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patio11's profile
Patrick McKenzie
Patrick McKenzie
Patrick McKenzie
@patio11

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Patrick McKenzie

@patio11

I work for the Internet, at @stripe, mostly on accelerating startups. Opinions here are my own.

東京都 Tokyo
kalzumeus.com
Joined February 2009

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    Patrick McKenzie‏ @patio11 2 Jan 2018
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    Earlier today I mentioned that high productivity firms pay high productivity wages even to employees located in lower-average-productivity cities. Here’s Basecamp making it explicit:https://m.signalvnoise.com/basecamp-doesnt-employ-anyone-in-san-francisco-but-now-we-pay-everyone-as-though-all-did-3ee87013cfc2 …

    4:08 AM - 2 Jan 2018
    • 183 Retweets
    • 593 Likes
    • Harris Nguyen Jean-Noël Rouvignac Leo Levz Danny Thorpe Artur Klajnerok Nathan Mattes Yernat Yestekov Aaron Ringgenberg Nathaniel Eliot
    6 replies 183 retweets 593 likes
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      2. Patrick McKenzie‏ @patio11 2 Jan 2018
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        Generally, software companies that I’ve seen with teams that are in both high-average-productivity cities and other cities pay something akin to X and 0.9X, largely due to concerns about internal fairness. (This assumes both cities are in same region for purpose of immigration.)

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      3. Patrick McKenzie‏ @patio11 2 Jan 2018
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        It occurs to me that some folks might think of productivity like an engineer, not like an economist, so noting explicitly: this is about marginal increase in revenue of the firm per employee added, not about lines of code shipped.

        1 reply 6 retweets 50 likes
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      4. Patrick McKenzie‏ @patio11 2 Jan 2018
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        It is also sensitive to a match between employer and employee and not internal to the employee. My marginal productivity at Stripe is, easily, two orders of magnitude higher than it would be if I were still employed at my job at the Japanese megacorp (or Bingo Card Creator).

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      5. End of conversation
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      2. Daniel Lindley‏ @dlindleyau 2 Jan 2018
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        Replying to @patio11

        Hi Patrick, is your is your commentary on wages here specific to a region?

        1 reply 0 retweets 0 likes
      3. Patrick McKenzie‏ @patio11 2 Jan 2018
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        Replying to @dlindleyau

        Historically the market for engineers has been city level or metro level. I think this is increasingly not the case, caused both by the Internet and also by increased willingness to move among the groups contributing most engineers.

        1 reply 2 retweets 10 likes
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      1. Patrick McKenzie‏ @patio11 2 Jan 2018
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        Scale of the initiatives is a productivity boost, and not just a perceived one, if you measure productivity like an economist does. (It might also cause me to do more in a year than I did at old jobs, but net effect of that negligible next to scale.)

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      1. wehavenocoins‏ @wehavenocoins 2 Jan 2018
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        Replying to @patio11

        It's kind of funny that region is not addressed in the classical explanation of wage determination in macroeconomics. That some tech firms don't take into region; just means they are doing what they should do given their sector and efficiency wages.

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      1. John-Mark Gurney  🗑️ 🔥‏ @encthenet 2 Jan 2018
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        Replying to @patio11

        The lowest pay assumes that workers are machines in that they can be trained with minimal effort and perform quickly and equally. Not so with tech, and so employee moral enters into this.

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      1. jneen collective‏ @jneen_ 2 Jan 2018
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        Replying to @patio11

        cc @gitlab

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      1. Daveyon Mayne  😻‏ @sylarruby 2 Jan 2018
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        Replying to @patio11 @dhh

        Is it that time of year for new interns? I'm in that queue as if I'm waiting outside the apple store to grab that iPhone 4S (best phone ever)

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