Dismiss Notice
Join Physics Forums Today!
The friendliest, high quality science and math community on the planet! Everyone who loves science is here!

Twitter Worker Making $160K Struggling to Survive?

  1. Mar 1, 2017 #1
    https://www.yahoo.com/finance/news/twitter-employee-making-160-000-193700556.html

    And I was thinking I'd be happy with $75K where I live. lol

     
  2. jcsd
  3. Mar 1, 2017 #2

    Ryan_m_b

    User Avatar

    Staff: Mentor

    This has got to be a joke, a sick one at that. I live in one of the most expensive cities in the world on eight times less than that. I can't imagine what kind of wasteful lifestyle one would have to lead to have to borrow money despite that kind of salary.
     
  4. Mar 1, 2017 #3
    It's the old saying, it's not how much you make, it's how much you spend. A guy making $50k who is able to save $500 a month is better off than a man making $100k and only able to save $100 a month.
     
  5. Mar 1, 2017 #4

    Ryan_m_b

    User Avatar

    Staff: Mentor

    I just don't understand how you can spend so much as to not be exceedingly comfortable on that wage. I goggled a california tax calculator and on $160k he should be taking home $100k of that. In the article his rent is stated as being $3,000pcm for his house (that I can believe if property prices in san francisco are similar to London) but even if his bills, food and transport are also $3,000 that still works out to $28k a year for leisure/savings.
     
  6. Mar 1, 2017 #5
    The bay area is like the new wall street. Money flows out of pockets.
     
  7. Mar 1, 2017 #6

    Nidum

    User Avatar
    Science Advisor
    Gold Member

    According to Mr.Micawber :

    Annual income twenty pounds, annual expenditure nineteen pounds nineteen shillings and six , result happiness. Annual income twenty pounds, annual expenditure twenty pounds ought and six , result misery .

    Though he also said when in the depths of poverty and weighed down with debt :

    Something will turn up !
     
  8. Mar 1, 2017 #7

    Ryan_m_b

    User Avatar

    Staff: Mentor

    To what though? As someone who does have to constantly worry about money and has had to borrow for rent in cases of unexpected costly events I don't grok how anyone could struggle with that income. I get that you could spend a lot on expensive stuff...but to me it's not struggling if the problem could be solved by cutting down on leisure and luxuries. In fact I find the notion insulting. "Struggling" is when you have to start cutting down on food or heating to make ends meet.
     
  9. Mar 1, 2017 #8
    Without knowing more information I think struggling is the wrong word used in the article.
     
  10. Mar 1, 2017 #9
    This isn't the first story I've seen like this, but is probably the first where the salary seemed high enough to live well.

    I've seen stories of people making around 90K and claiming they were struggling to get by there.

    But $160K? It sounds kind of crazy. lol. Maybe he's got massive student loan debt. Or, if he's supporting a wife and two children, then that's $40K/person. Still seems like it should be enough, but what do I know.
     
  11. Mar 1, 2017 #10

    Ryan_m_b

    User Avatar

    Staff: Mentor

    It certainly seems like the article should have had more information. Even if he is supporting his family with what we know he has $64k after tax and rent. That's more than the median US household income.
     
  12. Mar 1, 2017 #11

    mheslep

    User Avatar
    Gold Member

    Car $800/mo. No car works in some cities, NY, London, but not in California. Clothes, furniture from scratch for many just out of college. If he wants to eventually buy instead of suffering that rent, he needs to be saving $10K/year minimum just for a modest Palo Alto house at $1M. Retirement savings, more.
     
  13. Mar 1, 2017 #12

    Ryan_m_b

    User Avatar

    Staff: Mentor

    Running a car was included in my speculation that his other costs in bills, food etc are equal to his rent. Savings I can see sure, but you're not struggling if you're saving thousands a year.
     
  14. Mar 1, 2017 #13

    StatGuy2000

    User Avatar
    Education Advisor

    It may not be so hard to believe if the Twitter employee has massive student debt or other forms of debt. Keep in mind that tuition rates for an in-state resident (i.e. those who are permanent residents of a given US state) in a public (i.e. federally and state funded) university can go from $5000-10000 per year, and more than twice to 3 times as much for out-of-state residents. And this would not include room and board and textbooks, so I could imagine a student taking on debt of about $100000 to $200000 in student debt by the time said student graduates. Given that the individual in question is in his 40s, it's possible that he may be in the last stretches of fully paying off that debt.

