How do recruiters and other non techies in the Bay Area feel about the attitudes of tech workers towards their high comp packages and the gentrification/class divide being caused by it. This post is motivated by this comment on reddit: https://www.reddit.com/r/cscareerquestions/comments/anvc17/comment/efx0pxl?st=JRVMJDPK&sh=43bc1f8a It’s not uncommon to see tech workers here on blind exaggerate their struggles on 6 figure salaries and complain about insanely high “lowball offers”. According to linked comment above apparently people claim they can’t live on these salaries irl too. I’m wondering what recruiters in particular think about this phenomenon/bubble seeing as they personally hand out these huge comp packages to young engineers who sometimes don’t seem to realize how good they have it. (I’m just gonna tag random companies)
It reminds me exactly of the entitlement and hubris among the young Investment Banking graduates in the mid 2000's. Reality will eventually hit and bring a much needed dose of humility to tech workers.
How did it hit for the investment banking graduates ? Didn’t most of them end up in pretty good places?
I'm not sure about this value added argument. In my mind it's because of large margins and ego. The egos of big companies and wanted to compete with other companies will increase demand and then having the huge cash floes due to the large margins means they have the means to invest in human capital. If big tech gets broken up, regulated to hell, advertising moves elsewhere, stocks tank, etc they'll go down.
My team of 20 something is saving Google $xxx million a year. I make 0.13% of $xxx million a year. Even if everybody in the team makes twice of what I make the total would still be under 5% of what we save.
How do you calculate a number like that? Isn’t it the sales people who hired you responsible for “saving” all that money? :p
It’d easy to calculate when you’re making up numbers from imagination
I’ve been around long enough to see several booms, the bubble pop and a couple of slow downs. Look at 97 to March 2000 to see how crazy it can get and how quickly it can go away. I was lucky that Microsoft “only” fell about 50%. I knew people that lost 90%, over 100% and filed bankruptcy. (The over 100% had to do with an options tax strategy that worked really well. Until it didn’t. People had 7 figure tax bills on options that were worth 0. The IRS doesn’t give a shit. ) Short of an economic event that affects the entire economy, I don’t see a top yet. I think TC growth will slow down (just take a look at the intern comp over the last 5 years to see crazy) but I don’t think it will be zero or fall.
Except for a named few, recruiters routinely: * Ghost * Lie * Don't read my resume before sending a job description my way * Don't read the CLIENT'S JD before sending it my way * Try to coerce you into signing exploitative paperwork * Harass your phone and text messages at all hours of the day and night * Outright try to scam you (in at least two notable cases) Why should I care what they think of me, again?
You did nothing to contribute to this question/post. I understand it's tough to find an outlet to rant about recruiters...oh wait, that's literally every other tech forum out there.
My point being that recruiters have a lot of their own yard cleaning to do before they start throwing rocks over the fence.
The salaries simply reflect the high impact a single individual can have on a given product that happens to generate 10s of millions per month. Its similar to investment banking and hedge fund trading. Do they deserve million dollar bonuses for simply taking clients to dinner parties, moving money from one place to another, and having gravitas? Maybe. The salaries are generally 1/3 (at most) of the value generated by that employee. Even at Proofpoint we have some individuals taking home insane compensation but its justified by their presence in meetings where when they start speaking people actively listen and take notes because they are amazing at what they do. HR business partners at most companies make over 400k. They make their job look easy but it actually isn't. Your value is decided by you. The salary is a by product.
Tech workers are good at realizing that and take advantage of it.
If you "decide your value", have you decided that you are worth over 200k yet? Is it 300k or 400k now? You can type these words all day until you look at your salary, ask for a raise, or even negotiate with companies tomorrow. You can decide on 1M but you won't get it tomorrow.