Wage-fixing is illegal under Federal law, but that is exactly what the US gov’t and the Federal Reserve bankers are doing.
Total PR piece to cover up wage supression.
“Software engineers straight out of college often make six-figure salaries, not counting equity compensation. Depending on seniority, some coders make millions of dollars per year. But where on that spectrum any given engineer lands often depends on a single number — what’s often called a “level.”.
We can assure you there are no software engineers making millions of dollars per year. This article is a PR piece to cover up corporate America’s abuse of the H-1B visa system which has driven engineer wages down to half of 1997 levels.
Many entry level engineers make $70K.
The goal of the article is to convince the public that wages are not being manipulated, and that every engineer right out of college makes $150K.
Nothing could be further from the truth.
Silicon Valley is addicted to cheap labor. The mass abuse of the H-1B visa system has flooded the US tech field with cheap foreign workers.
The two grads mentioned in the article are almost certainly not making $150K right out of school.
The next lie in the article:
“In this new age where churn rates are very high, people are hopping around much more than they used to be,” Musa said. “It’s useful to know about levels if you’re going to Facebook to Microsoft to Amazon to Google, you want to know where you’re coming in and what your level is.”
Except that’s not happening either because H-1B was designed to keep employees captive so they can’t hop jobs. The very reason Silicon Valley was flooded with foreign workers in 1998 and 2000 was precisely because they were cheaper, and companies could threaten to deport them if they tried to change jobs.
We can assure you foreign tech workers are not making $150K/year.
Even a scientist at MIT admitted such:
Don’t believe the media lies, folks.