I graduated with 2 bachelors degrees and a masters degree with no debt through scholarships and grants. I have saved nothing for my children’s education. If they want to attend college, it is on them to pay their way just as it was for me. I’ve told them that I will help a bit during their first year. My company matches my retirement savings up to 5%. I save nothing else for retirement. I should have millions of dollars in my retirement fund by the time I retire (I already have over a million). That plus social security should take take care of my retirement. I have a very comfortable job. I live about a 15 minute leisurely bike ride from campus. I work 20-30 hours a week. My company doesn’t track my hours and as long as I get me assignments done everyone is happy. I can take up to 6 weeks of vacation a year plus 10 more fixed holidays that everyone gets. My health benefits are frankly amazing and cheap. On top of all of that I receive a very healthy six figure salary. There are many hundreds of developers at my company that are similarly blessed. My point is that it is possible to receive a very good salary while still receiving many of the benefits you claim.
> If they want to attend college, it is on them to pay their way just as it was for me.
You seem to be completely unaware of how wildly the cost of education has increased even over just the past decade, especially for 4-year institutions.
It depends on the university. I just checked and the university I attended is only about $750 more expensive per semester now than it was when I attended 2 decades ago. Not all universities jacked up their tuition.
400K is the folks doing things like med school. I doubt the average is anywhere near that. People getting loans for more than just tuition can easily hit 100K, though. IIRC the university I went to, which is a state institution, lists the average cost at about $28K a year including room, board, tuition, books, etc. So if someone wants to pay for the whole thing on loans and not work any kind of part time job, they're going to end up with a mountain of debt.
> I graduated with 2 bachelors degrees and a masters degree with no debt through scholarships and grants. I have saved nothing for my children’s education. If they want to attend college, it is on them to pay their way just as it was for me. I’ve told them that I will help a bit during their first year.
I just want to point out how incredibly, incredibly rare that is for anyone to have that experience in the US today, where according to you:
1. You were able to graduate debt free, and since you say you had no debt "through scholarships and grants", I'm taking that to mean your parents didn't pay for your college. While that is certainly possible (e.g. some colleges offer free rides for very top students), it is VERY rare.
2. You intend to save nothing for your children's education. That is not only exceedingly rare, pretty much all financial aid packages expect/require a certain amount of parental contributions. You better hope your kids get lots of scholarships and grants, otherwise they won't be going to college.
Personally, I went to a top US university. I had some grants and scholarships but my parents still contributed a good part to my first 2 years, and I graduated with considerable but manageable debt. I've worked in software jobs over the past 2 decades, including 1 company where my stock options were worth a considerable amount, so I've saved a lot. I work considerably more than 40 hours a week, so honestly I'm quite envious of your "20-30 hours a week" story - I don't know any job where you can work that little and still get paid that well. I see a very large portion of my salary every year go to healthcare and retirement, and as I am childless I don't have to save for my kids education.
I mean, I'm doing quite well, and I still have anxiety about all the things I need to save for. I can't imagine making a more median-level salary, with today's cost of education, and with kids, and not being much more stressed at the prospect of having to handle everything financially.
Yea I am sorry but earning millions for 20 hours of work a week isn't normal in any kind of job I've seen. So count your blessings and luck. Normal this ain't.
Agreed - a lot of the parts of his story I thought "OK, that sounds extremely rare, but possible", but the working "20-30 hours a week" bit? Where the hell is that? Do people at FAANGs honestly work 4-6 hours a day 5 days a week?
I don't work at a FAANG. Not even close. I've been working remotely for most of the last year (just like everyone else), so I do about 4-5 hours of work in the morning and then spend the rest of the day remodeling the house. But even when I worked at the office, I would roll in around 10am. I'd go work out at one of the campus fitness facilities from 1-3 (15 minutes to walk there, 5 to change, 1 hour to work out, 10 minutes in the sauna, 10 minutes to shower and change, 15 minute walk back), and then head home at 5. And I always get exceptional year end reviews because I always get my work done in a timely manner.
To the entire population? No. To developers in Europe? I would say yes. If we can have similar benefits to what they have, they can have similar pay to what we have.
Well you’re situation sounds a bit extreme, and at the extremes there are also people making 6 figures in Europe, especially in the UK and maybe some central/north countries.
No? How could you possibly get that from what I said? Quite the opposite. I'm saying that they (developers in Europe) should be able to be paid the same as developers in the USA.
At my company it is 100%. And we are not a FAANG company. I have a sister in law that works as a developer in another non-FAANG company that makes about $100k more than me. I don’t think it is as rare as you think for developers to have good benefits and high salaries.
My point is that if I in the USA can have similar benefits as developers in Europe (based on OP's comment) then they should be able to be paid the same as developers in the USA.
OP seemed to be saying that because of all the benefits it was okay they were paid so poorly. But we can have similar benefits here, so they can have similar pay there.
