[bradlys]

A living wage shouldn't be based upon what wages a student could be comfortably living on for a couple years before they get their $500k/yr new grad quant job. It should be based upon what people could live on comfortably indefinitely.

It's not "student wage". It's not "struggling young person" wage. It's "living" wage. It's for living - at any age.

[bumby]

Does this then imply some jobs are not intended to supply a living wage?

Eg does that quants internship get a lower pay because they are expected to graduate beyond it? If so, how do we define what jobs are stepping stones and which are long-term careers?

[bradlys]

I think all full time jobs should at a minimum pay a true living wage where one can live comfortably, save for emergencies, etc. If the job cannot pay that then it shouldn't exist.

There are many ways to accomplish this beyond simply raising wages. Better government programs, lower the cost of housing/medical/transportation/food/etc. (these are surprisingly simple but many vested interests don't want this to happen), better retirement programs, etc. etc. etc. You see more of this in more socially democratic countries.