On its 10th anniversary, Signal’s president wants to remind you that the world’s most secure communications platform is a nonprofit. It’s free. It doesn’t track you or serve you ads. It pays its engineers very well. And it’s a go-to app for hundreds of millions of people.
So, I googled their tax filing out of curiosity. It’s true that Meredith pays herself much less than her engineers, which is great. What I was rather shocked to see is that they pay their software developers enormous salaries. They’re listing developers making over $400,000 per year, with their VP making over $660,000 per year. Now, I’m all for the value-creators making more money than the CEO. I just had no idea that software developers make that kind of coin. I was thinking of donating to Signal, but I’m kind of weirded out by those astronomical salaries.
That’s inline with Silicon valley salaries. Basic houses cost 2mil there, so it’s not completely outrageous.
As an example, openai pays all its engineers 300k flat+500k/yr in some stock based asset. Another example is Netflix, who are notoriously a very fickle employer, but salaries start in the 400k range and go up from there.
Yes, the article makes the point that Signal needs to compete for talent with the rest of Silicon Valley. I get that. And we’ve all heard about the nearly unfathomable amounts of money that tech companies throw around. When you break it down to individual salaries, though, and see that even normal people in normal jobs are making a million dollars a year between salary and stock… well, I think it really exposes the spectacular wealth inequality that we have allowed to fester. I mean, sure, shelter costs may be high in Silicon Valley, but the cost of other goods remain about the same. A $50,000 truck that an average person in Nebraska might have to save for years to afford is barely a rounding error for folks making a million a year. I’m no economist, but it does seem like there are consequences for this kind of ever-growing wealth inequality.
It is also absurd on its face for a multi-millionaire developer to place a “Donate Now” button in an app and talk about being a non-profit to tug at the heart strings of people who make one-tenth of what the developers are making. It’s feels like Scrooge asking Tiny Tim for a donation.
Anyway, I don’t blame the developers for this absurd situation, and I do appreciate Signal, and Meredith is clearly a cool person who is fighting the good fight against big tech surveillance. But every once in a while an article like this reminds me how deeply fucked up the world is. It seems we are approaching pre-French Revolution levels of economic disparity, and maybe it helps explain why so many working class people are pissed off.
Not all SW devs make that kind of money. I don’t live in Silicon Valley, and I make significantly less than that amount. I could probably get a job there making somewhere north of $300k, but my expenses would go through the roof and I’d be stuck in SV traffic all the time, no thank you. I get paid well, but less than half what Signal is paying.
Yeah, that’s not especially enormous compared to startups in the valley offering huge equity alongside already generous compensation packages.