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A fair number will leave the industry This isn't controversial and it happened in the dot-com bubble aftermath For many, they were never deeply committed to I
by newaccount2021 4y ago
A fair number will leave the industry
This isn't controversial and it happened in the dot-com bubble aftermath
For many, they were never deeply committed to IT anyway and were only following good/easy-to-attain positions
For some, they had bills to pay and couldn't afford to wait things out
The most interesting class of workers in this round are the (former) FAANG cohort of overcompensated middle-performers. These people were gut-punched by their layoffs, and they will be gut-punched again when they see future offers that may be 50% of what they were making before. HN isn't receptive to these types of observations so it will likely just have to sink in over time...the days of coding React for two hours a day and pulling in total comp of $400k are probably gone forever.
- dudul 4y agoAgreed. One of my friends started casually looking for a job before the bloodbath began. He was being very picky and was in an employee market where he could command a large salary. Now he feel like a chump, because he can't start a conversation for more than 30% less than what he used as a baseline in October.
- grp000 4y agoThat must be one of the more extreme examples. I'm probably being under compensated at the moment, but about half of recruiters reaching out are matching my salary.
- stumblindrunk 4y agoHalf of recruiters can’t even match your undercompensating salary…
- tukantje 4y agoMarkets are cyclical. It will improve again, albeit probably in a decade.