> Also “senior” engineers (>5 years of experience) at these companies make a lot more than 200k a year.
No they don't, look up the numbers. Average salary on most websites is around 180k. Principal engineers start making north of 300k (at FAANG, which is already a subset of a subset) but it's very difficult to snag one of those.
I like the FIRE movement, but ironically, I think it's pretty analogous to doing your own startup. Obviously, it's less risk (but also less upside).
1) Average comp for a senior (not principal) engineer at FAANG is 350-400k, not 200k.
2) It's much easier to get a job at FAANG and get promoted to senior (or get a job elsewhere and hop to FAANG later) than it is to start a comparably successful startup. Google alone employs 30k+ engineers, most of them in the US, which means they employee ~1% of the software engineers in the country. It wouldn't be unreasonable to say that 8-10% of all SWEs in the US work for a company where standard career progression will get them to that level of comp in 10 years or less.
3) Starting and growing a startup to the point where it can provide an exit event that translates to financial independence (in a comparable time frame) is much harder than getting a job at one of those tech companies, and much less likely to succeed.
4) You don't need to earn 350k/yr to become financially independent much earlier than the typical retirement age, even if you live in the Bay and suffer with the rent. You need to save 25x your future annual outlay. This is trivially achievable by age 50 with most work/life/family configurations that include at least one software engineer (single earners, 2-income couples, 1-income couples w/1-stay-at-home, etc) earning half that (i.e. your 180k), if you don't insist on retiring as a property owner in the single most expensive city in the US. If you are in FAANG/comparable, getting there by 40 is a no-brainer if you aren't really awful at managing your money. A couple working at FAANG can easily manage by 35. This isn't "eat rice and beans, then retire in a tiny shack in the middle of nowhere" independence, either, this is "hit 5m+ net worth". 5m is "fuck you" money by any reasonable metric.
> No they don't, look up the numbers. Average salary on most websites is around 180k. Principal engineers start making north of 300k (at FAANG, which is already a subset of a subset) but it's very difficult to snag one of those.
I think you're out of touch with modern TC. There are many engineers at FAANG pulling past 300k/yr - many going past 400k/yr. One management track + one senior engineer can clear $1mil/yr. I know plenty of people in the valley who do this reliably... https://www.levels.fyi/2020/ - just check out what a senior engineer can make...
No they don't, look up the numbers. Average salary on most websites is around 180k. Principal engineers start making north of 300k (at FAANG, which is already a subset of a subset) but it's very difficult to snag one of those.
I like the FIRE movement, but ironically, I think it's pretty analogous to doing your own startup. Obviously, it's less risk (but also less upside).