Apple and Google’s wage-fixing involved dozens more companies, over 1M employees
People decry the greed of financial sector employees, but one of the best things about moving there from silicon valley was that people had a pretty good idea of their worth as a proportion of the firm's balance sheet.I really appreciated that compensation expenses on the balance sheet of a typical investment bank are fixed at 37-39% throughout the year, with the delta between salary and allotment being paid out as bonuses.  It significantly improved my income.I would gladly work at a tech company with a similar incentive structure, and I think more engineers should start asking for it.  Financiers get paid a lot in the form of bonuses, but the correct answer is not to daisy cut by hollowing out their income.  We should be asking why tech employees don't also make the same kind of revenue.When Google and Apple have profits per employee of over $1M but the average engineer salary is only slightly higher than $100K according to glass door while both these companies are building stockpiles of cash holdings, something is obviously broken.I suspect part of it is the 'doing it for passion' mantra, but another part of it was Apple HR's now obviously crooked refrain of 'we pay the prevailing market wage'.  Just because I'm doing something I'm passionate about doesn't mean I like getting ripped off.