I don’t understand this.
Yes, for some engineers, in some roles, in some locations it makes sense - but that’s a tiny part of the overall market.
I’m 40, live in a rural area in a Southern US state, and have right at twenty years’ experience. I’ve worked a big companies, have been the first tech hire at a startup, and have specialized somewhat in healthtech. I feel like I’m the best I’ve ever been; I have room to grow but I know exactly where that room is and how to make it happen. I’ve done everything from knocking out new tickets every day from a queue to architecting large distributed systems. I love my current job that consists mostly of two things: figuring out what the product side of the org actually wants/needs and making sure it gets done, and supporting all of the other engineers with internal tooling and support.
I make $170k base.
There is equity to consider there as well, but equity in an early-stage startup that doesn’t yet have a firm exit strategy. That’s not compensation - that’s a lottery ticket.
You can get junior engineers in my area for $60-70k, and mid-career around $120k.
I’m at the point where I believe I could _justify_ a salary of $400k… just not in my current role. Not in any engineering role that consists primarily of actual engineering work. That’s the kind of money I’d expect if I were looking at an engineering director or CTO position. I’m very comfortable at my current rate; moving “up” into those roles would require significantly more of my time and energy. My kids are teenagers, and I want to be able not only to spend time with them, but to actually leave work at work sometimes and focus on supporting them. I don’t plan to target those roles for another ~7-10 years.
And you're lecturing us that it's preposterous.
I guess you don't understand what things cost and the needs of real people who aren't billionaires.
It behooves IC7-9 to instead work on side hustles that can turn into profitable businesses, leveraging their employment pedigree and potential early adopters in industry, because working for a corporation is risky and plateaus.