I wouldn't begrudge a SWE who makes $400K, especially if they live in California with their outrageous cost of living. Most workers in the US are woefully underpaid. Wage growth has been mostly stagnant since 1975 while productivity and profits trend ever upward.
That document, as with every other claim about stagnant wages in the US since the 1970s, entirely (probably intentionally) fails to account for the massive demographic shift that has occurred since 1975.
The US middle class is not the same, 1975 vs 2022.
Show me the demographics of 1975 for the US middle class and lower middle class. Then show me the same demo for 2022.
Next show me the wealth and income figures for each demographic, 1975 vs 2022.
Hint: the US middle class is no longer entirely white; and the white people that used to dominate the US middle class have moved up. Meanwhile first and second generation Hispanic Americans have moved into the US middle class, coming from largely impoverished backgrounds and third world countries. Does that document account for any of that? Of course not.
You can trivially see this in the Fed's demographic data for wealth and income (white household income and wealth figures are well above the median figure for example; which was not true in 1975, back then they were close to one and the same), and by comparing present demographics vs past demographics.
Hispanics were 4-5% of the population in 1975.
If the white demographic moves up, and formerly poor Hispanics move into and take over the US middle class (which is exactly what's occurring), the document you linked to pretends nothing changed, there was no improvement. There was in fact vast improvement for the actual people in question.
Or just a random senior dev at a FAANG. Can't speak for all of them, but that's definitely not uncommon at Meta/Google. And you are certainly gonna shoot above that number at L6.
Yep, agreed, that's definitely very doable at L5. I just decided to be a bit conservative with my estimate by looking at levels.fyi first, because I expected someone in replies to bring it up as a counterargument.
https://www.epi.org/publication/charting-wage-stagnation/