I worked in big tech in one of the coastal cities. Most of my coworkers, although great people, were delusional in terms of money. I was getting paid between 200k to 400k during my tenure, and after working there a few years, I was set for life.
Reality check: even in "high cost of living areas", typical salaries are around 50k. Most of my coworkers came from wealthy families and perceived buying condos in Chelsea as middle class activities. I don't think they saw themselves as rich. And to be fair, many probably didn't actually save that much money, because they had such expensive lifestyles.
I agree with that most tech workers are delusional about money. Yet I still disagree with being the set for life, in my area.
Out of curiosity, what are the tax rates and housing prices where you are?
In my area, the maths would work something like this. Let's say $400k income (extremely high for my city). After tax, more like $200k. Rent might be $30k, plus other costs, let's be generous and say $40k total. That comes out around $160k savings per year. Lets say you work there for 5 years (which IMO is a long time at the start of your career), that's $800k. Median house is $1.5M. You could probably buy a substandard apartment and be back to 0 savings.
Is it possible? Absolutely. Is it better than what everyone else is getting? Absolutely. But I don't think it's exactly "set for life" given you've achieved pretty bare minimum...
What I've also found is there's a correlation between people in tech who don't seem to care about money, and having already started from wealth. Oh, how are you saving so much money? Right, you live in your parents' second house... How did you afford that apartment? Oh, your parents paid for half of it... (For added effect, add in a rich partner too.) Etc etc. Strip away generational/systematic wealth and even at the top of the layperson ladder, you're barely getting anywhere.
> Yet I still disagree with being the set for life, in my area
I think this might be the root of the difference in perspective. Very few people can be set for life maintaining a lifestyle only just afforded by their income. You may have to move to a cheaper neighborhood or less costly metroplex, and perhaps not buy a new car as frequently. But you won't have to work a day again
Reality check: even in "high cost of living areas", typical salaries are around 50k. Most of my coworkers came from wealthy families and perceived buying condos in Chelsea as middle class activities. I don't think they saw themselves as rich. And to be fair, many probably didn't actually save that much money, because they had such expensive lifestyles.