21 sats \ 5 replies \ @k00b 28 Sep 2023 \ parent \ on: Why are most engineers not rich? tech
I know you know you're not saying otherwise but most founders don't end up rich. Most fail. I'm practically living on a wire when most of my engineering peers who saved aggressively are fiat millionaires who have normal jobs and live very leisurely lives. That isn't to say I haven't saved something. It just isn't money, it's intangibles - skills, experience, and mindset stuff.
It is if you start as an early employee at a company that blows up. The richest people I know in tech got rich this way. QA eng at the last company I worked at was employee #1 there. They owned 2% when it exited for 100m ... but being an early employee comes with tradeoffs too.
I know you know you're not saying otherwise but most founders don't end up rich. Most fail.
You're right, most don't. For every founder that does succeed, there's a ton who don't. Companies fail all the time. We just see the successes more often.
I'm practically living on a wire when most of my engineering peers who saved aggressively are fiat millionaires who have normal jobs and live very leisurely lives. That isn't to say I haven't saved something. It just isn't money, it's intangibles - skills, experience, and mindset stuff.
Agreed, there's different targets and goals that folks can have. It comes down to how you measure your wealth/success/etc.
Simply working for a company as an engineer isn’t enough.It is if you start as an early employee at a company that blows up. The richest people I know in tech got rich this way. QA eng at the last company I worked at was employee #1 there. They owned 2% when it exited for 100m ... but being an early employee comes with tradeoffs too.
True, I guess I meant joining an existing mid- to large-sized company as an engineer isn't going to get you any significant percentage of equity, so you're going to have to "get rich" via salary, basically.
I think the ultimate takeaway is risk -> reward, sometimes. Founders, early employees, etc. all take risks. Sometimes they pay off, other times they don't.
ETA: can't wait for quote reply to land... LOL
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risk -> reward
For sure. Greater risk, greater reward potential, but also greater loss potential.
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Also lmk if you're ever underindexed on risk lol
We could use another full time engineer and you've been doing excellent work.
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Wow thank you, that is something to really consider! Let me mull it over and get back to you!
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