Coders who trade: Wall Street designs its staff for the future

Re:Coders who trade: Wall Street designs its staff for the f... by marvin on Sunday November 19, 2017 @05:30AM (#15733256)

This isn't the whole explanation, unfortunately (I really want to understand this relationship). A beer costs more in Norway, a good loaf of bread would be $6 (although you could probably get a cheap one for $2-3), a studio apartment in Oslo would be $300k-ish.

So the biggest price difference is in the rents, or the housing prices. I would probably increase my savings by a factor of five or more if I had a salary like the ones cited in this thread :)

Obviously it's supply and demand, I just wonder which side of the equation is skewed and why.

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Re:Coders who trade: Wall Street designs its staff for the f... by vasilipupkin on Sunday November 19, 2017 @07:42AM (#15733646)

In Norway you get everything for free, education, healthcare, retirement, etc. I'm sure that's part of the difference

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Re:Coders who trade: Wall Street designs its staff for the f... by marvin on Sunday November 19, 2017 @11:05AM (#15734406)

That isn't it; all the things you mentioned are paid through very heavy taxation, and all numbers we've been discussing are gross salary.

You could probably attribute a 14% difference through the "employer tax" which the US doesn't have (which is taken out of your paycheck before the gross salary number is cited), and arguably another 4% due to mandatory retirement savings. But it doesn't make up for it when the difference is 50%-75%.

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Re:Coders who trade: Wall Street designs its staff for the f... by vasilipupkin on Sunday November 19, 2017 @11:30AM (#15734502)

Yeah, but when you retire in Norway, you will be taken care of. Not so in the US, so you need to save for that from that extra 50%.

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