How many software engineers are truly making over $300k as a rank-and-file? Let's be generous and say there's about a dozen or so companies that routinely pay engineers that well. Each FAANG will have on average, 10k engineers? So that's around 120,000 out of an estimated ~20 million developers (from a quick google search). That's around 0.6% earning pay in a "bubble" situation, the rest being senior folks or executives who would demand high pay everywhere else. So if you're a trained software engineer, you have less than a 1% chance of being in the situation described.
A quick google search finds that law school students have around a 14% chance of making BigLaw (the legal equivalent). The odds of getting into a medical school is between 2-5% on average. So no, I don't think we're in a bubble, the majority in the situation described would simply exist as the elite compensation class elsewhere as well, but maybe with even better odds.
A quick google search finds that law school students have around a 14% chance of making BigLaw (the legal equivalent). The odds of getting into a medical school is between 2-5% on average. So no, I don't think we're in a bubble, the majority in the situation described would simply exist as the elite compensation class elsewhere as well, but maybe with even better odds.