When someone in the US says they make $100,000 per year, that is usually exclusive of any tax paid by the company. It is also exclusive of other benefits paid, with health insurance commonly being $10-20k paid by the company, if provided. The employee is responsible for their own income tax.
There’s confusion because in the gig/entrepreneur/consultant world, people will say they “make” $200,000 in business income. But then they bear taxes and benefits out of that amount. So you may “make” more, but do worse than someone who is an employee of a bigger company. That is why it takes a substantial increase in income in the US to justify leaving a stable employer.
When you're competing on the output of developers and the difference between first and second is Facebook and MySpace, get the best you can afford and pay them. You're spending VC money and need the best output as fast as you can get it. Good enough will kill you.
As a young South African, this reality is something of a let down. In the US, it's like you have a country with (if you normalise to mean) 30 cities the size of JHB economically. The access to cutting edge tech jobs is just incomparable. The upside is that if you do break through, your relative success is greater. In the US, someone else is already trying your idea.
But, to not sound like a completely grumpy cynic, I think they are intelligent and efficient; moreover, these days people have multiple jobs or facets and the critism is more towards the idea of an actuary than the individuals who are actuaries. I guess we are all in competition and actuaries and CAs are maybe just more honest about competing for one's income.
I am actually interested in actuarial research, FWIW.
> Average pay for manufacturing engineers is about $78k
This is more on par with pay for (top) programmers or engineers that I know of. In South Africa, actuaries get paid much more than programmers. From what I have seen on HN, US based programmers (in top-ish companies) get paid actuarial salaries. As a mathematician, I have a lot to say about actuaries, but alas, that is for another day.
Maybe someone more knowledgeable can clarify this. Median pay at tech companies is sometimes > $100k annually. In my view as a not-a-US-citizen, that is a lot of money.