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Not directly related to the post, but developers should be aware that developer salaries will likely jump significantly this year. The VC market is super hot r
by rsweeney21 6y ago
Not directly related to the post, but developers should be aware that developer salaries will likely jump significantly this year.
The VC market is super hot right now - VC firms are being flooded with cash, and they need to deploy it. Companies are raising massive amounts of money at unprecedented valuations. A large chunk of that money is going to hire developers. The recruiting industry is seeing a huge surge in hiring in the past couple of months (source: I run a technical recruiting company (1)).
Because demand and cash available to hire developers has increased significantly in the past few months, but the supply is basically fixed, companies are offering higher salaries to attract talent. They have the cash for it.
Keep in mind that new money raised from investors will raise the value of your stock options, but rarely translates to salary increases for existing employees.
What a time to be a software engineer.
(1) https://www.facet.net https://www.facet.net
- monkeynotes 6y agoWhat's driving this new surge of cash?
- loremipsium 6y agoI suppose this https://www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm https://www.federalreserve.gov/monetarypolicy/bst_recenttren...
- rsweeney21 6y agoLow interest rates means managers of pensions and other large money managers can't put their money in bonds. They would lose money because the interest rate is lower than inflation. So they need somewhere else to put it.
- clairity 6y agocorporate welfare in the form of immense cash injections, forgivable loans, immaterial interest rates, downright lovable tax policy, and an accelerating crap-ton of captured regulation (like lockdowns heavily favoring the largest businesses). all without any structural reform so that that excess isn't hoovered up by the already wealthy.
- monkeynotes 6y agoThis is fascinating. It kinda sounds very unstable though. Like how does a pandemic ruptured economy somehow come out looking better than it was pre pandemic?
- clairity 6y agoit looks better because (1) we (in the US) borrowed $6T+ against the future and injected that into the present, with inflation stayed only because the dollar is the international currency (for now) and (2) capital has nowhere to go but into (existing) equities, financial maneuvers, and real estate. it's hard to erode/inflate away more than $6T, even for an economy as misallocated as ours when you have those two features going for you. i don't think it will be stable long term, but it's been a slow boiling of us largely oblivious amphibians. the froth of unrest we've seen here and there in the last decade is pockets of us frogs realizing something is wrong, but we haven't reached that 25% awareness/action threshold to unlodge us toward a new equilibrium.
- hiddencache 6y agoValuations are high. They're competing with SPACs, and no-one wants to miss out
- fireeyed 6y agoNot likely. The work permit immigration spigots have opened up again with new administration relaxing previous constraints. My vendors Cognizant, Wipro and TCS are very excited for lots of contract work in SV. We can come back and revisit this comment at the end of the year. The wages will barely budge.
- ragnarok451 6y agodo you think that these hot startups like Stripe etc are hiring consultants from the likes of Cognizant, Wipro, and TCS?
- flashgordon 6y agoWith Stripe's new RSU policy (almost looking like fixed TC but worse with delayed granting) I wonder who they are trying to attract.
- wombat-man 6y agoyeah, plus they have sort of earned a reputation for being a bit of an intense place to work, quick to fire people who fall behind. Idk if that kind of stress is worth it.
- flashgordon 6y agoSo (sadly) in a way all companies wear that as a badge of honor and a way to filter for "culture fit"!
- wombat-man 6y agoI mean, if I were in a slightly different point in my life, I might be willing to grind out long hours for a year or three if I thought I was going to come out the other end a multi millionaire. But the way they structure the RSUs makes that way harder, it kinda feels like I might as well wait for IPO and buy shares then. Lack of job security is big too, but I guess that's to be expected at any startup.
- deleted 6y ago[deleted]
- ngngngng 6y agoGreat ad. Excited to hear back from you.