bostonbubble.com

balor123 · Joined: 08 Mar 2008 Posts: 1204

Did we discuss this report last year? I don't remember. The historical information is interesting but I would like to see an updated report for Boston.

Another neat paper from last year
To Preserve and Protect: Land Use Regluations in Weston.

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balor123 · Joined: 08 Mar 2008 Posts: 1204

It is pretty objective though. I like the history of Weston as it defines the cultural aspect of Boston's housing problems.

GenXer · Joined: 20 Feb 2009 Posts: 703

The situation is exactly out of Atlas Shrugged - the producers are leaving the state. The unions are the only ones who'll be left, and then the whole thing will unravel pretty fast. For all the 'jobs' created, Fidelity just took them all out of state - that's over 1000 high paying jobs.

balor123 · Joined: 08 Mar 2008 Posts: 1204

I'm not sure those jobs were high paying. I think those are in downtown. In any case, they cut a lot more the past few years.

GenXer · Joined: 20 Feb 2009 Posts: 703

The point is that Fidelity had 13k jobs in this state a couple of years ago. Now there are only 8k, and you better believe that they are getting together to move out of this state altogether. Compared to some union jobs, these may not be high paying jobs, but compared to the types of jobs available, Fidelity is a pretty high. Now tell me these are not high paying jobs (I just selected the highest number reported, format - average, low, high):

Senior Software Engineer

76 Fidelity Investments Salaries
$75,710
$62k
$87k

Associate Software Engineer Developer

62 Fidelity Investments Salaries
$58,505
$49k
$65k

Financial Services Representative

53 Fidelity Investments Salaries
$39,810
$33k
$51k

Principal Software Engineer

49 Fidelity Investments Salaries
$91,986
$74k
$110k

Software Engineer/Developer

47 Fidelity Investments Salaries
$62,726
$53k
$74k
Looking for a job? See the latest Jobs in Boston

Director

35 Fidelity Investments Salaries
$111,876
$80k
$135k

Associate Systems Analyst

31 Fidelity Investments Salaries
$59,272
$51k
$66k

Senior Business Analyst

28 Fidelity Investments Salaries
$71,164
$55k
$81k

Systems Analyst

24 Fidelity Investments Salaries
$63,567
$57k
$74k

Vice President

21 Fidelity Investments Salaries
$141,576
$90k
$180k

Boston ITer · Joined: 11 Jan 2010 Posts: 269

I'll tell you one thing about Fidelity and that's that although it was never a *fun* place to work for, it was a type of job market leader for much of the 90s.

In other words, as salaries augmented throughout the decade, in finance vis-a-vis IT, Fidelity was generally considered the higher paymaster in town and as a result, nearby firms like MFS, Putnam, Scudder, Thompson & Thompson, CTP, & even State St, had to start raising salaries to keep up with them. In essence, the delta between Fidelity and other companies was generally considered a *lifestyle* compensation difference where leaving at at let's say 5-5:30PM was 'ok' with minimal OT, as oppose to always sticking around till 6-7PM. The problem with that was that the younger and coming crowd stayed away from the lower paying shops & gravitated towards Fidelity, as either full employees or contractors. This of course all changed course after the Nasdaq/telecom/IT bust.

balor123 · Joined: 08 Mar 2008 Posts: 1204

Yeah for the most part those salaries don't impress me. Show me jobs that pay less which aren't hourly. We've already seen that the typical teacher in MA makes $80k - $100k. Waltham has over 100 employees who make over $100k.

Boston ITer · Joined: 11 Jan 2010 Posts: 269

guest · Guest

We went through this last year. The typical teacher in MA does NOT make 80-100K. Do your research.

balor123 · Joined: 08 Mar 2008 Posts: 1204

Is Spring is BAAACK the post you are referring to? I think the regulars here know that I do my research so if you're going to make such a claim, be prepared to back it up yourself.

balor123 · Joined: 08 Mar 2008 Posts: 1204

Maybe my statement was a bit generalized. We only discussed unionized teachers in a few districts. The ones I've looked at were Boston, Newton, and Wellesley. I can't speak for other districts.

guest · Guest

You said MA.

GenXer · Joined: 20 Feb 2009 Posts: 703

it is true that state employees are the ones making the six figure salaries. This can not go on forever. Its called cannibalism. It can only exist when the economy is doing good. I think that even if teachers were making 50k, they'd still come out ahead due to generous pensions. Getting 40-50k a year from pensions for 30+ years is not a bad deal. If your salary is six figures though, those people will get disproportionate pensions that very few rich millionares can afford. Getting 100k a year in pensions is equivalent to having multiple millions, which very few people will have by the time they retire.

guest · Guest

The teachers pension works like an annuity. If I die the day after
I retire (or even before I retire), then I leave nothing to my heirs. A person with a 401K, Roth, or conventional IRA leaves potentialy hundreds of thousands of dollars.

Furthermore, I pay 11.5% of my gross salary to my pension. That's
roughly double the SSI contribution.
And I expect about double what I would get from SSI when I retire.
It's only proportional. And remember, I won't get Social Security.

Now I thought this was a real estate message board.
Let's respect our public emloyees.