I believe the author would argue that these 'middle class' Valley engineers really aren't middle class at all, but rather upper class. They're likely up in the 95th percentile of earners. Though I struggle to come to terms with how to control for living costs and geographic inflationary trends. I would like to see an accounting of how wages across the employment spectrum are adjusted, as well.
In my mind, if wages for other forms of employment aren't similarly inflated, it makes a much stronger argument for a further bifurcated society.
> They're likely up in the 95th percentile of earners.
For 95% of people in the Valley to earn less than average software engineering salary, 95% of people would have to be employed outside of tech specialties outside of tech companies. And that's not the case.
I read that as meaning "95th percentile nationwide" in which case no such conclusion can be drawn.
And FYI, what you are saying could happen with 90% of people employed outside of tech companies. (Because half of engineers earn below the median software engineering salary.)
In my mind, if wages for other forms of employment aren't similarly inflated, it makes a much stronger argument for a further bifurcated society.