I think its hard to break into in some respects, compared to other fields (you need some certifications iirc in addition to a degree) but my limited, anecdotal exposure suggests its quite interesting and lucrative.
That said, my sample size is small, and on the other end of the spectrum, I know a few folks who maintain complex CNC equipment and develop software for it (using a language I don't recongize, I think its proprietary) and while they make good money, its not better than you can make as a senior engineer at a reputable place as a web developer, for example.
You would make more in webdev or ML though.
The one outlier example I gave is specifically tailored for medical equipment.
But the pay was nowhere near that of a software dev job in SV.
Anyway, in automotive manufacturing right now frequently the industrial automation firm is told they will be paid net 240. This is insanity. It leads to unnecessarily long projects as the firms have to figure out how to cash flow enormous expenses.
In the meantime, inexperienced competitors regularly fixed bid quote something that cannot be safely and timely built for the quoted budget, ignoring profit. They win the project and they're worn down to a nub and either go under or deliver to avoid being sued into oblivion, so it's a horrific race to the bottom.
The latter behaviour I witness regularly in the software consultancy industry and it's a bothersome thing.
I know Google was handing out $385k total compensation offers ($200k salary, $150k stock, $35k annual bonus) in 2020 to senior software engineers, and Google's 401k matching is 50%.
First is Google is an outlier, even among Silicon Valley. So is Meta. They both are well known for very high total compensation. I also specifically didn't say FAANG for this reason. There's other high compensation places that I would bucket in as top 5% that aren't in the acronym (Microsoft comes to mind) which very good TC packages.
Second is I removed stock because stock is hugely outsized in value for tech companies, and most of these jobs aren't going to have RSUs. If you compare salary to salary however, its a better metric. I know an industrial HVAC specialist that pulls in north of 300K in just salary, and has great retirement benefits. In fact, better than you might see even at say, Apple on both fronts, for most people, and importantly, they're young (7 years my junior).
One thing alot of the highest paying trade jobs have in common though, is travel travel travel. The folks who work only local jobs do well enough, but not near the gangbuster rates the travel folks are pulling in.
Source: I have friends and extended family who are all trades people. Plumbers, carpenters, masons etc. as well as a few who work in other engineering disciplines (like industrial engineering & robotics). Blessed with a large enough extended family that I think I get a decent idea of whats out there
He made 300+, and busted his ass to get it. Most of his guys were in the 60-85k range.
HVAC at 300k is an absolute outlier, and there are going to be some serious tradeoffs in terms of how brutal that's going to be on your body. Gonna be some long, hot days.
RSUs are the companies you're talking about are effectively cash, and they make up a significant portion of the compensation for the "elite SV" companies. So yes, if you exclude ~40% of the compensation for the "elite SV" companies, then you friend is probably making more.
_This_. A lot of software developers think they are the only high earners out there. Skilled tradesmen are making a killing in europe as well. And unlike software engineers, the path to starting an actual business is much shorter and the growth potential much higher.
Scaling software to the same level of revenue as a trade business is as easy if not easier. For one you don’t need that many employees
There are massive problems that come with "scale" - problems most people don't want. The VC model is all about the exit, whereas, again, 90-something-% of businesses, trades included, are focused on long-term sustainability, not on the "exit".
Sure, the VC space us very visible, very "loud", gets a lot of press, and so on. And of course 100% of non-vc owners don't get to be billionaires, but to VC world is a tiny sliver of the software world.
Even living outside of SV I don’t see a lot of in between firms.
I'm in a space that doesn't remotely interest VCs, it's not a regulated industry, and we're not a consulting company. Actually we're in 3 such spaces.
I also teach other (working) developers and while some are in health care the vast majority are unregulated.
But to be fair, you've likely never heard of us, or our ilk. We do the boring office software that underpins every boring industry. We're not self-driving cars or exoskeletons, we're data in, data processing, data out.
Our market isn't sexy enough, or wide enough for VCs, we don't need millions of $ anyway, so we've never bothered to ask for it. We do boring things like make a profit, and fund growth out of cash-flow. We hire slowly, and we don't do layoffs.
We have lots of competitors just like us.
There are many boutique SaaS firms - but if you only have a few customers, the business looks more like an outsourced internal team then an independent concern.
happy to be proven wrong on this point, would give me some ideas for my career :)
He heads out to the sites/jobs he has that day to see that the teams know what to do, then heads to the golf course.
Sometime in the late afternoon he makes the rounds again to see how the jobs have progressed that day. Does some book-keeping in the evening.
I envy him. I would be surprised if he completed college (although I know his kids all have now).
Unless the robots are either going to become good at swinging hammers or designing, maintaining, and install themselves, I think these are some of the safest jobs you can have, if there is such a thing
This sounds like a business is just something that happens to fall on your lap while you're fixing a pipe rather than something that you build with your blood sweat and tears. Most tradespeople make nowhere close to 300k. Their success is credited to their hard work, not their happening to choose the trades.
One is being the trades is rewarding, yes not all bring in 300K+, but I don't know a single trades person, many often my junior, who don't bring in a good income pretty comparable to software engineers at non FAANG companies make (typically 150K+) and I don't think any of them are carrying high debt student loans (many states even pay for trade education outright) and their benefits can't be beat, esp. if they're union.
The second is that there are trade businesses that do earn, esp. right now in the industrial sector, but they all have a singular thing in common: Travel Travel Travel. thats the name of the game. They're gone alot. For instance, my cousin is an industrial electrician, and works on windmills. He travels all over the midwest and Texas to do the work, is rewarded quite handsomely for the privilege, but is gone over half the year. Has no wife or kids currently, so there is that, but its taxing. Other trades folks I know have businesses and do pull in alot, but the "grind" can be very real at times, but I've been told that its rewarding, because its yours at the end of the day
Third is in a specialized sliver of robotics / industrial systems, you can make a fortune, but its not so outsized across the board. Medical systems are a big one, robotics are being really big in surgeries, and there's alot of money to be made there
The US has outsourced so much, this cash dump is just going to head straight into the pockets of cronies who will then say 2-5 years they need more.
Maybe he was right. I'm in my early 30s now, and I don't regret becoming a software engineer, but all the highly skilled tradesmen I've met in the last 5 years make at least what I do, often more, and have the benefit of actually owning their own businesses or real, meaningful slices of other ones.
I'll boldly admit I don't think I would like over physical labor and I do wonder about the toll of it long term, but they make a killing, especially the ones willing to travel all over the US.
Granted, the highest earner I know has both a degree in CS and Industrial Engineering, and goes all over the place working with industrial robotics and makes piles of money doing it. More than elite SV companies in the last 3 years, IIRC, if you discount the stock based compensation package (simply salary to salary comparisons) its north of 300K.
And arguably better retirement benefits, I think 12% goes to the 401K and they get bonuses every quarter right now. Well invested I bet he'd come out ahead. Can't for the life of me remember the name of the company though.
EDIT: forgot to mention the folks making tons of money on the DoD now starting to require things made in the USA and sourced raw materials from either inside the US or from friendly approved countries from the last few years either, and I don't think that's going away any time soon. They've in the last 2-3 years started paying lots and lots of money to get suppliers that are US based and source their raw material from friendly nations only, and they pay alot of money to make it worth while.