Comment by deathanatos
3 years ago
> Many software engineers are in the global 1% richest.
I mean, some are, yes, but … I'm not, and I know many SWEs who aren't.
> According to the 2018 Global Wealth Report from Credit Suisse Research Institute, you need a net worth of $871,320
(https://www.cnbc.com/2018/11/01/how-much-money-you-need-to-b...)
I miss that cutoff. But if you narrow to my country, the requirement for being in the top 1% jumps to $11M.
Most people don't get into the top 1% net worth by receiving a salary. To get there, you probably have to invest over a long time horizon (possibly more than a generation) while keeping spending to a minimum, inherit the wealth outright, or start a successful company.
Even successful lawyers need to be senior partners to achieve that kind of wealth ($11M), and don't forget that for each such lawyer, there may be many people who end up as some clerk or generic legal representative in some organization, who may have salaries much closer to a SWE.
Yes, I said global quite intentionally.