If I could add to that: My income personally has gone up during that period due to promotions, but I’m hiring people at the same salary that I was paid in 2000 for similar work. This is nominal terms, not inflation-adjusted. So I was making about 100k in 2000, and now I’m hiring people at 95k-105k. I don’t know how people at that salary are making things work, since it’s a challenge at 200k (if you want to eat healthy foods and save at a solid rate). Which is ludicrous.

BTW, I’ve had a couple interviews at Qualcomm over the years as they’re constantly headhunting. The last interview they wanted me to take almost a 20% pay cut, and that was for a director job. They were honestly surprised by my salary (as in, “even we don’t make that much”). I also have several friends at Qualcomm and I KNOW they make less than market rate. So I’m not sure I buy the idea that Qualcomm salaries are supportive of current prices.