lower)

The way I justify this is that

- They need to pay up 45%+ tax on that money (high marginal tax at that income level) if they ever vest those shares.
- 400k can easily fluctuate to 250-300k if market pukes
- They gotta buy 2.5M+ house in HCOL area. While my HHI is 350k in MCOL I can buy a really great big house in 1M in a superior school district. The corresponding figure for them will be 3.5M+. All this extra money of theirs will go into down payment of house and mortgage

likesmart

Ok. Good to know! It’s a great exit ! Congrats

likehelpful

So couple thoughts -

please don’t feel guilty for having ambition , desire to earn more for yourself , your family and maximizing your wealth and potential in your prime years . The social contract in America is one that is about pushing oneself to become an
Outlier achiever and making a lot of money in the process

B - you are absolutely right about your
Peers in tech - software is eating the world and they will continue to make a lot of money
The bill market may end but so what you don’t have to cash your RSUs. You can hold onto them
For long term recovery or you can cash them ASAP when the time is right so please don’t convince yourself that that

like
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Others have already addressed this, but your close friends aren't actually making ~400-500k / year - not as SWEs, and if they are, it is TC and the majority of that is equity that might have some perceived worth right now, but for 4/5 of your friends it will end up worthless before they can touch it. Happened to me twice with equity - sounded great, until it wasn't.

likehelpfulfunny

Brilliant clarification!

There are few threads that bring out the McKinsey army as prominently as Tech comp threads lol, this is all gold

likefunnyuplifting

Cash is trash bro

Comparison is the thief of joy, you do you, you’re doing just fine. If truly unhappy where you are and not just playing catchup to others, apply around and see what happens.

Also, go to sleep and relax, it’s Christmas morning mate.

likeuplifting

Yes, there are people in the world who make more money than you do. This will always be the case, always. If you choose not to get over it, you will always be unhappy. Always. 🙃

likeuplifting

Do you also get jealous of actors, sports stars, surgeons?

Being a top notch developer is a very different skill set than consulting.

If you need more help - talk to a pyschologist

like

Agree with you M2. But this will change int the future as more and more smart ppl are joining the SWE world. Demand supply will shift one day

1. Unless they’re quite senior, they’re not really making 400-500k. RSU appreciation is not ex ante comp.
2. Once you make a certain amount, life isn’t about money—not even a little bit. You’re well past that point. Find your purpose and you’ll be much less jealous of their comp.

likefunnyuplifting

Guys let’s get the distinction between RSU and ESPP right - RSUs are given at 0 cost .
E.g you are given 100 shares of Google at 2000 a share current value on the day of granting . That could become 300K with appreciation or 100K with a crash but that’s the risk
ESPPs allow you to BUY shares of a company at
A reduced cost ( differs by company but typically 20-30% lower) . There is an automatic appreciation there usually + additional appreciation if any . The stock CaN crash and you can lose or gain
Lastly - ‘ paper money’ that is not true for public companies -
For start ups yea it’s paper money

TLDR - tech makes millionaires

like

I mean, yea they’re making more money, but also they have to be SWEs… it’s a trade off!

likefunny

Jealous of you SWE’s not having to appease clients AND consultants. In sales and can attest consultants we work with making easy problems look hard. I identified a problem and my customer engineer architected a solution for a prospect. The prospects consultant constantly stood in the way, trying to poke holes without understanding how the software worked. Made themselves look really stupid in front of my customer engineer. I finally figured out the consultant just wanted credit so I created a document laying out how the consultant (aka my team) identified this problem and helped Google build the solution. Consultant quickly got on the same page and we closed the deal.

like

Go drive around in a low income part of town or volunteer at a food bank. Suddenly all our problems go away.

likeupliftingsmart

Just give thanks for what you have and enjoy being wealthier than most of the world's population?

Or delve fully into your work for the next 8 or so years and make partner. Then you'll likely make more.

like

There is already a good understanding of this in the newer classes. If you’ve ever done campus recruiting - the quality of candidates is markedly lower. The best and the brightest choose tech. This market moving has happened in the last five years. MBBs will not see this right away but in a few years the effect will be more pronounced. The non MBBs are already seeing this. I exited to a relatively unknown tech co for the same comp as my Deloitte M&A M3 salary (prior to adjustment). I have barely worked more than 40 hours a week and I sleep soundly (ok not soundly since I have a one year old but I am not doing USI calls at night). Best move ever.

like

BizOps at a enterprise SaaS AI company

like

Okay I see both sides, without disclosing identifying information - I exited to tech and my comp was up to 800K due to stock growth. However, it recently dropped to ~360K due to crappy stock growth.

likefunnyhelpful

BCG1. But the hours are better right? So per hour you get paid more, and now you have WLB to actually focus on health, family and hobbies, so actually living?

like

Wait until the market stops its all time bull run and their TC gets reduced by 50%. Meanwhile yours will continue to grow steadily.

like

Have seen so many people try to dispute that RSU’s aren’t cash.

RSU’s are on W2’s as ordinary taxable income because that’s what they are. Don’t know how to make it any simpler than that.

Even if you are at Amazon, don’t they give actual cash in year 1 (and maybe year 2) to make up for the slow vesting??

like

Well this turned out to be a great Christmas gift

likefunnyhelpful

Jeez what's with all the people on FB claiming RSUs are somehow valued less than cash?

Once they vest they become yours and have a cash value. If you decide to hold instead of sell thats the same thing as sinking a significant portion of your overall salary into one single stock, which is very high risk.

like

Mck5 is half of this thread btw

like

Laugh at the 80k a year I make?

likeuplifting

Yeah, but in a pinch you could save lives. We can call 911 and then google symptoms

Is your total comp 160 or your salary?

like

I’m an L6 non tech at Google and it’s not that hard to get (I have 12 years YOE). L7 yes I agree you have to get a little lucky to catch the right breaks, and be patient in general.

As cliched as it sounds on FB, the answer could be therapy

likehelpful

Do what your friends do and add all of your income to TC. Add 401k, pension, pto, healthcare, bonuses. That’ll get you up to like $250k

funny

That’s totally fair and exactly what I do when talking with potential future employees. I think on this app things can get off the rails quickly but under that context, yes pump those numbers up! 😂

like

Same here OP. It's frustrating as hell. Especially when they talk about their woke problems or how the coffee/food/<insert amenities here> isn't good enough. Very entitled. Even more so that they get paid time & a half for anything over 40 hours when they are on call for go live. Come see how the rest of us live and be grateful. You've never seen the real working world clearly.

funnylike

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