> I have a feeling if SWEs take a 20%+ haircut on salaries things are going to be absolutely abysmal for people in other roles. Other roles have more direct an

> I have a feeling if SWEs take a 20%+ haircut on salaries things are going to be absolutely abysmal for people in other roles. Other roles have more direct analogues in other industries that keep compensation stickier. Eg, corporate finance/strategy/legal/etc can just transition industries pretty cleanly, with similar comp. They get paid less in the good times, true, but if the downturn is concentrated in tech, other companies would still be happy to have them.