At a well-managed company that's growing properly, such as Apple was from 1998-2012, this effect is employed in a way that compensates engineers very well via the gains in stock price.
If you're a great engineer, it behooves you to see yourself as an investor in the company you end up choosing to work for.
This means learning about things like the disruptive growth era we're in, how monetary policy affects growth, etc. You should know what an inverted yield curve is, and where to look to keep up with those charts (https://fred.stlouisfed.org/series/T10Y2Y).
It's important to read Clayton Christensen "The Innovator's Dilemma". I also highly recommend reading ARK Invest's research reports. They cost nothing but an email address, and I have found these all to be enormously valuable in my own research on this. If you just want to sit and watch some stuff on YouTube that can help, give "Chicken Genius Singapore", "Dave Lee on Investing", and "Solving the Money Problem" a whirl.
Great management is incredibly rare. But it's on you to learn how to identify it. If you want to be paid the most, you have to know more than just the field you specialize in! There is little value in putting your head in the sand.
It's easy to say that for one person, but these are some of the largest tech companies around, and you're talking about 10s of thousands of engineers. Where are they all supposed to go? FAANG won't hire most of them, and it's not because they're incompetent.
I'm 39, and I didn't major in CS. FAANG wouldn't touch me with a 10-foot pole.
What to do? Take your skills and put them into your own startup. I rolled with the times, hedged my bets and invested my life savings, as documented here:
(The only thing I'd amend my 4-month old comments with, is, chill out! The daily ups and downs are not important compared to the Fed Put. And, long-term, watch out for the ultimate decline of the dollar, the shift from fiat to bitcoin. Palihapitiya has sage advice in keeping at least 1% of your net worth in bitcoin.)
Investing well is a mindset, and the essential thing to do is focus on your methodology, and your connection to the world around you. There is no substitute for critical, rational, non-cynical thinking.
Thanks for "Chicken Genius Singapore", "Dave Lee on Investing", and "Solving the Money Problem" -- these look great! Do you have any other recommendations?
> such as Apple was from 1998-2012, this effect is employed in a way that compensates engineers very well via the gains in stock price.
As nice as equity compensation plans are, they definitely don't make up for the gains.
The divisional VP gets the lions share of the gains in stock for properly managing/motivating the engineering talent (the engineer is lucky to get a raise above inflation).
Are organizations that are prone to dramatic underestimations and overworking people also prone to keeping slackers or incompetent developers on staff? But, also, is there a scenario in which the work takes longer _because_ of the incompetence? Meaning the competent developers are working reasonable hours?
> overworking genius.
I'd again wager a guess that most of those struggling with overworking at companies are not geniuses, as a legitimate genius might be more inclined to just find a new job
If you're a great engineer, it behooves you to see yourself as an investor in the company you end up choosing to work for.
This means learning about things like the disruptive growth era we're in, how monetary policy affects growth, etc. You should know what an inverted yield curve is, and where to look to keep up with those charts (https://fred.stlouisfed.org/series/T10Y2Y).
It's important to read Clayton Christensen "The Innovator's Dilemma". I also highly recommend reading ARK Invest's research reports. They cost nothing but an email address, and I have found these all to be enormously valuable in my own research on this. If you just want to sit and watch some stuff on YouTube that can help, give "Chicken Genius Singapore", "Dave Lee on Investing", and "Solving the Money Problem" a whirl.
Great management is incredibly rare. But it's on you to learn how to identify it. If you want to be paid the most, you have to know more than just the field you specialize in! There is little value in putting your head in the sand.