I think it’s because of the government moves that have effectively shut down a huge swath of prior contracting gigs (where SWEs got paid decently, albeit as fre

I think it’s because of the government moves that have effectively shut down a huge swath of prior contracting gigs (where SWEs got paid decently, albeit as freelancers). These experienced engineers are not going to work for 70k/year like suckers, er perms, were doing 5 years ago. Combined with rising TCs at FAANG, and a shortage of experienced engineers, overall wages have gone up significantly in the last 2-3 years.