Hi, I'm Matt Turner, the editor in chief of business at Insider. Welcome back to Insider Weekly, a roundup of some of our top stories.
On the agenda today:
- Employees across industries share how much they've made over their careers.
- Moscow insiders describe panic and shame as Russia's economy freezes over.
- If a second civil war broke out in the US, where would it start?
- Developer burnout is putting the entire internet at risk.
Let me know what you think of all our stories at [email protected].
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People share what they've earned over the years
How much are you paid today, and what did it take to get there?
In January, Insider launched a series titled "Salary Journeys," each featuring a different person's compensation history, to answer those questions. The goal is to demystify the job market and create fairer, more informed conversations around pay.
Since then, we've published the journeys of a 32-year-old software engineer who is making $183,000 at a Big Tech company — but still knows they're underpaid; a 24-year-old editor and show host earning $70,000 and working up the courage to ask for more; and a 46-year-old pharma exec raking in over $200,000 a year who had no idea their industry would be this lucrative; and many more. You can find them all here.
These journeys have ups and downs, moments of self-doubt and empowerment. They also show how net worth and self-worth are inextricably linked for many.
Chris Weller, a senior editor on our Future of Work vertical, describes how it all came together.
What's the goal with this series?
Chris: The goal is really to empower people to negotiate a fair wage, whatever industry they're in. By having a fuller picture of a person's salary history across different jobs, versus just the snapshot of a single number, hopefully readers can see their own trajectory in other people's stories.
What was your main takeaway from working on this project?
Chris: We've published almost 10 so far, and it's pretty clear how much money means to people besides just the monetary value. It's really hard to separate self-worth from net worth, especially if you're underpaid or feel underpaid relative to your peers.
It's also been interesting to note that more money doesn't necessarily equal more happiness, even at higher salary bands. One of the respondents makes $16.50 an hour and says she's never been happier. It's all relative.
Have there been any particularly memorable stories so far?
Chris: I was struck by the sales rep who went from $16 an hour to $7,000 a month as a manager in a six-month period. He told us how hard he worked, how clearly he communicated his goals to his supervisor, and how he used the "Great Resignation" to his advantage by being open to relocating.
He set a goal to achieve that raise and promotion within a year but got both in half the time. That was pretty cool.
Read some of the stories here:
- I'm a 26-year-old sales rep who went from $16 an hour to $7,000 a month. Here's how I took advantage of everyone quitting to negotiate a promotion.
- I'm a 37-year-old administrative assistant making $16.50 an hour, and I've never been happier. Here's my salary journey over 4 jobs.
- I'm a 32-year-old software engineer at a Big Tech company making $183,000. I know I've been incredibly lucky, but I'm still underpaid.
Also check out:
Inside Russia's frozen economy
Amid Russia's invasion of Ukraine, Western sanctions and a collapsing ruble have financially frozen Russian citizens, some of whom are trying to flee.
We spoke with Russian financiers who described inability to access savings, soaring interest rates, a run on local banks, and stockpiling food and essentials in anticipation of shortages.
Read the full story here:
Also read:
- A 'bone-crushing recession': Wall Street's top investors warn that the war in Ukraine will provoke widespread economic chaos
- US law firms are pulling out of Moscow, and their Russian lawyers are feeling 'attacked from two sides'
Where the next civil war may start
A year after the January 6, 2021, Capitol riot, the potential for another violent political uprising in America is all too real. While it is impossible to say whether war will break out, it is possible to pinpoint where one could begin.
Insider's Adam Wren spoke with nearly a dozen experts on civil war, domestic terrorism, and secession movements, and a few parts of the country came up repeatedly: Michigan, eastern Oregon, and upstate New York.
Read the full story here:
Open-source developers are burning out
The internet and many of the world's largest companies — including Microsoft, Amazon, and Netflix — rely on open-source software, which is built by developers who make little to no money.
A storm of recent security incidents exposed the fragility of the ecosystem, while open-source developers have burned out, stepped away, and even sabotaged their projects in protest.
Read the full story here:
Also read:
More of this week's top reads:
- 'We have your daughter': The terrified father paid the ransom. Then he found his kid where he least expected her.
- Actually, forcing people to go back to the office isn't the way to save big cities.
- This ex-Wall Streeter built a portfolio of 'boring' small businesses that generated $4 million in revenue last year. Here's how.
- DoorDash's response to surging gas prices has some delivery drivers frustrated.
- Vaccine makers are not built for speed — and that should terrify us.
- BuzzFeed announced layoffs and voluntary buyouts. In leaked audio, execs faced questions from furious newsroom staffers.
- Four Gen Zers who bought their first homes before turning 25 explain how they pulled it off.
Curated by Matt Turner. Edited by Jordan Parker Erb and Lisa Ryan. Sign up for more Insider newsletters here.