    Combine that with the high cost of housing ($3000 is quite high to me, but not surprising for San Francisco), car costs, health care costs, insurance, cost of groceries to raise a family, etc. -- I could easily imagine someone earning 6 figures just getting by.
     
  15. Mar 1, 2017 #14

    Evo

    User Avatar

    Staff: Mentor

    Car $800 a month? Even including insurance for a car for San Francisco (it's hilly) should not come close to that unless he's had so many wrecks/tickets he's almost uninsurable. Something's out of whack.
     
  16. Mar 1, 2017 #15

    Bandersnatch

    User Avatar
    Science Advisor
    Gold Member

    Struggling to survive my arse. Having to shop for groceries with a calculator because you can't get over budget is poor. Being financially drained by the high-standard lifestyle one thought their salary would afford them is being, at best, pecuniarily challenged.
    The article makes me want to show these poor, poor tech workers a finger together with some heartfelt advice on better word choice.
     
  17. Mar 1, 2017 #16
    Here is some context. According to USA Today, "the median household income in 2014 was $53,719, which means that half of American households make less than this amount, and half make more." That is total income. The average Adjusted Gross Income in 2014 varied from $34,940 for a single tax filer to $117,795 for married filing jointly.

    Another USA Today stat: "Geographic location plays a big role in household income. To mention the two extremes, the median household income in Maryland is $70,004, nearly double that of Mississippi's $36,919."

    You can read the whole article here.

    http://www.usatoday.com/story/money...4/average-american-household-income/93002252/

    Now for the main point. The well-paid Twitter employees are not the only ones complaining. There is a similar recent article about Facebook employees. My response is that these complaining employees should stop whining and consider the plight of the typical low-paid worker who can barely make rent payments in a bad part of town, who drives an unreliable old car, who can't afford adequate medical and dental care, and who can only dream about ever having the standard of living of one of these spoiled tech workers.

    We could also mention the unemployed, the elderly, the children in foster care, the disabled, and even those foreign workers who assemble the flashy new cellphones the Silicon Valley types use to call each other and complain about their cost of living.

    These tech workers might do better to think ahead, and cut their cost of living any way they can. Their highly paid jobs are far from secure. How are they going to handle being poor, when they can't even handle being well-off?
     
  18. Mar 1, 2017 #17
    Of course there is a difference between income and net worth. One important figure is that in 2007 the top 1% had 34.6% of the wealth, while the bottom 40% had 0.2% of the wealth. Many of the bottom 20% actually have negative net worth. (Edward N. Wolff, Levy Economics Institute of Bard College, March 2010).

    It's no surprise that, for the first time in recent US history, a self-proclaimed Socialist gained so many votes. I think Sanders is only the beginning.
     
  19. Mar 1, 2017 #18

    jtbell

    User Avatar

    Staff: Mentor

    If he lives and works in SF, he probably doesn't need a car to get to work, or for most activities inside the city in fact. Maybe for chauffeuring the kids if they're too young to get around on their own. But they have Uber and Lyft.

    Food is probably expensive by the standards of "flyover country," though, even if it comes from grocery stores and not restaurants or Starbucks.

    If the wife works, and the kids are young, they need daycare (expensive). But then her salary should be able to cover that, at least, assuming she has a decent job, not as a barista or something like that.
     
  20. Mar 2, 2017 #19

    Borg

    User Avatar
    Science Advisor
    Gold Member

    Exactly. The real story is most likely about how the person isn't living within their means.
     
  21. Mar 2, 2017 #20

    russ_watters

    User Avatar

    Staff: Mentor

    Yeah, I'm not buying it either; he's probably "struggling" to live a wealthy lifestyle.
     
Know someone interested in this topic? Share this thread via Reddit, Google+, Twitter, or Facebook

Have something to add?
Draft saved Draft deleted



Similar Discussions: Twitter Worker Making $160K Struggling to Survive?
  1. Surviving cannibals (Replies: 24)

  2. The Social Worker (Replies: 6)

  3. Do you use Twitter? (Replies: 13)

Loading...