@icedquinn @dsfgs @feld @mwt @masstransitkrow I mean today that's true. Back when I first graduated, my first job was $25k/yr. That was in 2005, and my role included system admin, network admin, coding, setting up call center machines, firewalls ... everything; IT staff of three people (my boss included) for a company of over 100 people with 4 or 5 remote offices. I had a bad reference I didn't know about, that cost me a few $30k+ jobs and set me back for a bit.
When I got my first corporate job doing *just* programming in Java for $45k/yr in 2007, it felt amazing! I had plenty of money for housing and food; was putting away a good chunk of savings every paycheck.
But back then a tri-level, 2 bathroom in a duplex was $525/month, and groceries for myself rarely ever went over $100 unless I was really stocking up on stuff.
The biggest problem today is housing costs. Food is going up, but it's nowhere near as bad as rent. Places similar to that $525 place in my city are now over $1000 or close to $1500! I'm not sure what today's equivalent to that $40k would be ... most likely $65k or more ... and that's only if people weren't constantly moving into smaller cities making life worse for all the locals (admitting I'm one of those people from the big city moving back to the small city ... even though I grew up here and don't have to make this place my new home .. it is home).