Incorrect, programmers can be bought from India for /10th the price and or course they'll pay Americsn programmers their $70K, that's not big money. An MBA grad starts at $250K, plus bonuses, this is a fact.
Experienced programmers make a lot more than $70K. There are very few software developers with PhD. That is just your nonsense that Phd = better. I have worked for a lot of senior project developers and none had PhDs. One might have had a masters but honestly nobody cared. What matters is experience solving real world problems none of which is learned in college.
And no, it's not the programmers that make the big money as far as coding - it's the PhD physicists and mathematicians who then fell the programmers what models and programs to build and these are called black boxes which do high frequency trading which do in fact are responsive for a huge % of the trading activity and they make lots if money, but the bulk of the money, the big money is still made by traders, economists, heads if hedge finds, etc because a black box can't predict the future I'd see a good buy it simply trades in milliseconds based on a preprogrammed trend or news and it simply beats the human reaction time.
Once again I actually worked on statistical models for risk analysis and nobody on our team had a PhD. None. Models that were used in the pricing of tens of billions of dollars in distress assets. A half dozen computer science professionals (db engineers, developers, project managers) and a few statisticans no PhD.
Then again this is like a chef explaining to a guy who ate a hamburger once how culinary arts works. As for every MBA making $250K starting well that is just silly. Then again how much are you making on unemployment? My guess is less than $250K.
Lol, once again you're clueless. I personally know people I went to school with who got jobs for JPmorgan et al and with only a bachelors they were starting at $80K, no programmer starts that high with a bachelors unless you're at google or MICROSOSFT or a few companies, on wallstreet that's the norm. I know programmers working for Fortune 500 companies with a BS and 10 years experience and they make $70K. Can some make 200K, sure, but many don't. You're quoting the top 10%. Please go to salary.com and I bet anything a programmer doesn't even average $70K.
And then these banks will pay for you to get your MBA, while you're working, right there in New York and the day you graduate they bump you to sr analyst and your base pay goes to $250K. This is an industry fact. And this was more than 10 years ago when this was happening.
And the bonuses are easily over $100K at that point. Real Bankers make 100 times the money of programmers. After 10 years on wallstreet regardless if you're a trader or analyst, if you're making less than $800K total with bonuses that means you're not that good. Many make millions once they get in Sr positions or start their own hedge funds if they're really good and make hundreds of millions.
Banking is big on bonus pay and incentives which programmers are lucky to work for a company that gives them $20k bonus let alone $100K, which on wallstreet is considered newbie money.
I'm speaking from hard experience, I worked 10 years for the 2 biggest biggest banks in the US, and I had access to all internal jobs and their starting pay and I personally graduated with people who moved to New York with a lower GPA than mine and in a few years $250K was considered average.
