In one sentence: if my wage if $350k per year vs $200k per year, does that affect what monthly social security benefit, because they maxed out the contribution in the same way.
I saw from ChatGPT and Bard:
Social Security retirement benefits are calculated based on your highest 35 years of earnings. This is called your Average Indexed Monthly Earnings (AIME). The AIME is calculated by first indexing your earnings to reflect changes in general wage levels over time. Then, the 35 highest years of indexed earnings are averaged to get the AIME. The AIME is then used to calculate your Social Security retirement benefit.
So if my first year's wage out of college was $35k, then if I work till I am 67, when my wage is easily $200k, then replacing $35k with $200k can easily raise my monthly social security benefits when I retire.
However, what if it is a wage $200k vs $180k, or a wage of $350k vs $200k? Since it already max'ed out the amount to contribute to FICA, so shouldn't a wage of $350k not matter as compared to $200k? But the quoted text above sounds like it does matter.